Template-Type: ReDIF-Paper 1.0
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
Author-Name: Bayindir, Z.P.
Author-Name-Last: Bayindir
Author-Name-First: Pelin
Title: A Deterministic Inventory/Production Model with General Inventory Cost Rate Function and Concave Production Costs
Abstract: We present a thorough analysis of the economic order quantity model with shortages under a general inventory cost rate function and concave production costs. By using some standard results from convex analysis, we show that the model exhibits a composite concave-convex structure. 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.
Creation-Date: 2004-08-30
File-URL: https://repub.eur.nl/pub/1536/ERS%202004%20064%20LIS.pdf
File-Format: application/pdf
Series: RePEc:ems:eureri
Number: ERS-2004-064-LIS
Number: ERS-2004-064-LIS
Classification-JEL: C6, M, M11, R4
Keywords: Inventory, concave production cost, concave-convex programming, general inventory cost function
Handle: RePEc:ems:eureri:1536