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Use Python to slove this problem Q1: Inventory planning with quantity discounts Over the next 12 months you anticipate the following demand for a product
Use Python to slove this problem
Q1: Inventory planning with quantity discounts Over the next 12 months you anticipate the following demand for a product that you sell: Month 1 2 3 45 6 7 8 9 10 12 Demand (units) 5 6 5 6 7 343 85 45 At the beginning of month 1, you have 2 units in inventory. At the beginning of each month, you may order as many units of inventory as you like, and they are delivered essentially immediately Ordering costs are as follows: Price for each of the first 5 units ordered: Price for each unit after the 5th unit: $10.00 S 8.00 For example: Ordering 2 units costs 2 x $10 $20 Ordering 8 units costs 5 x S10+ (8-5)x S8-$74. There is space for up to 20 units of inventory and your holding cost for each month is $0.80 per unit, applied to the average of the starting and ending inventory for the month. There is no limit to the amount that you can order, except that you cannot exceed 20 units of inventory at the end of each month. There is no benefit or credit for having leftover inventory at the end of month 12. Create a Python program that computes the lowest-cost ordering plan, considering both ordering costs and inventory costs. Print out and hand in both the source code for your program and its output. In addition, upload your source code to BlackBoard, under "Assignments" and "Homework Assignment 6, Q1". You are encouraged to use the Python codes and templates distributed in class as a starting point for your code Q1: Inventory planning with quantity discounts Over the next 12 months you anticipate the following demand for a product that you sell: Month 1 2 3 45 6 7 8 9 10 12 Demand (units) 5 6 5 6 7 343 85 45 At the beginning of month 1, you have 2 units in inventory. At the beginning of each month, you may order as many units of inventory as you like, and they are delivered essentially immediately Ordering costs are as follows: Price for each of the first 5 units ordered: Price for each unit after the 5th unit: $10.00 S 8.00 For example: Ordering 2 units costs 2 x $10 $20 Ordering 8 units costs 5 x S10+ (8-5)x S8-$74. There is space for up to 20 units of inventory and your holding cost for each month is $0.80 per unit, applied to the average of the starting and ending inventory for the month. There is no limit to the amount that you can order, except that you cannot exceed 20 units of inventory at the end of each month. There is no benefit or credit for having leftover inventory at the end of month 12. Create a Python program that computes the lowest-cost ordering plan, considering both ordering costs and inventory costs. Print out and hand in both the source code for your program and its output. In addition, upload your source code to BlackBoard, under "Assignments" and "Homework Assignment 6, Q1". You are encouraged to use the Python codes and templates distributed in class as a starting point for your codeStep by Step Solution
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