Step-by-step Instant Solution
This problem deals with strategic planning issues for a large company. The main issue is planning the company's production capacity for the coming year. At issue is the overall level of capacity and the type of capacity ? for example, the degree of flexibility in the manufacturing system. The main tool used to aid the company's planning process in GMC I is a mixed integer programming (MIP) model. A mixed integer program has both integer and continuous variables.
 A continuation of this problem, GMC II (at the end of Chapter 10 in Winston and Albright), deals with capacity planning in a multi-period, multi-scenario framework. In GMC II the MIP model is extended to handle the multi-period stochastic nature of the problem.
Paper#9256008 | Written in 27-Jul-2016Price : $16