Optimal policies for a finite-horizon production inventory model (Q447572): Difference between revisions
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Summary: We are concerned with the problem of finding the optimal production schedule for an inventory model with time-varying demand and deteriorating items over a finite planning horizon. This problem is formulated as a mixed-integer nonlinear program with one integer variable. The optimal schedule is shown to exist uniquely under some technical conditions. It is also shown that the objective function of the nonlinear obtained from fixing the integrality constraint is convex as a function of the integer variable. This in turn leads to a simple procedure for finding the optimal production plan. | |||
| Property / review text: Summary: We are concerned with the problem of finding the optimal production schedule for an inventory model with time-varying demand and deteriorating items over a finite planning horizon. This problem is formulated as a mixed-integer nonlinear program with one integer variable. The optimal schedule is shown to exist uniquely under some technical conditions. It is also shown that the objective function of the nonlinear obtained from fixing the integrality constraint is convex as a function of the integer variable. This in turn leads to a simple procedure for finding the optimal production plan. / rank | |||
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| Property / Mathematics Subject Classification ID | |||
| Property / Mathematics Subject Classification ID: 90B05 / rank | |||
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| Property / zbMATH DE Number: 6076661 / rank | |||
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Revision as of 10:26, 30 June 2023
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Optimal policies for a finite-horizon production inventory model |
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Optimal policies for a finite-horizon production inventory model (English)
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4 September 2012
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Summary: We are concerned with the problem of finding the optimal production schedule for an inventory model with time-varying demand and deteriorating items over a finite planning horizon. This problem is formulated as a mixed-integer nonlinear program with one integer variable. The optimal schedule is shown to exist uniquely under some technical conditions. It is also shown that the objective function of the nonlinear obtained from fixing the integrality constraint is convex as a function of the integer variable. This in turn leads to a simple procedure for finding the optimal production plan.
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