Birbil, S.I. Frenk, J.B.G. Bayindir, Z.P. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University)
Abstract
We present a thorough analysis of the economic order quantity model with shortages under a general inventory cost rate function and concave production costs. By using some standard results from convex analysis, we show that the model exhibits a composite concave-convex structure. Consequently, an effective solution procedure, particularly useful for an approximation scheme, is proposed. A computational study is appended to illustrate the performance of the proposed solution procedure.
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Paper provided by Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam. in its series Research Paper with number
ERS-2004-064-LIS Revision_Date: 2009-07-29.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Bayindir, Z.P. & Birbil, S.I. & Frenk, J.B.G., 2004.
"A Multi-Item Inventory Model With Joint Setup And Concave Production Costs,"
Research Paper
ERS-2004-044-LIS Revision, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
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