Template-Type: ReDIF-Paper 1.0
Author-Name: Bayindir, Z.P.
Author-Name-Last: Bayindir
Author-Name-First: Pelin
Author-Name: Birbil, S.I.
Author-Name-Last: Birbil
Author-Name-First: Ilker
Author-Name: Frenk, J.B.G.
Author-Name-Last: Frenk
Author-Name-First: Hans
Title: A Multi-Item Inventory Model With Joint Setup And Concave Production Costs
Abstract: The present paper discusses an approach to solve the joint replenishment problem in a production environment with concave production cost functions. Under this environment, the model leads to a global optimization problem, which is investigated by using some standard results from convex analysis. Consequently, an effective solution procedure is proposed. The proposed procedure is guaranteed to return a solution with a predetermined quality in terms of the objective function value. A computational study is provided to illustrate the performance of the proposed solution procedure with respect to the running time.
Creation-Date: 2004-08-30
File-URL: https://repub.eur.nl/pub/1535/ERS%202004%20044%20LIS.pdf
File-Format: application/pdf
Series: RePEc:ems:eureri
Number: ERS-2004-044-LIS
Number: ERS-2004-044-LIS
Classification-JEL: C61, M, M11, R4
Keywords: Lipschitz optimization, concave production cost, concave-convex programming, inventory, joint setup, multi-item
Handle: RePEc:ems:eureri:1535