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The annual demand of a product for the next five years is 2, 3, 1, 2, and 3 units. The maximum procurement quantity is 5
The annual demand of a product for the next five years is 2, 3, 1, 2, and 3 units. The maximum procurement quantity is 5 units. The procurement cost is $200 each time. The holding cost is based on the inventory level at the end of the year and the unit holding cost is $40 per year. The maximum inventory level allowed in the warehouse is 6 units. Find the sequence of procurement quantities resulting in the minimum cost for the next five years
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