Here is the mission statement of the project –
SleepMore Mattress Manufacturing is seeking to change its production mixes to meet market demand. They also need some simulation techniques to prepare for upcoming sales that will impact their production schedules.
The primary objective of our analysis project is to devise strategies that enable us to maximize profits. Our company aims to achieve this by focusing on a variety of fundamental objectives, each of which will be addressed through specific means. Our project is designed to delve deeper into the various aspects that can impact our profitability and come up with actionable solutions.
The purpose of this project is to examine three different production mixes given to us by Sleepmore Manufacturing. We also will take into account new laws that are in legislation for new labeling and certification which is expected to be rolled out to all mattress manufacturers. This law will increase the cost for all mattresses that contain specific foam that is used on all-foam and hybrid mattresses. The cost of other mattresses is not affected.
From the statement you should have an understanding of the project and the analysis process.
Explain the decision tree and risk profile process.
decision tree – choose best production mix (EXPLAIN THIS DECISION USING THE EXCEL I PROVIDED)
Decision Tree – Foam Mattress Type with Lowest Cost and explain all the risk profiles (probability, cumulative, statistical summary,
Look at the data source tab and explain the production cost.
must have precision tree add in – in your excel to see the analysis and charts