Production Planning and Inventories Optimization: A Backward Approach in the Convex Storage Cost Case
AbstractAs in , 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. Here, we also assume that the storage cost is convex. This allows us to relate the optimal planning problem to the study of an integro-di_erential backward equation, from which we obtainan explicit construction of the optimal plan.
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Date of creation: 16 Aug 2007
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Production planning; inventory management; integro-dfferential backwardequations.;
Other versions of this item:
- Chazal, Marie & Jouini, Elyès & Tahraoui, Rabah, 2008. "Production planning and inventories optimization: A backward approach in the convex storage cost case," Journal of Mathematical Economics, Elsevier, vol. 44(9-10), pages 997-1023, September.
- Marie Chazal & Elyès Jouini & Rabah Tahraoui, 2003. "Production Planning and Inventories Optimization : A Backward Approach in the Convex Storage Cost Case," GE, Growth, Math methods 0312002, EconWPA.
- Marie Chazal & Elyès Jouini & Rabah Tahraoui, 2003. "Production Planning and Inventories Optimization : A Backward Approach in the Convex Storage Cost Case," Working Papers 2003-45, Centre de Recherche en Economie et Statistique.
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- D9 - Microeconomics - - Intertemporal Choice
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- Feichtinger, Gustav & Hartl, Richard, 1985. "Optimal pricing and production in an inventory model," European Journal of Operational Research, Elsevier, vol. 19(1), pages 45-56, January.
- Tharaoui, Rabah & Chazal, Marie & Jouini, Elyès, 2003. "Production planning and inventories optimization with a general storage cost function," Economics Papers from University Paris Dauphine 123456789/360, Paris Dauphine University.
- Du, Juan & Liang, Liang & Chen, Yao & Bi, Gong-bing, 2010. "DEA-based production planning," Omega, Elsevier, vol. 38(1-2), pages 105-112, February.
- Amirteimoori, Alireza & Kordrostami, Sohrab, 2012. "Production planning in data envelopment analysis," International Journal of Production Economics, Elsevier, vol. 140(1), pages 212-218.
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