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A deterministic inventory/production model with general inventory cost rate function and piecewise linear concave production costs

2007-05-16
Bayındır, Zeynep Pelin
Birbil, S. I.
Frenk, J. B. G.
We present a thorough analysis of the economic production quantity model with shortages under a general inventory cost rate function and piecewise linear concave production costs. Consequently, an effective solution procedure, particularly useful for an approximation scheme, is proposed. A computational study is appended to illustrate the performance of the proposed solution procedure.