Inventory Management Plotting
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A factory can store 50 gallons at its location. Production uses three gallons per hour. The supplier can provide four gallons per hour. Assuming the factory starts with nothing on hand, and the supplier and factory are producing as much as possible, plot the inventory levels in the factory.
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Solution Summary
This solution computes an optimal inventory level of a factory and the maximum quantity that it can order. An excel file is attached to show how this can be done.
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Facts:
The factory can store 50 gallons as day
Production uses 3 gallons per hour. In an 8-hour operation per day, it means a requirement of 24 gallons a day.
The supplier can provide 4 gallons per hour. In an 8-hour working day, it means 32 ...
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