Maximization of Profit in Manufacturing Industries Using Linear Programming Techniques: Geepee Nigeria Limited

Authors

  • I. S. Fagoyinbo Department of Mathematics and Statistics, Federal Polytechnic, Ilaro,Ogun State, Nigeria
  • R. Y. Akinbo Department of Mathematics and Statistics, Federal Polytechnic, Ilaro,Ogun State, Nigeria
  • I. A. Ajibode Department of Mathematics and Statistics, Federal Polytechnic, Ilaro,Ogun State, Nigeria
  • Y.O.A Olaniran Department of Marketing,Federal Polytechnic, Ilaro,Ogun State, Nigeria

Abstract

Any organization set up aims at maximization of profit from its investment from minimum cost of objective function.
This research work applies the concept of revised simplex method; an aspect of linear programming to solving industrial
problems with the aim of maximizing profit. The industry GEEPEE Nigeria Limited specialises in production of tanks of various
types. Four different types of tank were sampled for study these are the Combo, Atlas, Rambo and Jumbo tanks of various
sizes. Based on the analysis of the data collected it was observed that, given the amount of materials available Polyethylene
(Rubber) and Oxy—acetylene (Gas) used in the production of the different sizes of the product, Combo tanks assures more
objective value contribution and gives maximum profit at a given level of production capacity.

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Published

2011-11-01

Issue

Vol. 2 No. 6 (2011): November 2011 - Special Issue

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

How to Cite

Maximization of Profit in Manufacturing Industries Using Linear Programming Techniques: Geepee Nigeria Limited. (2011). Mediterranean Journal of Social Sciences, 2(6), 97. https://www.richtmann.org/journal/index.php/mjss/article/view/10918