I"m having issues calculating the holding cost. For the below example problem. Use the lot sizing model to determine the total cost of the Lot-for-lot heuristic. Month Period Demand Jan. 1 110 Feb. 2 40 Mar. 3 150 Apr. 4 130 May 5 60 Jun. 6 30 Jul. 7 20 Aug. 8 30 Sep. 9 80 Oct. 10 120 Nov. 11 130 Dec. 12 100 Total 1000 Given cost parameter: Value Order cost $25 Unit cost $8 Holding cost rate (monthly) 5%

I"m having issues calculating the holding cost. For the below example problem. Use the lot sizing model to determine the total cost of the Lot-for-lot heuristic. Month Period Demand Jan. 1 110 Feb. 2 40 Mar. 3 150 Apr. 4 130 May 5 60 Jun. 6 30 Jul. 7 20 Aug. 8 30 Sep. 9 80 Oct. 10 120 Nov. 11 130 Dec. 12 100 Total 1000 Given cost parameter: Value Order cost $25 Unit cost $8 Holding cost rate (monthly) 5%

Name: I"m having issues calculating the holding cost. For the below example
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Description: I"m having issues calculating the holding cost. For the below example problem.Use the lot sizing model to determine the total cost of the Lot-for-lot heuristic. MonthPeriodDemand Jan.1110 Feb.240 Mar.3150 Apr.4130 May560 Jun.6

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section10.4: Simulation With Built-in Excel Tools

Problem 13P

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Use the lot sizing model to determine the total cost of the Lot-for-lot heuristic.

Month	Period	Demand
Jan.	1	110
Feb.	2	40
Mar.	3	150
Apr.	4	130
May	5	60
Jun.	6	30
Jul.	7	20
Aug.	8	30
Sep.	9	80
Oct.	10	120
Nov.	11	130
Dec.	12	100
	Total	1000

Given cost parameter:
	Value
Order cost	$25
Unit cost	$8
Holding cost rate (monthly)	5%