MATLAB optimization of production unit of a manufacturing firm

Abstract

This research work focused on how to maximize the profit of a mechanical manufacturing firm by optimizing the production units using MATLAB. This numerical analysis was manually done through the Simplex Method to model the production units into a linear mathematical equation that produces four major units which include standard aluminium spoon, bowl, pot and plates. Thereafter, a mathematical model was simulated using MATLAB2013b computational tool based on the previous input data of the mechanical firm and subjected to constraint equations based on the time required to finish each of the three products denoted p, q, r and s. The profit function was subsequently analysed to obtain the quantity of each product that will give maximum profit. The results of the manually calculated linear model corresponded with the MATLAB simulation that revealed that approximately <1 units, 17 units, 10 and 8 units of spoon, bowl, grinding teeth plate and pot respectively will have to be produced per day in order to obtain a maximum daily and monthly profit of #6,120.00 and #134,640.00. Businesses can thus be optimized and made more lucrative when resources and time available are allocated properly.