Proceedings of the International Conference on Trends of Technologies and Innovations in Economic and Social Studies 2017

Optimization model of production and product sales within profit maximization

Authors
Maria F. Tyapkina, Elena A. Ilina, Dmitry I. Ilyashevich
Corresponding Author
Maria F. Tyapkina
Available Online June 2017.
DOI
https://doi.org/10.2991/ttiess-17.2017.42How to use a DOI?
Keywords
optimization model, profit maximization, poultry meat production.
Abstract
Demand for some food differs from day to day. For example, a sharp increase in demand for poultry meat on weekends and holidays is notable. In such conditions, companies need to answer the following question: how many products and what kind of products shall be produced and sold to meet the demand of buyers under limited resources and, at the same time, to obtain the maximum profit. To answer this question, a model for optimizing production and products selling within profit maximization was developed. The main advantages of the proposed model is the creation of a production structure that will provide the maximum profit, while several types of products, sale price, limited resources are taken into account. The proposed model was tested on the materials of the operating company. The model included 14 types of finished products, their sale price, the rate of consumption of raw materials, restrictions on the available raw materials, technical and labor resources. As a result of the application of the model, the structure of production and the maximum forecast profit with minimum and maximum demand were obtained. Practical application of the model is realized using the Microsoft Office application package (Excel).
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - Maria F. Tyapkina
AU  - Elena A. Ilina
AU  - Dmitry I. Ilyashevich
PY  - 2017/06
DA  - 2017/06
TI  - Optimization model of production and product sales within profit maximization
BT  - International Conference on Trends of Technologies and Innovations in Economic and Social Studies 2017
PB  - Atlantis Press
SN  - 2352-5428
UR  - https://doi.org/10.2991/ttiess-17.2017.42
DO  - https://doi.org/10.2991/ttiess-17.2017.42
ID  - Tyapkina2017/06
ER  -