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On the global optimal solution to an integrated inventory system with general time varying demand, production and deterioration rates

✍ Scribed by Zaid T. Balkhi

Publisher: Elsevier Science
Year: 1999
Tongue: English
Weight: 138 KB
Volume: 114
Category: Article
ISSN: 0377-2217
DOI: 10.1016/s0377-2217(98)00155-6

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✦ Synopsis

In this paper a uni®ed inventory model for integrated production system with a single product is presented. The production, demand and deterioration rates for the ®nished product and the deterioration rates for raw materials are assumed to be functions of time. A rigorous mathematical proof which shows the global optimality of the solution to the considered inventory system is introduced. A numerical example that illustrates the solution procedure is included.

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