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Tutorial 14 - Continuous Review

The document provides three examples of inventory management problems to determine optimal ordering policies for different businesses. The first example is for a petrol station that sells 2500 litres of diesel per day and has a demand range of 0-100 litres during lead time. The second example is for a paint shop that uses 1200 litres of thinner per month and has a demand range of 0-80 litres during lead time. The third example is for a service centre that uses 500 litres of motor oil per month and has a demand range of 0-100 litres during lead time. For each example, the document asks to determine the optimal ordering policy through a specified number of iterations.

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44 views1 page

Tutorial 14 - Continuous Review

The document provides three examples of inventory management problems to determine optimal ordering policies for different businesses. The first example is for a petrol station that sells 2500 litres of diesel per day and has a demand range of 0-100 litres during lead time. The second example is for a paint shop that uses 1200 litres of thinner per month and has a demand range of 0-80 litres during lead time. The third example is for a service centre that uses 500 litres of motor oil per month and has a demand range of 0-100 litres during lead time. For each example, the document asks to determine the optimal ordering policy through a specified number of iterations.

Uploaded by

dikkan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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1.06.

2021

TUTORIAL 14: CONTINUOS PERIOD MODEL (R, Q) POLICY


MSG355 INVENTORY CONTROL
SEMESTER 2 2019/2020
1. A petrol station sells diesel at the rate of 2500 litres per day. It costs the shop
RM50 to place an order. The holding cost is RM5 per litre per month and the
shortage cost is RM10 per litre. Previous data show that the demand during
lead time is uniform over the range (0, 100) litres. Determine the optimal
ordering policy for this station. [Show only 4 iterations].

2. A paint shop uses thinner at the rate of 1200 litres per month. It costs the
shop RM60 to place an order. The holding cost is RM5 per liter per month
and the shortage cost is RM8 per litre. Previous data show that the demand
during lead time is uniform over the range (0, 80) litres. Determine the
optimal ordering policy for this paint shop. [Show only 3 iterations].

3. A service centre uses motor oil at the rate of 500 litres per month. It costs the
shop RM50.00 to place an order. The holding cost is RM5.00 per liter per month
and the shortage cost is RM10.00 per litre. Previous data show that the demand
during lead time is uniform over the range (0, 100) litres. Determine the optimal
ordering policy for this service centre. [Show only 2 iterations].

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