Develop an lp model to determine optimum schedule

Reference no: EM131746605

Formulation. Formulate a LP model for the following problem. (Do not solve) Demand for a product for the following quarters is 500, 70o, 600, 300 units, respectively. The price per units starts at $30 in supplier can provide no more than 500 units in any one quarter. Although we can take advantage of lower prices in early quarters, a storage cost per units starts at $3 in the first quarter the first quarter and increases by $5 each quarter thereafter. The and increase by $1 each quarter thereafter (Storage cost is charged on end-of-month inventory). In addition, the number of units that can be held over form one quarter to the next must be 50 or less. Develop an LP model to determine the optimum schedule for purchasing the item to meet the demand.

a. Define the decision variables

b. Write down the LP objective function.

c. Write down the LP constraints.

Reference no: EM131746605

Questions Cloud

How did their wardrobe enhance their routine : How long did the set last? What was the theme of the opener of the set? How did their wardrobe enhance their routine?

Methods available to facilitate coordination of care : Describe types of coordination of care and methods available to facilitate coordination of care. Be specific and provide examples.

Describe the four stages of the capital decision : Identify and describe the four stages of the capital decision-making process according to your textbook

What is the value of self service in an economy : What is the value of self service in an economy?

Develop an lp model to determine optimum schedule : Develop an LP model to determine the optimum schedule for purchasing the item to meet the demand. Write down the LP objective function.

Human resources representative in large organization : You are the senior Human Resources representative in a large organization with locations throughout the United States.

Small fraction of corporate revenues : Corporate Philanthropy represents a very small fraction of corporate revenues.

What are three nontraditional barriers to entry associated : What are three nontraditional barriers to entry associated with entrepreneurial firms?

Programs intended to boost employees motivation : Highlights some popular icentivized programs intended to boost employees motivation.

User Account

All Pages