Question: Homework Problems for Multi-Period Planning You are required to provide Excel linear program setups and solutions for 3 out of 4 problems. In case you

Homework Problems for Multi-Period Planning You

Homework Problems for Multi-Period Planning You are required to provide Excel linear program setups and solutions for 3 out of 4 problems. In case you submit all 4 problems, we will grad the first 3 problems. Please turn in one Excel file with solutions of each problem on a different sheet. Problem 1. The pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. It has decided to use a six-month planning horizon. The forecasted demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5,000 footballs in inventory and it can use a given month's production to help meet the demand for that month. During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month. The forecasted production costs per football for the next six months are $12.50, $12.55, $12.70, $12.80, $12.85, and $12.95, respectively. The holding cost per football held in inventory at the end of any month is figured at 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because it is assumed that all demand will be met exactly when it occurs---at whatever the selling price is. Therefore, Pigskin wants to determine the production schedule that minimizes the total production and holding costs

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