Alocalfarmproducescasesof perishablefoodproducts.The productssuchasvegetablesandfruits arepackedinwoodencases.Each casecosts$10andsellsfor$20.If thereareanycasesnotsoldbythe endoftheday,theyaresoldtoalarge foodprocessingcompanyfor$5 a case.Theprobabilitythatdaily demandwillbe100 casesis0.3,the probabilitythatdailydemandwillbe 200casesis0.4,andtheprobability thatdailydemandwillbe300casesis 0.3.Thefarm hasapolicyofalways satisfyingcustomerdemands.Ifits ownsupplyofcasesislessthanthe demand,itbuysthenecessary vegetablefromacompetitor.The estimatedcostofdoingthisis$35 per case. a) Drawadecisiontableforthis problem. Whatdoyourecommend? b) Nowassumethatbackloggingis possibleandifademand doesnotget satisfied,canbefulfilledinthe followingdaywith20percent discount.Redothedecisiontreeand recommendations.
This question was answered on: Sep 21, 2023
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