Managerial Aspects of Least-Cost Feed Formulation with Linear Programming

Joseph H. Stafford, Leland E. Ott and James C. Snyder

No 312226, Marketing Research Reports from United States Department of Agriculture, Agricultural Marketing Service, Transportation and Marketing Program

Abstract: Excerpts from the report Introduction: This report gives the results of using linear programming for feed formulation in two firms during a 23-week period. Since its primary purpose is to illustrate the role of LP in improving managerial decisions and controls, it is written for management personnel rather than the technician preparing the LP problem. The following are specific topics discussed in this report: 1. Comparison of the cost of ingredients for LP formulas with that of ingredients for conventional formulas. 2. Selection of the optimum frequency of reviews for LP formulas. 3. Changes in ingredient usage rates resulting from the use of LP. 4. Use of cost ranges and opportunity costs for procurement planning. 5. Use of the cost of LP restrictions (shadow prices) for guiding the nutritionist in changing specifications.

Keywords: Livestock Production/Industries; Production Economics; Research and Development/Tech Change/Emerging Technologies; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 30
Date: 1965-08
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uamsmr:312226

DOI: 10.22004/ag.econ.312226

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