Lec 12 - IEOR 151 Notes 10/13 Team 12 Schedule: 10/12...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: IEOR 151 Notes 10/13 Team 12 Schedule: 10/12 presentations (4 6) 10/27 midterm (review session before) 11/8 NO LECTURE (work on project) 11/10 presentations (7 10) 11/17 presentations(11 13) 11/24 NO LECTURE (Thanksgiving) 12/1 overview: final exam, industry, not covered issues 12/6 week project 12/17 final project reports due INVENTORY MODELS Last Lecture: beer sellers problem Input: D, r, c, v Decision Variable: y Optimal Solution: prob(y>D)= C CC where Cu=r c underage cost Co=c v overage cost Suppose we cant return the beer (NO v), but we can keep it and sell it the next day (h, holding cost): Input: D, r, c, h C CC = Decision Variable: y Cu=r c Co=c+h Considering also (penalty cost) a loss of goodwill: Input: D, r, c, h, Decision Variable: y Cu=r c+ Co=c+h (s, S) POLICY itial invento Consider in If I > s inv r e If I < s ord (R, Q) POLIC ombina C example: They consid the hospita the bank: th...
View Full Document

Page1 / 3

Lec 12 - IEOR 151 Notes 10/13 Team 12 Schedule: 10/12...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online