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A generalized single product and single-period inventory problem with non-linear parameters

Author

Listed:
  • Kai Luo

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

  • Laoucine Kerbache

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

  • Mozart B. C. Menezes

    (MIT-Zaragoza International Logistics Program - Zaragoza Logistics Center)

  • Christian van Delft

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

Abstract

In this paper, we extend the study of the classical single-period newsboy inventory problem by considering costs that are non-linear functions of the decision variable. We assume that the demand probability density function is known to the decision maker. We prove that, under some much more relaxed conditions, the total expected profit function remains concave and classical optimization methods can thus be used to obtain the global optimal solution. After that, we provide numerical examples for illustrative purpose.

Suggested Citation

  • Kai Luo & Laoucine Kerbache & Mozart B. C. Menezes & Christian van Delft, 2012. "A generalized single product and single-period inventory problem with non-linear parameters," Post-Print hal-00693188, HAL.
    • Handle: RePEc:hal:journl:hal-00693188
    DOI: 10.1111/j.1475-3995.2011.00829.x
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    Cited by:

    1. Janssen, Larissa & Claus, Thorsten & Sauer, Jürgen, 2016. "Literature review of deteriorating inventory models by key topics from 2012 to 2015," International Journal of Production Economics, Elsevier, vol. 182(C), pages 86-112.

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