Recall the production and inventory control problem of Section 18.4. Mills Manufacturing Company has just such a production and inventory control problem for an armature the company manufactures as a component for a generator. The available data for the next 3-month planning period are as follow:
Use dynamic programming to find the optimal production quantities and inventory levels in each period for the Mills Manufacturing Company. Assume an inventory of 10 units on hand at the beginning of month 1 and production runs are completed in multiples of 10 units (i.e., 10, 20, or 30 units).