Hot Dee is a hot sauce producer. The demand forecast for the next four weeks, unit...

 

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Hot Dee is a hot sauce producer. The demand forecast for the next four weeks, unit production, and inventory holding costs are given in the table below. Currently, there are 500 bottles on-hand. Due to the contract obligations, no shortages are allowed. At the end of the 4th week, the on-hand inventory must be more than 400 units. 1 2 3 4 Week Demand Forecast Unit Production Cost (S) 2800 3400 3600 2900 5.00 5:25 5.50 4.95 Unit Inventory Holding Cost ($) 0.10 0.12 0.12 0.10 . a. Use the level production strategy. What is a good production level? What is the total cost? (Production + Inventory holding). Show all work. b. Use the chase demand production strategy. What is the production level for each week? What is the total cost? Show all work. c. Use the minimum cost strategy (optimization with linear programming). What is the production level for each week? What is the total cost? Show all work including Excel Solver parameters or LPSolve model. Hot Dee is a hot sauce producer. The demand forecast for the next four weeks, unit production, and inventory holding costs are given in the table below. Currently, there are 500 bottles on-hand. Due to the contract obligations, no shortages are allowed. At the end of the 4th week, the on-hand inventory must be more than 400 units. 1 2 3 4 Week Demand Forecast Unit Production Cost (S) 2800 3400 3600 2900 5.00 5:25 5.50 4.95 Unit Inventory Holding Cost ($) 0.10 0.12 0.12 0.10 . a. Use the level production strategy. What is a good production level? What is the total cost? (Production + Inventory holding). Show all work. b. Use the chase demand production strategy. What is the production level for each week? What is the total cost? Show all work. c. Use the minimum cost strategy (optimization with linear programming). What is the production level for each week? What is the total cost? Show all work including Excel Solver parameters or LPSolve model.

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I can certainly help you with this problem To solve this production and inventory management problem you can use linear programming LP with a goal of ... View the full answer