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

Marie Chazal (), Elyès Jouini () and Rabah Tahraoui

GE, Growth, Math methods from University Library of Munich, Germany

Abstract: 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.

Keywords: Production planning; inventory management; integro- differential backward equations (search for similar items in EconPapers)
JEL-codes: C6 D5 D9 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2003-12-08
New Economics Papers: this item is included in nep-mic
Note: Type of Document - pdf; prepared on Win98; pages: 36
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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 (2007)
Working Paper: Production Planning and Inventories Optimization: A Backward Approach in the Convex Storage Cost Case (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpge:0312002

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