Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. A TV company produces Smart TVs. The company wants to plan production and workforce levels forthe next 6 months. The table below shows the number of workdays and Smart TV demand (in thousands)for each month. Note that if the demand is exceeded, the leftovers can be carried to the next month. If thedemand is not satisfied, the items are backordered.The annual inventory holding cost per Smart TV is $120. If the company cannot satisfy a demand ontime, a backorder cost of $30 is incurred. Additionally, past data shows that 25 workers can produce 60thousand Smart TVs in 20 days. The company currently has 35 workers and 3000 Smart TVs in stock. Thecompany incurs a hiring cost of $800 and firing cost of $1200 per worker. The company cannot hire or firemore than 10% of its workforce in any month (i.e., if there are 30 workers at the end of a month, they canhire or fire a maximum of 3 people starting next month). The payroll is $60 per worker per day.Suppose that the company cannot change the number of workers they have for the first 3 months. Thecompany also aims to have at least 25 workers and 10 Smart TVs in stock at the end of the 6 month planninghorizon. Write a Linear Programming (LP) model that identifies the workforce and production plan, aimingto minimize the total cost.Month123456Workdays202221202221Demand (in thousands)80100908510595

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A TV company produces Smart TVs. The company wants to plan production and workforce levels for the next 6 months. The table below shows the number of workdays and Smart TV demand (in thousands) for each month. Note that if the demand is exceeded, the leftovers can be carried to the next month. If the demand is not satisfied the items are backordered

A TV company produces Smart TVs. The company wants to plan production and workforce levels for the next 6 months. The table below shows the number of workdays and Smart TV demand (in thousands) for each month. Note that if the demand is exceeded, the leftovers can be carried to the next month. If the demand is not satisfied the items are backordered

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter3: Introduction To Optimization Modeling

Section3.8: A Multiperiod Production Model

Problem 22P

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