Using Linear Programming Technique to Measure Minimum Costs: Ready-to-Wear Factory

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.

[thumbnail of Conference Paper] Text (Conference Paper)
Article_ISCAFS_01-07-2023.pdf - Published Version
Available under License Creative Commons Attribution Non-commercial No Derivatives.

Download (109kB)

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

Actions (login required)

View Item
View Item