A manufacturer of 19" LCD monitors encounters the following quarterly production cost,demand,and production capacity for its monitors:
To maintain a stable workforce,the manufacturer wants to produce at least 500 units each quarter.To meet unexpected fluctuation in demand,the company wants to hold at least 100 monitors in stock each quarter.The cost of carrying a monitor in stock is $5 each quarter.Assume that beginning inventory is zero.Use Excel to formulate and solve this problem to determine to minimize production and inventory costs.
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