Algorithm optimizing profitability in the manufacturing industry
DOI:
https://doi.org/10.56764/hpu2.jos.2023.2.3.19-33Abstract
This article focuses on optimizing profitability in the manufacturing sector by integrating critical elements such as production, pricing, resource allocation, and cost analysis. Through preliminary steps, the article proposes a complex mathematical model to maximize profit by making intelligent decisions regarding production and pricing. Predicting demand, analyzing costs, and allocating resources appropriately play crucial roles in achieving this goal. The article also underscores the importance of risk management and adaptability in a volatile market environment, ensuring sustained competitiveness and profitability.
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