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Sample 1 DSIMGTS Paper

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Sample 1 DSIMGTS Paper

Uploaded by

Alexis
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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Table of Contents

I. COMPANY OVERVIEW
A. Background of the Company
a. Logo
b. Location
c. Pricing Profile
d. Target Market Profile
e. Competitors and Other Branches
f. Products
g. Distribution Channel
B. Mission and Vision

II. STATEMENT OF THE PROBLEM


A. Problem
a. Objective
b. Significance of the Study
c. Scope and Limitations of the Study
B. Data Gathering
C. Dataset for Model

III. ALTERNATIVE COURSE OF ACTION


A. Alternative 1: The COGS of Supplier vs Manufacturer
a. Model Development and Testing of the Solution
b. Analysis of Results
c. Advantages and Disadvantages of Model of Alternative 1
B. Alternative 2: The COGS of Supplier vs Manufacturer + Freight Out
a. Model Development and Testing of the Solution
b. Analysis of Results
c. Advantages and Disadvantages of Model of Alternative 2
IV. OPTIMAL SOLUTION
A. Algebraic Formulation for Alternative 1
B. Algebraic Formulation for Alternative 2

V. CONCLUSION AND RECOMMENDATION

VI. APPENDIXES

VII. REFERENCES
I. COMPANY OVERVIEW

A. Background of the Company


Fudamax Trading is a family-owned business that began in 2003. One of the
company’s brands is called ToteMate. Initially, the business supplies office/school
supplies and envelopes. Currently, the brand sells essential computer parts such as
cooling fans and monitors. In addition, the brand also sells premium bags, which are
usually owned by employees or students, and premium envelopes and pouches that store
all essential documents. However, as time progresses and new market opportunities
emerge, the brand has decided to lean towards newer products such as plastic containers.
Currently, the brand is trying to cater to the demand for storage organizers, which is
helpful for any students or employees to store and organize their items nicely and neatly.
The brand supplies merchandisers namely: SM, Robinson’s, National Book Store, and
various office supplies nationwide. (National Bookstore, 2022)

a. Logo (See Figure 1)

Figure 1. Logo of ToteMate


b. Location
Totemate by itself does not have any physical store; however, they have
specific sections in more established and well-known stores such as SM
department store, Robinson’s department store, and stores that ring a bell to the
community.

c. Pricing Profile
The overall nature of Totemate is selling essential items to every
individual; thus, the prices of each item vary, depending on the affordability of a
person. The cheapest item ToteMate has to offer would be the ToteMate Oxford
pouch with an arm strap which costs P16 and the most expensive item is a TV
monitor which costs P13,000. Setting aside computer parts because they usually
cost an arm and a leg, the overall mean of the pricing for the premium bags,
premium envelopes, pouches, and storage organizes does not exceed P1,000.

d. Target Market Profile


The primary purpose of a target market is to identify the group of
customers that the products are geared towards. In the case of ToteMate, their
products are mainly known for their selling of storage organizers, envelopes,
pouches, and bags; therefore, their target market profile is students or employees
every day.

e. Competitors and Other Branches


Totemate is a manufacturing business. Its direct competitors in its new
venture of plastic containers and organizers are SM Stationery, King, Spaces,
Adventurer and Seagull. The businesses’ indirect competitors include
competitors from other establishments such as Muji and Office Warehouse. In
addition, because of ToteMate unavailability of their own physical store, hence
their closest physical stores are renting space from more well-known stores like
SM Department store, Robinson Department store, and such; therefore, items
such as SM stationery envelopes and other similar that of ToteMate’s offerings
are the businesses’ main competitors.

f. Products
Started supplying Office and School Materials to different Merchandising
Establishments under the brand of ToteMate. It is planning to expand its products
to plastic containers inspired by Muji. It offers various products: premium bags,
ziplock pouches, organizers, knife bags, envelopes, and computer bags. Among
these varieties of products, the top 5 marketable and popular products are
ToteMate plain tote mesh, ToteMate white mesh EVA pouch organizer, ToteMate
Muji high quality inspired EVA clear pouch and case, ToteMate Muji inspired
stackable organizer blocks, and ToteMate horizontal document and office bag
with handle.

i. ToteMate plain mesh tote pouch

Figure 2: B4 ToteMate plain mesh tote Pouch

The ToteMate plain mesh tote pouch (see Figure 2) is a nylon plain
mesh pouch used for school, travel, and home purposes. It has a zipper
closure and its plain mesh material makes it see-through. The product size
used for the model will be the B4 size with dimensions of 9.8 x 13.9
inches. (Fudamaxmktg, 2022d)
ii. ToteMate white mesh EVA pouch organizer

Figure 3: B4 ToteMate white mesh EVA pouch organizer

The ToteMate plain mesh EVA tote pouch organizer (see Figure 3)
is an EVA (ethylene vinyl acetate) white mesh pouch that is waterproof.
The material EVA is a flexible material It has a zipper closure and its white
mesh Antietam makes the product see-through. The product size used for
the model will be the B4 size with dimensions of 9.8 x 13.9 inches.
(Fudamaxmktg, 2022d)

iii. Totemate Muji high-quality inspired EVA clear pouch

Figure 4: Rectangle ToteMate Muji high quality inspired EVA clear pouch
The ToteMate Muji high-quality inspired EVA clear pouch (see
Figure 4) is an EVA (ethylene vinyl acetate) white rectangular prism mesh
pouch that is waterproof and dustproof. The material EVA is a flexible
material and the product’s design is influenced by the Muji pencil case
product line. It has a zipper closure and its white mesh material makes the
product see-through. The product variation that will be used for the model
is the rectangular version. (Fudamaxmktg, 2022b)

iv. Totemate Muji-inspired stackable organizer blocks

Figure 5: ToteMate Muji inspired stackable organizer blocks

The ToteMate Muji-inspired stackable organizer blocks (see Figure


5) is a container made of a PP (Polypropylene) plastic material. According
to the Food and Drug Administration (FDA), polypropylene is considered
one of the safest plastics that can hold even cold food. (Curbell Plastic Inc.,
2022). The model's product variation that will be used is the rectangular
version. (Fudamaxmktg, 2022c)
v. Totemate horizontal document and office bag with handle

Figure 6: ToteMate horizontal document and office bag with a handle

The ToteMate horizontal document and office bag with handle (see
Figure 6) are made out of the canvas. Not just any canvas, but instead made
with high-quality oxford material. The product’s dimensions have two
classifications. First is the medium size with a dimension of 14x12x3 and
the large one with a 16x14x3 dimension respectively. The researchers will
focus on the large dimension variation. (Fudamaxmktg, 2022a)

g. Distribution Channels

The business distributes an array of products to SM office supplies,


Robinsons Mall Department Store. National Bookstore, and Pandayan. ToteMate
has also utilized e-Commerce platforms, specifically Lazada and Shopee, to
attract a wide range of customers. As of May 2022, ToteMate’s Lazada and
Shopee accounts have more than 1,400 and 6,400 followers.

B. Mission and Vision of the Company

Mission: To help customers build confidence to have whatever it takes to the next
level.
Vision: To be a part of the journey of every customer
II. STATEMENT OF THE PROBLEM

A. Problem

a. Objectives
The Objective of this final paper is to answer the following questions:
i. What are the costs and profit attributed to each product of Totemate’s
Product Expansion line?
ii. What is the optimal unit product mix to maximize profit?
iii. What is the highest attainable total profit given the current capital budget?

Fudamax Trading is not without its competitors, thus it plans to maximize


the expansion of its product line by reexamining its newest product line. Product
Differentiation is an essential strategy for the manufacturing industry, most
especially in the stationery and school supplies category. With different varieties
of products, Fudamax Trading plans to determine the quantity to produce for each
product given a certain allocated budget capital for its supplying and
manufacturing of goods, and the optimal combination of products to produce to
maximize profits. ToteMate plans to create a production plan for its next
production period, and will thus utilize the data and analysis from this model to
influence its production decisions. (SM Stationery, 2022)

b. Significance of the Study


The outcomes and determinations of this study will serve as a guide to the
relationship of the costs of each unit product produced in relation to the profit
generated by each product for Fudamax Trading to maximize its profits against
the competition by identifying the maximized resource allocation of product
produced given a certain budget. The resource allocation enables Fudamax
Trading to expand its product line with the option of five product items in its
pre-existing expansion line.
c. Scope and Limitations
The researchers will focus on the Cost of Goods Sold and Profit of a given
sample size consisting of different variations of the pre-existing products that are
part of the expanded product line of the company. Though there are other
variations and dimensions of the products in the expansion line, the researchers
have limited the data set to key variations of each of the 5 products provided
based on the information given by Fudamax Trading.

The researchers will also only focus on the objective of maximizing profit
by providing an optimal product mix given certain capital budget constraints.
Minimizing cost, Finding the best freight allocation and other costs-related
models will not be discussed in this paper as they are of different models with
different processes and procedures.

B. Data Gathering
To obtain the necessary data in order to formulate the resource-allocation model,
the researchers have communicated with a Fudamax Trading representative in order to
assess their needs and problems that models from Prescriptive Analysis, Linear
Programming, and Data Analytics can solve using the researchers’ knowledge on the
subject. The Business has given their concern about the recent sales of their new Product
line. These products include ToteMate plain tote mesh, ToteMate white mesh EVA pouch
organizer, ToteMate Muji high quality inspired EVA clear pouch and case, and ToteMate
Muji inspired stackable organizer blocks, and ToteMate horizontal document and office
bag with handle.

Given the provided circumstance of the business, it is after careful consideration


of the company’s objectives and their situation regarding expansion concerns that the
researchers have suggested formulating a resource-allocation model to suggest an optimal
product mix to manufacture given the current costs in producing the product and the
profit gained from the sale of each product. The researchers also requested for the Capital
Budget Allocated for each expense in the production of the products.
The business then provided the cost of the said products which ranges from ₱79 to
₱128 (see Table 1) comprising of the Cost of Goods Sold from materials and parts bought
from suppliers and assembly made by the manufacturers. If comprising of Freight-Out to
the supposed establishment, then the cost would range from ₱81.70 to ₱133.7 (see Table
2).

Table 1. Cost of Goods Sold From Supplier and Manufacturer Costs

Table 2. Cost of Goods Sold From Supplier and Manufacturer Costs


plus Freight-Out Expense

C. Dataset for Model


The dataset includes the products included in the product expansion line of
ToteMate’s current product offerings of office/school supplies and envelopes (Figure 2-
Figure 6). The business is trying to reexamine the expansion of its new product line; thus,
finding the right product mix in order for maximizing the profit when entering the
market. The data was gathered through Google Forms answered by the business. Using
the product mix and maximization model of resource allocation, determining the
shipment that must be shipped in order to maximize the profit. Establishing the suggested
number of products produced in order to maximize profit.
Hence, the two alternative data sets are the cost of goods sold (supplier +
manufacturer) and cost of goods sold + freight-out expense. In addition, the total cost of
goods sold for Products 1 to 5 from supplier and manufacturer costs sits at ₱79, ₱80, ₱84,
₱92, and ₱128 while the addition of freight-out cost increases the total cost to ₱81.7,
₱82.6, ₱85.8, ₱95.2 and ₱133.7. The additional freight-out costs would garner 4.3%
additional costs to the total cost.
III. ALTERNATIVE COURSE OF ACTION

A. Alternative 1: The COGS of Supplier and Manufacturer

a. Model Development and Testing of the Solution

Figure 7: Model and Testing of Alternative 1

The model used is a Product Mix Optimization model, a subcategory of the


Linear Programming model. For the first alternative, the researchers made use of the
following data collected from the business: the Cost of Goods Sold (per product)
from the suppliers, the Cost of Goods Sold (per product) from the manufacturer, as
well as the budget or capital available to spend for products from the manufacturer
and the supplier. These were inputted in the variable cells (blue cells) as they are the
given data to be analyzed. The aim is to determine the quantity to be produced per
product, which is indicated by the changing cells (yellow cells). This will be filled in
with information regarding the optimal combination of products to maximize profit or
the optimal product mix. Finally, to determine the total profit expected from the
product mix, the objective cell will contain this information once the test and analysis
are accomplished (orange cell).
Figure 8: Capital Spent Formula of Alternative 1

Formulas were then inputted into the Capital Spent Cells (See Figure 8), which
are =SUMPRODUCT(CogsSupplier,UnitProductProduced) for Cell H8,
=SUMPRODUCT(COGSManufacturer,UnitProductProduced) for Cell H9, and
=SUM(CapitalSpent) for Cell H10. The sum of capital spent indicates the total cost that
was expensed from the given Caputal Budget. For the objective cell or the total profit
(See Figure 9), the formula will be =SUMPRODUCT(UnitProfit,UnitProductProduced).
For added perspective, the researchers also employed A Net Profit Computation which
has the formula =TotalProfit-TotalSpent to calculate the net profit by subtracting the
expenses attributed to each product produced.

Figure 9: Total Profit and Net Profit Formula of Alternative 1


Figure 10: Solver & Constraints for Model Alternative I

To test the given data, the study made use of an Excel solver (See Figure 10). For
the objective cell, cell I14 was indicated, and for the changing cells, cell range C14:G14.
For the constraints, CapitalSpent <= Capital Budget. The Integer Constraint was also
employed, UnitProductProduced = integer, to make sure the changing cells or the units
produced are not in decimal form pertaining to only a part of the product. The solving
method utilized is the Simplex LP method and the ‘make unconstrained variables
non-negative’ option was chosen.
b. Analysis of Results

Figure 11: Results of Excel Solver for Model Alternative 1

From the solver analysis, the optimal product mix resulted to be 208 units of
Product 3 with 0 units for the others. With this, the total profit was revealed to be
₱29,120.00. This means that the model advises Fudamax Training to discontinue its
other products and only sell an amount of 208 units of product 3 in its next supply
period given a capital budget of ₱ 30,000 where ₱ 10,000 is allocated to Supplier
Cost of Goods Sold and ₱ 20,000 is allocated to Manufacturer Cost of Goods sold.

c. Advantages and Disadvantages of Model of Alternative 1

Advantages Disadvantages

● Total Budget is indicated and Total ● Does not account for Freight-Out
Capital Spent meets the budget Expense
● Gross (total) profit is distinguished ● Budget may need to be changed
from net profit due to a lack of accounting for the
expense of freight charges.

This spreadsheet model separates total profit from net profit, which is calculated by
subtracting capital spent from the capital budget. The key is that the capital spent is
within the budgeted range. It should also be mentioned that the model includes the sum of
the costs and the budget. Meanwhile, the drawbacks include the fact that the freight-out
expenditure is not addressed in this scenario, resulting in a situation in which some
charges such as this are not considered. Because of the removal of this component, it is
possible that the capital budget may need to be manipulated owing to the absence of
relevant expenditures such as freight charges.

B. Alternative 2: The COGS of Supplier vs Manufacturer + Freight Out

a. Model Development and Testing of the Solution

Figure 12: Model and Testing of Alternative 2

Figure 12 represents the ToteMate spreadsheet model for the second


alternative, which includes the data cells, the changing cell, output cells, objective
cell, as well as the range names of each cell. The Solver's optimal solution will be
shown in the changing cells ProductProduced (C14:G14). The data shown in the
spreadsheet model above were obtained from Table 2 (see Table 2. Cost of Goods
Sold From Supplier and Manufacturer Costs plus Freight-Out Expense) wherein the
data have been transferred into the data cells – ProfitPerUnit (C4:G4),
COGSFromSupplier (C8:G8), COGSFromManufacturer (C9:G9), FreightOut
(C10:G10). Moreover, the Capital_Budget corresponds to output cells (H8:H10).
Total_Spent (H11), Total_Budget (J11), and NetProfit (J14) were also included in the
spreadsheet model to determine the total spending and capital, and the net profit after
deducting its expenses. Finally, the Total_Profit (I14) corresponds to the objective
cell.

Figure 13: Capital Spent Formula of Alternative 2

Figure 13 shows the formulas that were then inputted into the Capital Spent
(H8:H10) cells, which are the sumproduct per row of the COGS,
=SUMPRODUCT(COGSFromSupplier,ProductProduced) for the suppliers and
=SUMPRODUCT(COGSFromManufacturer,ProductProduced) for the manufacturer.
Additionally, freight out is also included, and its formula is
=SUMPRODUCT(FreightOut,ProductProduced). For the objective cell or the total profit
(see Figure 14: Total Profit and Net Profit Formula of Alternative 2), the formula will be
=SUMPRODUCT(ProductProduced,ProfitPerUnit). Furthermore, the researchers also
included a net profit computation, which has the formula =Total_Profit-Total_Spent, to
calculate the net profit by subtracting the expenses attributed to each product produced.

Figure 14: Total Profit and Net Profit Formula of Alternative 2


Figure 15: Solver & Constraints for Model Alternative 2

The study used an Excel Solver to test the given data. As shown in Figure 15, the
Total_Profit (I14) was designated as the objective cell, and selected “Max”. On the other
hand, because ToteMate cannot generate a percentage of the product, the spreadsheet
model's changing cells, ProductProduced (C14:G14), must have integer values. As a
result, rules specifying that the changing cells must be integers were added for the
constraints. To do so, in Excel's Solver, click the "Add" button in the dialog box to
choose the range of these cells C14:G14 on the left, and then select "int" from the pop-up
option on the right. Another constraint, Capital_Spent <= Capital_Budget, were added.
Furthermore, one of the assumptions of linear programming is that the changing cells can
have any value that meets the functional and nonnegativity constraints, even fractional
values. Given the circumstances of ToteMate, they cannot create partial products; hence,
there is a need to use the integer. Subsequently, the Simplex LP approach was used, and
the option to "make unconstrained variables non-negative" was selected.
b. Analysis of Results

Figure 16: Results of Excel Solver for Model Alternative 2

From Excel's Solver analysis, the optimal solution is to produce 260 units of
product 3: Totemate Muji-inspired stackable organizer blocks, and 0 units for the
other products. The product produced must have an integer value since the finished
products should be in whole and not in partial or fraction. Also, ToteMate’s total
capital budget remains the same at ₱ 30,000. However, the capital budget allocated
from the Cost of Goods Sold from both supplier and manufacturer has been lowered
from ₱ 15,000 to ₱ 12,500. This is to give funds to the freight out the expense of ₱
5,000. As a result, the Cost of Goods Sold from the Supplier needs to spend a capital
of ₱ 12,480 which satisfies the capital budget of not exceeding ₱ 12,500. On the other
hand, the Cost of Goods Sold by a Manufacturer needs to spend a capital of ₱ 9,360
which satisfies the capital budget of not exceeding ₱ 12,500. Meanwhile, ToteMate
needs to spend its capital of ₱ 468 on its freight out expenses. The costs needed to
spend by ToteMate amount to ₱ 22,308 in total. Furthermore, the Solver’s analysis
reveals that the total maximum profit that ToteMate can earn in producing 260 units
of product 3 is ₱ 36,400. Subsequently, ToteMate must deduct its costs to get the
amount of net profit, by deducting the total capital spent from the total profit. By
doing this, ToteMate will have a net profit of ₱ 14,092.
A. Advantages and Disadvantages of Model of Alternative 2

Advantages Disadvantages

● Accuracy of information ● Less net profit


● Gross (total) profit is distinguished ● Less capital budget for COGS
from net profit from Supplier and Manufacturer
which means less product
produced

The advantages of having the second alternative’s spreadsheet model include, first and
foremost, the accuracy of the data presented relative to the inclusion of the business's
freight-out expense, which is in this case included in computing for the total capital spent,
which should be within the budget. With the former characteristic being a different entity
as compared to the previous model, the provided spreadsheet also distinguishes total
profit from net profit, which is generated by deducting capital spent from the capital
budget.

Meanwhile, the disadvantages of this spreadsheet model include a lower likelihood of a


net profit because an additional freight-out charge is accounted for. With that in mind, the
cost of products sold for both the supplier and the manufacturer will have a somewhat
lower capital budget, as the business will need to balance the amount of capital that will
go to each of their expenditures. As a result, fewer products will be created.
IV. OPTIMAL SOLUTION

The optimal solutions of the spreadsheet models for Tote Mate can be represented by the
following algebraic formulation:

A. Algebraic for AlternatFormulation 1:


Let A = Product 1 (B4 ToteMate plain mesh tote Pouch)
B = Product 2 (B4 ToteMate white mesh EVA pouch organizer)
C = Product 3 (Rectangle ToteMate Muji high quality inspired EVA clear pouch)
D = Product 4 (ToteMate Muji inspired stackable organizer blocks)
E = Product 5 (ToteMate horizontal document and office bag with a handle)

Profit maximization = 110A + 113B + 140C + 145D + 193E


Subject to the following constraints:
Cost of goods sold (from supplier): 39A + 40B + 48C + 50D + 72E ≤ 20,000
Cost of goods sold (from manufacturer): 40A + 40B + 36C + 42D + 56E ≤ 10,000

Non-negativity constraints: A ≥ 0, B ≥ 0, C ≥ 0, D ≥ 0, E ≥ 0
Integer constraint: A, B, C, D, E = int

Based on the optimal solution provided by Solver Excel, The optimal number of products
manufactured to maximize the total profit of Fudamax trading while adhering the to the
Cpaital Budget constraint is to produce 208 units of Product 3. This optimal solution implies
that the best course of action for Fudamax Trading is to only produce product 3 as its main
expansion product and discontinue the other products.
B. Algebraic for Formulation for Alternative 2:
Let A = Product 1 (B4 ToteMate plain mesh tote Pouch)
B = Product 2 (B4 ToteMate white mesh EVA pouch organizer)
C = Product 3 (Rectangle ToteMate Muji high quality inspired EVA clear pouch)
D = Product 4 (ToteMate Muji inspired stackable organizer blocks)
E = Product 5 (ToteMate horizontal document and office bag with a handle)

Profit maximization = 110A + 113B + 140C + 145D + 193E


Subject to the following constraints:
Cost of goods sold (from supplier): 39A + 40B + 48C + 50D + 72E ≤ 12,500
Cost of goods sold (from manufacturer): 40A + 40B + 36C + 42D + 56E ≤ 12,500
Freight-out expense: 2.7A + 2.6B + 1.8C + 3.2D + 5.7E ≤ 5,000

Non-negativity constraints: A ≥ 0, B ≥ 0, C ≥ 0, D ≥ 0, E ≥ 0
Integer constraint: A, B, C, D, E = int

Based on the optimal solution provided by Solver Excel, The optimal number of products
manufactured to maximize the total profit of Fudamax trading while adhering to the Capital
Budget constraint is to produce 260 units of Product 3. In the alternative data set of adding the
freight cost to better represent the Cost of Goods Sold for each unit product, the optimal solution
does not deviate from the
V. CONCLUSION AND RECOMMENDATION
The objective of this paper is to outline the costs and profit attributed to each product,
find the optimal product mix for maximization of profit and identify the highest attainable total
profit given certain capital budget constraints. The paper and the excel model managed to
accomplish these objectives by using a resource-allocation model in order to find the optimal
product mix to produce given budget constraints. In both alternative datasets, the optimal
solution indicates that Product 3 is to most profitable product garners a total profit of ₱29,120.00
and a Net Profit of ₱11,648.00 with Costs of Goods Sold from Suppliers of Materials and the
businesses’ manufacturing and assembly costs. In the second data set with the inclusion of
Freight-Out cost, the total profit increased given a different Capital Budget for each of the Costs
provided that the business expressed the Freight-Out costs change the cost computation and
budgeting. This Model amounted to a Total Profit of ₱36,400.00 and a Net Profit of ₱14,092.00.

Given the results of the model, the researchers recommend that the business considers
heightening the production of product 3 to even solely producing product 3 only as this will
result in the highest attainable profit given the current costs attributed to each product and the
budget available for each Cost of Goods Expense classification. The researchers also suggest
revisiting and revising the allocation of budget to each cost Classification as this can
significantly change the Optimal Product mix and Total Profit attained.
VI. Appendix

Figure 1. Logo of ToteMate

Figure 2: B4 ToteMate plain mesh tote


Pouch

Figure 3: ToteMate white mesh Figure 4: ToteMate Muji high


EVA pouch organizer quality inspired EVA clear pouch
Figure 5: ToteMate Muji inspired Figure 6: ToteMate horizontal
stackable organizer blocks document and office bag with
a handle

Table 1. Cost of Goods Sold From Supplier and Manufacturer Costs

Table 2. Cost of Goods Sold From Supplier and Manufacturer Costs


plus Freight-Out Expense
Figure 7: Model and Testing of Alternative 1

Figure 8: Capital Spent Formula of Alternative 1

Figure 9: Total Profit and Net Profit Formula of Alternative 1


Figure 10: Solver & Constraints for Model Alternative I

Figure 11: Results of Excel Solver for Model Alternative 1


Figure 12: Model and Testing of Alternative 2

Figure 13: Capital Spent Formula of Alternative 2

Figure 14: Total Profit and Net Profit Formula of Alternative 2


Figure 15: Solver & Constraints for Model Alternative 2

Figure 16: Results of Excel Solver for Model Alternative 2


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