Build a dynamic monthly production schedule Pt over 6 months via a linear program using the data
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Build a dynamic monthly production schedule Pt over 6 months via a linear program using the data in Table 1 for demands, unit production costs, and costs for holding a unit of inventory. Shortages are not allowed.
TABLE 1 Month Demand Unit Production Costs (E) Unit Inventory Costs (E) 1 1,300 98 5.0 2 1,600 104 5.0 3 900 108 5.0 4 700 120 5.0 5 1,800 105 5.0 6 2,000 105 5.0 The constraints of the problem are given below: 1,250 (no more than 250 units can be stored) II+P-D (Inventory clearing account equation) 4 = 200 16 = 150 20. P20 for t = 1, ...,6 The objective function to minimize is given instead by the following cost function: = (CP 1-1
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Related Book For
Elements Of Numerical Mathematical Economics With Excel Static And Dynamic Optimization
ISBN: 9780128176498
1st Edition
Authors: Giovanni Romeo
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