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

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

DOI: 10.7176/JNSR/11-13-03

Publication date:July 31^st 2020