Name
Title | ||
|---|---|---|
Optimal production-inventory policy for the multi-period fixed proportions co-production system. |
Abstract | ||
|---|---|---|
•Study the dynamic inventory problem in a fixed-proportion co-production system.•Show the concavity and submodularity of the expected profit function and characterize the optimal policy.•Study the optimal purchase and rationing policy for the case with seasonal raw material.•Examine the impacts of supply-demand balance and price fluctuations on the optimal policy by numerical studies. |
Year | DOI | Venue |
|---|---|---|
2020 | 10.1016/j.ejor.2019.07.025 | European Journal of Operational Research |
Keywords | Field | DocType |
Production-inventory management,Co-production system,Markov decision problem,Dynamic programming | Production inventory,Mathematical optimization,Raw material,Operations research,Mathematics | Journal |
Volume | Issue | ISSN |
280 | 2 | 0377-2217 |
Citations | PageRank | References |
0 | 0.34 | 0 |
Authors | ||
4 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Hengyu Liu | 1 | 0 | 1.01 |
| Ju-Liang Zhang | 2 | 100 | 11.84 |
| T.C.E. Cheng | 3 | 628 | 50.67 |
| Yi-Hong Ru | 4 | 7 | 4.89 |