Production planning and inventories optimization with a general storage cost function
Tharaoui, Rabah; Chazal, Marie; Jouini, Elyès (2003), Production planning and inventories optimization with a general storage cost function, Nonlinear Analysis: Theory, Methods & Applications, 54, 8, p. 1365– 1395. http://dx.doi.org/10.1016/S0362-546X(03)00191-3
Type
Article accepté pour publication ou publiéDate
2003Journal name
Nonlinear Analysis: Theory, Methods & ApplicationsVolume
54Number
8Publisher
Elsevier
Pages
1365– 1395
Publication identifier
Metadata
Show full item recordAbstract (EN)
We study the deterministic optimization problem of a profit-maximizing firm which plans its sales/production schedule. The Firm knows the revenue associated to a given level of sales, as well as its production and storage costs. The revenue and the production cost are assumed to be, respectively, concave and convex whereas the cost of storage has no particular properties of convexity. First, in spite of this non-convexity, we give an existence result. Second, from the necessary conditions, we derive some precise qualitative description of the optimal plan. In particular, we obtain that inventory accumulation is not optimal.Subjects / Keywords
Production Planning; Inventory Management; Storage Costs; Non-Convex Optimization; Calculus of VariationsRelated items
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