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A commodity is to be supplied at the constant rate of 200 units per day. Supplies of any amount can be had at any required time but each ordering costs Rs. 50/-. Cost of holding the commodity in inventory is Rs. 2/- per unit per day while the delay in the supply of the item induces a penalty of Rs.10/- per unit per delay of one day. Find the optimal policy, q and t, where t is the reorder cycle period and q is the inventory level after reorder. What would be the best policy if the penalty cost becomes infinity?

A commodity is to be supplied at the constant rate of 200 units per day. Supplies of any amount can be had at any required time but each ordering costs Rs. 50/-. Cost of holding the commodity in inventory is Rs. 2/- per unit per day while the delay in the supply of the item induces a penalty of Rs.10/- per unit per delay of one day. Find the optimal policy, q and t, where t is the reorder cycle period and q is the inventory level after reorder. What would be the best policy if the penalty cost becomes infinity?

Elements Of Electromagnetics
Elements Of Electromagnetics
7th Edition
ISBN:9780190698614
Author:Sadiku, Matthew N. O.
Publisher:Sadiku, Matthew N. O.
ChapterMA: Math Assessment
Section: Chapter Questions
Problem 1.1MA
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A commodity is to be supplied at the constant rate of 200 units per day. Supplies of any amount can be had at any required time but each ordering costs Rs. 50/-. Cost of holding the commodity in inventory is Rs. 2/- per unit per day while the delay in the supply of the item induces a penalty of Rs.10/- per unit per delay of one day. Find the optimal policy, q and 1, where t is the reorder cycle period and q is the inventory level after reorder. What would be the best policy if the penalty cost becomes infinity?
Transcribed Image Text:A commodity is to be supplied at the constant rate of 200 units per day. Supplies of any amount can be had at any required time but each ordering costs Rs. 50/-. Cost of holding the commodity in inventory is Rs. 2/- per unit per day while the delay in the supply of the item induces a penalty of Rs.10/- per unit per delay of one day. Find the optimal policy, q and 1, where t is the reorder cycle period and q is the inventory level after reorder. What would be the best policy if the penalty cost becomes infinity?
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