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3. (40 points) A manufacturing company is scheduling the monthly production of a drilling tool for the next 5 months. Forecasted monthly demands are 400,

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3. (40 points) A manufacturing company is scheduling the monthly production of a drilling tool for the next 5 months. Forecasted monthly demands are 400, 700, 680, 720, and 550 units, respectively. Demands must be met and no shortage is allowed. The company can produce a maximum 550 units per month. From the second month, the company can choose to employ overtime and/or outsource the product to another company to increase the production. Employing overtime will increase the production by 150 units per month and outsourcing will increase the production by 120 units per month. The production cost is $20/unit in the first two months and $18/unit in the rest three months. Employing overtime will increase the unit cost by S5 and outsourcing will increase the unit cost by $3. Inventory cost is $4 per unit per month. How to schedule the production so that the total cost is minimized? Please formulate it as a transportation problem. Clearly state the decision variable(s), draw the table, and solve it using the greedy algorithm. Based on the solution, state the schedule and show the final cost. 3. (40 points) A manufacturing company is scheduling the monthly production of a drilling tool for the next 5 months. Forecasted monthly demands are 400, 700, 680, 720, and 550 units, respectively. Demands must be met and no shortage is allowed. The company can produce a maximum 550 units per month. From the second month, the company can choose to employ overtime and/or outsource the product to another company to increase the production. Employing overtime will increase the production by 150 units per month and outsourcing will increase the production by 120 units per month. The production cost is $20/unit in the first two months and $18/unit in the rest three months. Employing overtime will increase the unit cost by S5 and outsourcing will increase the unit cost by $3. Inventory cost is $4 per unit per month. How to schedule the production so that the total cost is minimized? Please formulate it as a transportation problem. Clearly state the decision variable(s), draw the table, and solve it using the greedy algorithm. Based on the solution, state the schedule and show the final cost

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