It costs $12 to make a single unit using regular production and $15 to make a single unit using overtime production. Total overtime production is limited to 500 units for the five month period
The manufacturing plant has a regular production capacity of 250 units per month and 50 units in inventory at the start of the planning period. There is a $5 per unit charge for holding inventory at the end of each month and a limit of 250 units ending inventory for any period. Develop an objective function and constraints to solve this problem.
Month Forecast
January 250
February 200
March 300
April 400
May 500
What will be an ideal response? q
Answer:
Min Cost = 12 + 15 + 5
subject to:
+ ≥ Min Cost
Regular Output ≤ 250
Ending Inventory ≤ 250
Ending Inventory ≥ 0
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