Question: The demand for a product ( that can be made only in discrete integer numbers ) for the coming three months ( Month - 1
The demand for a product that can be made only in discrete integer numbers for the coming three months Month Month and Month is expected to be units, units and units respectively. The production capacity for the three months are units, units and units respectively. The maximum inventory that can be carried at the end of Month Month and Month are units, units and units respectively. The cost for producing a unit in Month is Rs in Month is Rs and in Month is Rs A holding cost of Rs per unit per period is incurred for items in inventory at the end of Month or at the end of Month However, for Month the holding cost is Rs per unit per period. A dynamic programming approach with an aim of minimize the total cost for satisfying the demand is adopted to solve the problem. Then, if the ending inventory in Month was unit
What is the OPTIMAL TOTAL COST for the problem?
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