(Solved): Currently, ACME Corp. produces ladders for theme parks. Six flags (world's best theme parks) have d ...

Currently, ACME Corp. produces ladders for theme parks. Six flags (world's best theme parks) have decided to give some forecasts to ACME about the need for ladders. The demand of the ladders for the next 12 months are as follows: 6 , $12,4,8,15,25,20,5,10,20,5,12$. ACME has 4 ladders in their inventory and for future purposes, the company wants to have 8 ladders on their inventory after 12 months. As their factory is located at an urban area, the holding cost per item is calculated as $\$1$. The setup cost for the ladder is $\$40$ per production. With the information above, a) Construct the mathematical model of the problem in order to minimize total cost. b) Solve the problem using the Wagner-Whitin algorithm in MS Excel. c) Assuming a maximum order size of 20 per month, modify the mathematical model that you developed in Part (a) and update the solution that is obtained in Part (b).