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Production Planning and Inventories Optimization : A Backward Approach in the Convex Storage Cost Case

  • Marie Chazal
  • Elyès Jouini
  • Rabah Tahraoui

As in [1], 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-differential backward equation, from which we obtain an explicit construction of the optimal plan.

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File URL: http://128.118.178.162/eps/ge/papers/0312/0312002.pdf
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Paper provided by EconWPA in its series GE, Growth, Math methods with number 0312002.

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Length: 36 pages
Date of creation: 08 Dec 2003
Date of revision:
Handle: RePEc:wpa:wuwpge:0312002
Note: Type of Document - pdf; prepared on Win98; pages: 36
Contact details of provider: Web page: http://128.118.178.162

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  1. 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.
  2. 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.
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