The Tots Toys Company is trying to schedule production of two very popular toys for the next

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The Tots Toys Company is trying to schedule production of two very popular toys for the next three months: a rocking horse and a scooter. Information about both toys is given below.
Production Begin. Invty. Required Production Required Plastic Time June 1 Cost Toy Cost Rocking Horse 5 2 25 12 Scooter
Plastic Time Monthly Demand Monthly Demand Summer Schedule Available Available Scooter Horse 3500 2100 220 450 June July

Develop a model that would tell the company how many of each toy to produce during each month.
You are to minimize total cost. Inventory cost will be levied on any items in inventory on June 30, July 31, or August 31 after demand for the month has been satisfied. Your model should make use of the relationship
Beginning Inventory + Production - Demand = Ending Inventory
for each month. The company wants to end the summer with 150 rocking horses and 60 scooters as beginning inventory for Sept. 1. Don't forget to define your decision variables.
Based on your model, evaluate your model further, any suggestions to Tots Company?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
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Related Book For  book-img-for-question

Introduction to Operations Research

ISBN: 978-1259162985

10th edition

Authors: Frederick S. Hillier, Gerald J. Lieberman

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