Optimal Production Smoothing and Safety Inventory

Christoph A. Schneeweiss
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Christoph A. Schneeweiss: Freie Universitat Berlin, Germany

Management Science, 1974, vol. 20, issue 7, 1122-1130

Abstract: A new approach is suggested to solve a production smoothing problem. The problem is divided essentially into two subproblems. First the derivation of the optimal smoothing policy is given for a model having a quadratic cost structure. The second step then takes into account the special features of the actually given nonquadratic cost functions. In the framework of a special model the applicability of this approach is discussed.

Date: 1974
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:20:y:1974:i:7:p:1122-1130

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