Most gasoline stations have a storage capacity Q max that cannot be exceeded. Refine the inventory algorithm

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Most gasoline stations have a storage capacity Qmax that cannot be exceeded. Refine the inventory algorithm to take this consideration into account. Because of the probabilistic nature of the demand submodel at the end of the inventory cycle, there might still be significant amounts of gasoline remaining. If several cycles occur in succession, the excess might build up to Qmax. Because there is a financial cost in carrying excess inventory, this situation would be undesirable. What alternatives can you suggest? Modify the inventory algorithm to take your alternatives into account.

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A First Course In Mathematical Modeling

ISBN: 9781285050904

5th Edition

Authors: Frank R. Giordano, William P. Fox, Steven B. Horton

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