PROFIT MAXIMIZATION USING LINEAR PROGRAMMING AND INTEGER LINEAR PROGRAMMING MODELS: A FOCUS ON NIGERIAN BOTTLING COMPANY OTA PLANT, OGUN STATE.

Akanbi, Olumuyiwa O. (2018) PROFIT MAXIMIZATION USING LINEAR PROGRAMMING AND INTEGER LINEAR PROGRAMMING MODELS: A FOCUS ON NIGERIAN BOTTLING COMPANY OTA PLANT, OGUN STATE. In: ASUP National Conference, ADO-EWI, Monday, 27th – Thursday, 30th August, 2018, Federal Polytechnic, Ado-Ekiti, Ekiti State.

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Abstract

Most companies are established to make financial profit. With regard to this, the aim of such establishments is to maximize profit. This paper focuses on some veritable tools in achieving such optimum profit. The study is designed to apply linear programming technique (LP) and Integer linear programming technique (ILP) to optimize profit for Nigerian Bottling Company, Coca-Cola industry, Ota plant, Ogun State. Linear Programming model of the production operations of the company was formulated. The study considered five (5) products of the company namely, Fanta Orange 35cl, coke 35cl,Fanta lemon 35cl, Sprite 35cl, Schweppes 35cl. The work exploits two methods to analyze the formulated models using Simplex method and Branch & Bound method. The result indicates that two particular products, Coke 35cl and Fanta Orange 35cl should be produced to maximize profit. Comparing results of the two models, it was noted that ILP model has an advantage over round- off error encountered in LP model.

Item Type:	Conference or Workshop Item (Paper)
Subjects:	Q Science > QA Mathematics
Divisions:	Faculty of Engineering, Science and Mathematics > School of Mathematics
Depositing User:	Mr Taiwo Egbeyemi
Date Deposited:	23 Jun 2020 08:50
Last Modified:	23 Jun 2020 08:50
URI:	http://eprints.federalpolyilaro.edu.ng/id/eprint/772

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