Jameel, Abood (2023) Using Linear Programming Technique to Measure Minimum Costs: Ready-to-Wear Factory. In: 4th International Conference on Administrative & Financial Sciences, 3rd-4th/May/2023, Cihan University-Erbil.
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Abstract
We suggest, in this paper, linear programming model that consists of ten variables and eighteen constraints to calculate the minimum total cost and minimum cost for each product in one of the ready-to-wear factories. This factory is producing 10 different types of products (5 types of Pants, 2 types of shirts, 1type of long Jacket, 1 type of suit and 1 type of premium suit). This model usually used to solve more complicated problems in different fields by formulating or changing the form of the problem to Linear Programming model and then solve this model by using Simplex Method. We will use Simplex method which is a simple and powerful tool for solving linear programming Model to calculate the Minimum Cost, because calculating cost is not easy problem. The present study ascertained that there is a significant powerful technique in quantitative methods called Linear Programming Method that can be used in Optimization cases. This study will provide this Factory and other Factories, particularly in Iraq, an exposure of linear programming Technique in making decisions to determine the minimum total cost and minimum cost for different products. The result of Statistical analysis exhibited or shows that: The Minimum total cost Z = 3249745000 IQD.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Uncontrolled Keywords: | Formulation, Model Building, Linear Programming, Optimization, Simplex Method and Cost Accounting |
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Department of Accounting > Research papers |
| Depositing User: | ePrints Depositor |
| Date Deposited: | 31 Oct 2024 12:05 |
| Last Modified: | 31 Oct 2024 12:05 |
| URI: | https://eprints.cihanuniversity.edu.iq/id/eprint/2329 |
