In a multi-period production scheduling application,the objective function is to:
A)minimize production and inventory costs
B)minimize demand over the production horizon
C)maximize capacity over the production horizon
D)minimize capacity over the production horizon
E)maximize inventory

Question

Quizplus · Accepted Answer

The objective function in a multi-period production scheduling should aim to minimize production and inventory costs to maximize efficiency and profitability. This involves finding the right balance between production levels and inventory levels to meet customer demand while minimizing storage and handling costs. Minimizing demand or maximizing capacity may not necessarily lead to the most efficient use of resources or optimal financial outcomes. Maximizing inventory is also not desirable as it ties up resources and can lead to increased costs.

In a Multi-Period Production Scheduling Application,the Objective Function Is To