20 9. Goods are continually removed from inventory at a steady sales rate of d u

Question

20 9. Goods are continually removed from inventory at a steady sales rate of d units per day, at a sales price of r$ per unit. Évery y periods the inventory replenished with a production run of x units. There is a fixed cost of K each production run, as well as a variable cost of c $ per unit produced there are units in inventory there is an inventory holding cost of h per day. While there are no units in i per day for sales not met. Formulate the non-linear objective which will allow management to determine the values of x and y which maximize the average daily profit, as a function of d, r, k, c, h and I $ for . While $ per unit nventory there is a penalty of I $ per unit

Explanation / Answer

At a rate of r per unit.

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