Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider the following inventory problem. You are running a company that sells some large product (let's assume you sell trucks), and predictions tell you the

image text in transcribed

Consider the following inventory problem. You are running a company that sells some large product (let's assume you sell trucks), and predictions tell you the quantity of sales to expect over the next n months. Let di denote the number of sales you expect in month i. We'll assume that all sales happen at the beginning of the month, and trucks that are not sold are stored until the beginning of the next month. You can store at most S trucks, and it costs C to store a single truck for a month. You receive shipments of trucks by placing orders for them, and there is a fixed ordering fee of each time you place an order (regardless of the number of trucks you order) You start out with no trucks. The problem is to design an algorithm that decides how to place orders so that you satisfy all the demands {dj, and minimize the costs. In summary: There are two parts to the cost: (1) storage-it costs C for every truck on hand that is not needed that month; (2) ordering fees-it costs K for every order placed. In each month you need enough trucks to satisfy the demand di, but the number left over after satisfying the demand for the month should not exceed the inventory limit S. Give an algorithm that solves this problem in time that is polynomial in n and S

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Database Systems

Authors: Ramez Elmasri, Sham Navathe

4th Edition

0321122267, 978-0321122261

More Books

Students also viewed these Databases questions