Optimal Production and Inventory Policy in a Multiproduct Bakery Unit

Optimal Inventory Policy

Optimal Production-Inventory Policy under Energy Buy-Back Program

This paper proposes a production-inventory model with setup cost for production and financial compensation for stopping production when the buy-back program is activated, which is a modified model to that of [Chen et al 2007] by including the setup cost. Under an energy buyback program, we consider M+1 types of market scenarios and the corresponding buy-back levels with different financial comp...

Optimal Control Policy of a Production and Inventory System for Deteriorating Items in Segmented Market

Market segmentation is an essential element of marketing in industrialized countries. Goods can no longer be produced and sold without considering customer needs and recognized the heterogeneity of these needs. In this paper, we use market segmentation approach in single product inventory system with deteriorating items. The objective is to make use of optimal control theory to solve the produc...

Optimal Control Policy of a Production and Inventory System for multi-product in Segmented Market

In this paper, we use market segmentation approach in multiproduct inventory production system with deteriorating items. The objective is to make use of optimal control theory to solve the production inventory problem and develop an optimal production policy that maximize the total profit associated with inventory and production rate in segmented market. First, we consider a single production a...

The (Q, r) Inventory Policy in Production- Inventory Systems

We examine the effectiveness of the conventional (Q, r) model in managing production-inventory systems with finite capacity, stochastic demand, and stochastic order processing times. We show that, for systems with finite production capacity, order replenishment lead times are highly sensitive to loading and order quantity. Consequently, the choice of optimal order quantity and optimal reorder p...