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Optimal lot size determination of multistage production system

Jindřich L. Klapka (1978)

Aplikace matematiky

This paper deals with the optimization of total setup plus inventory cost of a certain class of the multistage inventory-production systems with the series arranged production stages having generally different production rates, separated by stores from each other. The optimization is made by the choice of lot sizes across an infinite time horizon. The exact cost-optimization algorithm based on the Bellman optimality principle is derived and applied for deriving two lower bounds of the optimal cost...

Production-inventory system with finite production rate, stock-dependent demand, and variable holding cost

Hesham K. Alfares (2014)

RAIRO - Operations Research - Recherche Opérationnelle

In general, traditional production-inventory systems are based on a number of simplifying – but somewhat unrealistic – assumptions, including constant demand rate, constant holding cost, and instantaneous order replenishment. These assumptions have been individually challenged in numerous variations of production-inventory models. Finite production rate models, such as economic production quantity (EPQ) systems consider gradual order replenishment. Stock-dependent demand models assume the demand...

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