Optimization of Uniport Paint Product Mix
This study analyzed the optimization of paint production of the university of Port Harcourt Colour Academy paint manufacturing company with the aim of product formation and modeling that would minimize cost, maximize profit and improve quality. The study was guided by three specific objectives which gave rise to three research questions. A descriptive and experimental research design approach was used for the assessment of the profit contribution and constituent element demand comparison of each grade of paint. An excel solver package was used to analyze the optimization of product mix using linear programming method. Based on the analysis the finding of the study revealed that the paint manufacturing outfit of Uniport within the last six months incurred reduction in profit of N 1,950,000.00 in excess raw materials and in summary produced 57% less in profit value. The results also showed that the application of linear programming within the duration is possible of accruing gains in terms of these materials value Water of N 31,023.00, Calcium CarbonateN 364,240.00, Binder ResinN 452,800.00, Rheology modifier N 225,600.00, DefoamerN 564,000.00, Mable-DustN 513,800.00, GenopurN 111,000.00, and Ammonia N 42,000.00 and as well shows that profit can change from N 657,350.00 to N 1,531,818.18 with increase in value usage of Acticides, Titanium amounting to N 141,000.00 and N 213,000.00. Based on these results, the study concludes that it is not all the grades of paint produced that is optimally profitable to the company and the formation of antifungal (X2), Normal emulsion (X4) and texture (X5) have not reached their optimal levels.
Keywords - Paint, Emulsion, Profit Optimization, Excel solver, Linear Programming