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Managerial Aspects of Least-Cost Feed Formulation with Linear Programming

Author

Listed:
  • Stafford, Joseph H.
  • Ott, Leland E.
  • Snyder, James C.

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.

Suggested Citation

  • Stafford, Joseph H. & Ott, Leland E. & Snyder, James C., 1965. "Managerial Aspects of Least-Cost Feed Formulation with Linear Programming," Marketing Research Reports 312226, United States Department of Agriculture, Agricultural Marketing Service, Transportation and Marketing Program.
    • Handle: RePEc:ags:uamsmr:312226
    DOI: 10.22004/ag.econ.312226
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    File URL: https://ageconsearch.umn.edu/record/312226/files/mrr729.pdf
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    Citations

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    Cited by:

    1. Pfeiffer, W.C., 1976. "Basic Methods and Guidelines for Least-Cost Livestock Feed Forumlation," Working Papers 245014, University of Guelph, Department of Food, Agricultural and Resource Economics.
    2. Pfeiffer, W.C., 1976. "A Computer Program for Least Cost Livestock Feed Formulation," Working Papers 245013, University of Guelph, Department of Food, Agricultural and Resource Economics.

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