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