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Green Valley Gardens ( GVG ) is a small floral shop in a suburban town. They specialize in creating custom floral arrangements for various occasions.
Green Valley Gardens GVG is a small floral shop in a suburban town. They specialize in creating custom floral arrangements for various occasions. The time required to assemble one floral arrangement is minutes, and the cost per arrangement is $ GVG employs four florists, each working eighthour shifts, five days a week assume four weeks per month The estimated demand for the next five months is as follows:
Month : arrangements
Month : arrangements
Month : arrangements
Month : arrangements
Month : arrangements
GVG wants to maintain a minimum of three arrangements in inventory at all times. The current inventory is five arrangements. The inventory holding cost is of the production cost.
Therefore, the inventory holding cost is $$ Create and solve an optimization model to determine the optimal number of floral arrangements to assemble each month, aiming to minimize the total cost while meeting the expected demand.
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