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

Elyès Jouini (), Marie Chazal () and Rabah Tahraoui
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Rabah Tahraoui: CEREMADE - CEntre de REcherches en MAthématiques de la DEcision - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique

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Abstract: As in [3], 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.

Keywords: integro-dfferential backward equations; Production planning; inventory management; integro-dfferential backward equations. (search for similar items in EconPapers)
Date: 2007-10-01
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Related works:
Journal Article: Production planning and inventories optimization: A backward approach in the convex storage cost case (2008)
Working Paper: Production Planning and Inventories Optimization: A Backward Approach in the Convex Storage Cost Case (2003)
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