Determine production schedule at the minimum total cost

Reference no: EM131688264

The company can produce a maximum of 300 alarm systems per month. The company wants to determine its production schedule for the last six months of the year. The cost to produce an alarm system in July will be $1,000. However, the company knows the cost of component parts will decrease 3% each month. The cost of holding an alarm system in inventory is $10 per month. Following is the demand for the company’s alarm systems each month:

Month Demand Month Demand

July 300 October 220

August 200 November 410

September 340 December 330

Determine a production schedule at the minimum total cost using QM for windows.

Reference no: EM131688264

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