In a multi$-$period production scheduling application, which equation describes the relationship between demand, production, and inventory?

A$)$ production ${?}_t+$ demand ${?}_t-$ inventory $t-1=$ inventoryt ${?}_t$

B$)$ production ${?}_t+$ demand ${?}_t+$ inventory ${?}_t-1=$ inventory ${?}_t$

C$)$ production ${?}_t-$ demand $t-1+$ inventory $t-1=$ inventoryt

D$)$ production ${?}_t-$ demand ${?}_t+$ inventory ${?}_t=$ inventory ${?}_t-1$

E$)$ production ${?}_t-$ demand ${?}_t+$ inventory $t-1=$ inventoryt

Answer:

Page Ref: $95$

Topic: Multi$-$period Applications

Difficulty: Easy

In a multi$-$period production scheduling application, the objective function is to:

A$)$ minimize production and inventory costs

B$)$ minimize demand over the production horizon

C$)$ maximize capacity over the production horizon

D$)$ minimize capacity over the production horizon

E$)$ maximize inventory