Problem
The decision variables are defined as follows: Wt: workforce size for montht,t=1,...,12Pt: number of units produced in montht,t=1,...,12It: inventory at end of the montht,t=1,...,12Ct: number of units subcontracted in montht,t=1,...,121. Assuming no new hires, no layoffs, and no overtime by the policy. No stock the month ending inventory cannot exceed 25% of the demand in that month. Formulate the total cost that the company is trying to minimize. Substitute data where applicable. What are the constraints?