effect of business mathematics in company activities

Welcome to our Presentation

Name IDAbul Kalam Azad 111-11 -1770Faruqul Islam 111-11-1779Baban Acharjee 111-11-1880MD.Wahidul Haque 111-11-1906

Group Profile

Effect of Business Mathematics in Company Activities

COMPANY PROFILE

COMPANY NAME HATIL FURNITURE

YEAR OF ESTABLISHED 1989

Name of Founder Chairman Late Habibur Rahman (1939 - 2006)

Vision Statement Achieve excellence through quality of products  and customer service by adding comfort,  functionality, durability and innovative   design to lifestyle.

Quality Association ISO-9001-2008 Certified

Address 8 Shewrapara, Rokeya Sharani, Mirpur   City: Dhaka   Country: Bangladesh   Postcode:1216

Contact Details Phone : +880-2-9002225, 9000073, 9001838   Fax : +880-2-8016593   Email : info@hatilbd.com, marketing@hatilbd.com  Website : www.hatilbd.com

Sister Concerns 1. H A Timber Industries Ltd   2. HATIL Tours & Travels Ltd   3. HATIL Holdings Ltd   4. HATIL IT Ltd

Total numnber of employees   1200: In Administration: 60, In Sales: 40 and   In production: 1100

Production Facilities On a 5-acre land   1,55,000 sft floor space   Equipped with modern machineries   Own sawmill and seasoning plant

Home Products Solid red OAK wood, Natural Oak veneered   Engineered wood, Lacquer finish, Wood in   Frame work, Engineered wood in Panel work,   Batch production, 90% Models are available   in ready stock, 15 Days lead time, if unavailable   (in local market)

Office Products Materials : LB / Lamination Board / Melamine   Board, Some exclusive models in Engineered   Wood and Lacquer, Batch production, 15 Days   lead time, if unavailable (in local market)

Distribution Channel Total outlets in Bangladesh  : 41nos.   Outlets in Dhaka city            : 12 nos.   Outlets in Other cities          : 29 nos.

Core Competences Innovative design and integrated production   facility comprising modern machineries, trained   people and long experience to offer   competitive price. Besides We have high   goodwill for quality products and prompt after   sale service.

Awards & Achievements 1. “Best Medium Enterprise Award-2006” –       given by FBCCI and Standard Chartered       Bank, SME Award-2006   2. “Beautification Award-2006” – given by       Honorable Prime Minister of Bangladesh-       Begum Khaleda Zia, for the beautification of       Road Island.   3. “Award for the contribution to Furniture       Industries-2004” – given by Bangladesh       Furniture Industries Owners Association       (BAFIOA) 

TWO METHODS

1. LINEAR PROGRAMMING EQUATION2. MATRICES

AVAILABLE METHOD

It deals with the optimization of a function of variables known as objective function and subject to some set of equalities/inequalities known as constraints.

Decision Variables Objective Constraints

Linear Programming

A rectangular array of number of the form

a11 a12 …………………. a1n

…………………………………….

am1 am2…………………amn

is called Matrices.The number a11 a12……amn are called elements of matrices. The above matrices has m rows and n columns and said to be order m by n and written as “ mXn “

Matrices

Hatil Furniture makes two kinds of furniture; Office table and regular table. Each office table cost 19000 taka to make , while each regular table cost 15000 taka to make. To make one office table it requires 3 days of machine A, 2days of machine B and 1 day of machine C. On the other hand to make one regular table, it requires 1 day of machine A, 3 days of machine B and 1 day of machine C. Machine A will be available at least 30 days, machine B available at least 60 days and machine C at least 25 days.

The company wants to minimize the cost by making specific amount of table.

The Activity

Schedule ( Linear Model Table)

Let, X= Number of Office Table. Y=Number of Regular Table.

Machine A

Machine B

Machine C

Cost

Office Table(x) 3x 2x 1x 19000x

Office Table(y) 1y 3y 1y 15000y

30 60 25 19000x +15000y

3x + y ≥ 30………(I) 2x + 3y ≥ 60……..(II) x + y ≥ 25………(III) x , y ≥ 0

Subject To

Min Z = 19000x + 15000y

Object To

A (x,y) = (0,30) B ( x,y ) = (2.5,22.5) C (x,y) = (15,10) D (x,y) = (30,0)

For A, B, C, D

Z = 19000* 0 + 15000*30 = 450000

Z = 19000* 2.5 + 15000*22.5 = 385000

Z = 19000* 15 + 15000* 10 = 435000

Z = 19000* 30 + 15000*0 = 570000

Hatil Furniture wants to minimize the cost to make the product as well as to get maximum profit.

The company has three machines to produce.

The machine has at least availability. It requires specific time on machines.

Result Effect

From the linear programming we get the point indicating the minimum cost.

The Point: B ( 2.5, 22.5)

Z = 19000* 2.5 + 15000*22.5 = 385000

Result Effect

Result Effect

Now, Hatil Furniture is able to know how many of each table should be made to minimize the cost according to their availability of three machines.

Linear Programming shows the graphical explanation which is easily understood by the executives of Hatil Furniture. Then the process of production can easily be implemented in order to minimize the cost.

Result Effect

Linear programming is excellent to determine the minimum cost as well as other result.

It shows graphical description which is easily understandable.

It also provides all necessary information. The production company should use linear

programming to determine the minimum cost as well as to get the specific and flawless result.

Our Opinion

ANY QUESTION ???

THANK YOU ALL !