Finding the Dimension which Minimize Material Cost of Some Industrial Plastic Products in Ethiopia

Muluken Admasu; Ashager Adane

doi:https://doi.org/10.14445/22315373/IJMTT-V66I8P506

International Journal of Mathematics Trends and Technology

Research Article | Open Access | Download PDF

Volume 66 | Issue 8 | Year 2020 | Article Id. IJMTT-V66I8P506 | DOI : https://doi.org/10.14445/22315373/IJMTT-V66I8P506

Finding the Dimension which Minimize Material Cost of Some Industrial Plastic Products in Ethiopia

Muluken Admasu, Ashager Adane

Citation :

Muluken Admasu, Ashager Adane, "Finding the Dimension which Minimize Material Cost of Some Industrial Plastic Products in Ethiopia," International Journal of Mathematics Trends and Technology (IJMTT), vol. 66, no. 8, pp. 46-59, 2020. Crossref, https://doi.org/10.14445/22315373/IJMTT-V66I8P506

Abstract

The purpose of this study focused on identifying and verifying an effective and reliable dimension of plastic products for minimize the material cost. As the costs of manufacturing product decrease, the way that consumers interact with producers may change. To specify the best optimal dimension, two criteria’s, that has been done using numerical and graphical techniques, were in order to compare and contracts the cost of material. During estimation of non-linear system of equations MATLAB (R2015a) software are used. In many instances, the cost of producing a product using traditional methods exceeds that of mathematical optimization methods. The material cost difference between mathematical optimization and traditional method was presented graphically.

Keywords

Mathematical cost optimization, material cost difference, products dimension

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