期刊
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
卷 118, 期 1, 页码 118-130出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ijpe.2008.08.031
关键词
Stochastic production and inventory planning; Capacity constraints; Salvage opportunities; Dynamic programming
We study a single product two-period production/inventory model, in which the demands at each period are independent random variables. To optimally satisfy these random demands, quantities can be produced at the beginning of each period using slow or fast production mode, under capacity constraints. In addition to the usual decision variables for such models, we consider that a certain quantity can be salvaged at the beginning of each period. Such salvage processes are useful if the initial inventory of a period is considered to be too high. The unsatisfied demands for each period are backlogged to be satisfied during the next periods. After the end of the second period, a last quantity is produced in order to satisfy remaining orders and to avoid lost sales. The remaining inventory, if any, is salvaged. We formulate this model using a dynamic programming approach. We prove the concavity of the global objective function and we establish the closed-form expression of the second period optimal policy. Then, via a numerical solution approach, we solve the first period problem and exhibit the structure of the corresponding optimal policy. We provide insights, via numerical examples, that characterize the basic properties of our model and the effect of some significant parameters such as costs, demand variabilities or capacity constraints. (C) 2008 Elsevier B.V. All rights reserved.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据