Business Modeling

Business Modeling

Instructions :

Answer all questions.
Section B follow instructions.

Please show all work and how the answer was achieved.

 

Guidelines

• Marks will be awarded for answers that have addressed the purpose of the assignment comprehensively.
• Referencing accurately using the Harvard System. If you have actually quoted from ANY source.
• Evidence of a variety of information sources used will be an advantage.
• Descriptions should be your interpretation, not a repeat of text!
• Analytical and a clear presentation and showing all workings, will be of benefit. No excel spreadsheets to be used or handed in.
• Please use font size 12 or above.
• Read latest trade journals on line or by hard copy.
• All questions are equally weighted.

Section B

Harvard style of referencing must be used, and a minimum of 6 academic sources must be referred to within the report.

You are required to complete all of the following questions. Your response to the written question in section 2 must be substantiated and justified by referring to appropriate textbooks and other academic sources. All spreadsheet work should be printed out and attached to your coursework.

Section 1
(30 marks)

Distribution in the supply chain involves Mega Oil’s four refineries (denoted by M1, M2, M3, M4) and seven authorized distributors denoted by D1,….., D7). The transportation costs in £ per litre between refineries (M) and distributors (D) are shown below in Table 1. The quantities in litres of amounts available (supply) and required (demand) are also included in the table. The refineries are located in different parts of the country and the cost of transportation from a refinery to a distributor varies.

Table 1.Transportation data for Mega Oil Ltd.
M D
D1 D2 D3 D4 D5 D6 D7 Available
M1 5 9 5 3 6 12 6 14,000
M2 7 4 5 7 10 6 10 23,000
M3 6 6 4 5 7 11 7 33,000
M4 4 3 5 4 8 7 6 30,000
Required 15,000 7,000 17,000 21,000 16,000 12,000 11,000

The processed oil needs to be transported as cheaply as possible, therefore the objective function is to minimize the total cost.

You are required to use the Solver add-in within Microsoft Excel to calculate which refinery should deliver to which depot to ensure that total cost is minimized.

Save a copy of your updated spreadsheet which shows the optimal solution to the problem, together with the figure for total cost. Also remember to include in your spreadsheet (as three separate worksheets) the answer report, sensitivity report and limits report.

Section 2
(70 marks – 1,500 words)

Travelling salesman problems (TSP) can be used in helping to solve logistics and vehicle routing problems. Analyse and evaluate how TSP could be applied, and the benefits and limitations it offers to logistics companies.

The report for section 2 will be marked against the following criteria:

Criteria: Weighting:
Quality of presentation and correctness of referencing 10%
Understanding and use of theory 25%
Quality of analysis 30%
Structure and argument 25%
Conclusions 10%

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