A company must meet the following demands on time: month 1, 1 unit; month 2, 1 unit; month 3, 2 units; month 4, 2 units. It costs $4 to place an order, and a $2 per-unit holding cost is assessed against each month’s ending inventory. At the beginning of month 1, 1 unit is available. Orders are delivered instantaneously. a Use a backward recursion to determine an optimal ordering policy. b Use the Wagner–Whitin method to determine an op- timal ordering policy. c Use the Silver–Meal heuristic to determine an or- dering policy.

A company must meet the following demands on time: month 1, 1 unit; month 2, 1 unit; month 3, 2 units; month 4, 2 units. It costs $4 to place an order, and a $2 per-unit holding cost is assessed against each month’s ending inventory. At the beginning of month 1, 1 unit is available. Orders are delivered instantaneously. a Use a backward recursion to determine an optimal ordering policy. b Use the Wagner–Whitin method to determine an op- timal ordering policy. c Use the Silver–Meal heuristic to determine an or- dering policy.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

A company must meet the following demands on time:
month 1, 1 unit; month 2, 1 unit; month 3, 2 units; month
4, 2 units. It costs $4 to place an order, and a $2 per-unit
holding cost is assessed against each month’s ending
inventory. At the beginning of month 1, 1 unit is available.
Orders are delivered instantaneously.
a Use a backward recursion to determine an optimal
ordering policy.

b Use the Wagner–Whitin method to determine an op-
timal ordering policy.

c Use the Silver–Meal heuristic to determine an or-
dering policy.

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Step 4: Solution (c)\begin{array}{cccc}\text{Period} & \text{Ending Inventory} & \text{Order Quantity} & \te

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