Talking about schedules at the beginning here. Class this week and next week. The week after that is Spring break. The week after that, March 24th, will be online, with no face-to-face meeting. The week after that will be a test.Talking about inventory.
If you wait too long to reorder inventory, you can run out of an inventory item. This is called a stockout. Many organizations will keep a buffer of stock at all times to prevent stockouts, rather than planning to run inventory to zero before restocks arrive. This additional stock is called safety stock.
Chapter 7: Linear Programming Models
Linear Programming is a widely used mathematical modeling technique. It is designed to help managers in planning and decision-making. Linear programming is a technique that helps in resource allocation decisions. “Programming” refers to modeling and solving a problem mathematically.
Linear programming requires that the objective and constraints be expressed in terms of linear equations or inequalities.