Question: Problem #1 (10 points) Use dynamic programming (graphical approach) to find the optimal policy and minimum total cost for the following four-month deterministic inventory problem

Problem #1 (10 points) Use dynamic programming
Problem #1 (10 points) Use dynamic programming (graphical approach) to find the optimal policy and minimum total cost for the following four-month deterministic inventory problem with time sensitive demand. The demand and cost data for each month are provided in the following table. The initial inventory available at the beginning of the first month is 20 units and it is desired to have 20 units of inventory at the end of the 4 month. Period (monthi) Setup cost Ki (in S/order) Demand (in units) 120 140 180 Unit production cost c; (in S/order) 2.5 3.0 2.6 Unit holding cost hi(in S/unit/month) 0.6 0.8 0.7 0.9 Problem #1 (10 points) Use dynamic programming (graphical approach) to find the optimal policy and minimum total cost for the following four-month deterministic inventory problem with time sensitive demand. The demand and cost data for each month are provided in the following table. The initial inventory available at the beginning of the first month is 20 units and it is desired to have 20 units of inventory at the end of the 4 month. Period (monthi) Setup cost Ki (in S/order) Demand (in units) 120 140 180 Unit production cost c; (in S/order) 2.5 3.0 2.6 Unit holding cost hi(in S/unit/month) 0.6 0.8 0.7 0.9

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