Question: Solve the following dynamic lot sizing problem: determine the order/production quantity in each period and the level of inventory at the end of each period,

Solve the following dynamic lot sizing problem: determine the order/production quantity in each period and the level of inventory at the end of each period, using the following policies - EOQ - Silver-meal heuristic - Part-period balancing - Wagner-Whitin procedure

The demand over the six-month horizon is (20,40,50,30,10,30). The order setup cost is $100, if the order is placed in the first three months, and the order setup cost is $150 if the order is placed in the last three months. The holding cost per unit per month is $2.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!