07 Oct Company Report: Select one specific industry/company and determine the optimization problem. Collect relevant data to apply a linear optimization model to
Company Report: Select one specific industry/company and determine the optimization problem. Collect relevant data to apply a linear optimization model to solve the problem. The business can be one of the following: grocery, bakery, supermarket, restaurant, hotel, bank, airline, toys, or any production/manufacturing. You will demonstrate in the model either one of the following: to maximize profit, productivity, efficiency, and customer satisfaction or to minimize cost or defect. Conduct the following linear optimization steps:
1. Present the data and mathematical linear optimization model.
2. Identify and define decision variables.
3. Formulate the objective function.
4. Identify the set of constraints.
5. Solve the linear optimization model using the Solver.
6. Summarize Solver results in a written memo report addressed to the company management. Provide a brief action plan for the implementation of the model.
Format: Four to five Excel spreadsheets that include models and results. In addition, use a word document for the executive summary and action plan, with a minimum of 1000 words.
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