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Inventory models deal with the problem of determination of how much to order at a point in time and when to place an order. The main objective is to minimize the sum of three conflicting inventory costs. the cost of holding or carrying extra inventory the cost of shortage or delay in the delivery of items when it is needed a cost of ordering or setup. These are also useful in dealing with quantity discounts and selective inventory control.
impact of sequencing problem
Calculation of Standard Deviation - Continuous Series: In the continuous series the methods of calculation standard deviation is almost the same as in a discrete frequency distrib
In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
formulate the linear programming model of the table above
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment
A certain type of machine breaks down at an average rate of 5/hour. the break down is in accordance with Poisson process.cost of idle machine hour is $15/hour. 2 repairmen Peter an
B A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper
EXPLAIN THE OR TECHNIQUES
Dynamic programming may be considered thoutgrowth of mathematical programming and involves the optimization of multistage( sequence of inter related decisions) decision process
write the scope of operation research
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