Solving a Production and Inventory Model with a Minimum Lot Size Constrain

The paper deals with the analysis of a special dynamic production and inventory model. In this model logical restrictions to fulfill an accepted constant minimal level of the production lot size are incorporated, instead of keeping setup cost in the objective function, as it is common in many other models. Detailed optimality conditions are derived, which make possible the application of a simple dynamic programming recursion procedure.

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Year of publication:	2007
Authors:	Richter, Knut ; Okhrin, Irena
Institutions:	Wirtschaftswissenschaftliche Fakultät, Europa-Universität Viadrina Frankfurt (Oder)
Subject:	dynamic production-inventory model \| minimum lot size \| dynamic programming

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Extent:	application/pdf
Series:	Discussion Papers. - ISSN 1860-0921.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 261
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008683730