A deterministic inventory/production model with general inventory cost rate function and piecewise linear concave production costs

We present a thorough analysis of the economic production quantity model with shortages under a general inventory cost rate function and piecewise linear concave production costs. Consequently, an effective solution procedure, particularly useful for an approximation scheme, is proposed. A computati...

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Bibliographic Details
Published in:European journal of operational research 2007-05, Vol.179 (1), p.114-123
Main Authors: Bayındır, Z.P., Birbil, Ş.İ., Frenk, J.B.G.
Format: Article
Language:English
Subjects:
Applied sciences
Exact sciences and technology
General inventory cost rate function
Inventory
Inventory control, production control. Distribution
Inventory management
Operational research and scientific management
Operational research. Management science
Operations research
Piecewise linear concave production cost
Production costs
Studies
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Summary:We present a thorough analysis of the economic production quantity model with shortages under a general inventory cost rate function and piecewise linear concave production costs. Consequently, an effective solution procedure, particularly useful for an approximation scheme, is proposed. A computational study is appended to illustrate the performance of the proposed solution procedure.
ISSN:0377-2217
1872-6860
DOI:10.1016/j.ejor.2006.03.026