The manager of a LaMode company has developed a forecast shown in the table for boxes of cloth. The table also shows the production cost per box, the holding cost per box, the production capacity, the inventory capacity. The company now has 30 boxes of cloth as a beginning inventory of the first period. Formulate a linear programming model to minimize the cost. Calculate inventory cost based on amounts of inventory at the end of each period.
Formulation in Excel
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Solved: The manager of a LaMode company has developed a forecast shown in the table for boxes
Total cost = 28,504.75