Question: Problem Statement Consider the Steel Production Problem formulated in the lab preparation materials. Fabricating steel slabs is not a single - week operation, but requires
Problem Statement Consider the Steel Production Problem formulated in the lab
preparation materials. Fabricating steel slabs is not a single week operation, but requires longerterm planning. We want to plan the production for the next T weeks, rather than for a single week. Assume that you can sell everything you produce. Some of a week's production can be placed in inventory, for sale at any later week. There is an inventory fee per ton per week. The following information is available and organized in various tables: Table : Available factory time hrs per week Table : Production rate tonhrs initial inventory ton production cost $ton and inventory cost Ston for each product. Table : Revenue $ton for each product for each week. Table : Production capacity ton for each product for each week. Formulate an optimization problem that can be used to maximize the total profit. Create a new mod, dat, and run file to reflect the changes made to the Steel Production Problem. Table : Available factory time per week. Table : Production rate, initial inventory, production cost, and inventory cost for each product. Table : Revenue for each product for each week. Table : Production capacity for each product for each week.
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