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Inventory control of a multiproduct system with a limited production resource

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  • Richard V. Evans

Abstract

Optimal control of the production of several products subject to restricted production resources is considered. Linear production, holding and penalty costs are assumed although this is crucial only for production costs. Excess demand results in lost sales. A single point plays an important role in the definition of the optimal policy.

Suggested Citation

  • Richard V. Evans, 1967. "Inventory control of a multiproduct system with a limited production resource," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 14(2), pages 173-184.
    • Handle: RePEc:wly:navlog:v:14:y:1967:i:2:p:173-184
    DOI: 10.1002/nav.3800140205
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    Cited by:

    1. Kaijie Zhu & Ulrich W. Thonemann, 2009. "Coordination of pricing and inventory control across products," Naval Research Logistics (NRL), John Wiley & Sons, vol. 56(2), pages 175-190, March.
    2. Larry J. Leblanc, 1987. "Optimization methods for large‐scale multiechelon stockage problems," Naval Research Logistics (NRL), John Wiley & Sons, vol. 34(2), pages 239-249, April.
    3. Sarang Deo & Sameer Mehta & Charles J. Corbett, 2022. "Optimal Scale‐Up of HIV Treatment Programs in Resource‐Limited Settings Under Supply Uncertainty," Production and Operations Management, Production and Operations Management Society, vol. 31(3), pages 883-905, March.
    4. Bintong Chen & Charles L. Munson, 2004. "Resource allocation with lumpy demand: To speed or not to speed?," Naval Research Logistics (NRL), John Wiley & Sons, vol. 51(3), pages 363-385, April.
    5. Bo Li & Antonio Arreola‐Risa, 2022. "Minimizing conditional value‐at‐risk under a modified basestock policy," Production and Operations Management, Production and Operations Management Society, vol. 31(4), pages 1822-1838, April.
    6. Shrutivandana Sharma & Hossein Abouee‐Mehrizi & Giorgio Sartor, 2020. "Inventory Management under Storage and Order Restrictions," Production and Operations Management, Production and Operations Management Society, vol. 29(1), pages 101-117, January.
    7. Ganesh Janakiraman & Mahesh Nagarajan & Senthil Veeraraghavan, 2018. "Simple Policies for Managing Flexible Capacity," Manufacturing & Service Operations Management, INFORMS, vol. 20(2), pages 333-346, May.
    8. F. Kleintje-Ell & G. Kiesmüller, 2015. "Cost minimising order schedules for a capacitated inventory system," Annals of Operations Research, Springer, vol. 229(1), pages 501-520, June.
    9. Xiaoying Liang & Houmin Yan, 2014. "Inventory control and replenishment with flexible delivery‐time upgrade," Naval Research Logistics (NRL), John Wiley & Sons, vol. 61(5), pages 418-426, August.
    10. Shaolong Tang & Stella Cho & Jacqueline Wenjie Wang & Hong Yan, 2018. "The newsvendor model revisited: the impacts of high unit holding costs on the accuracy of the classic model," Frontiers of Business Research in China, Springer, vol. 12(1), pages 1-14, December.

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