Journal of the Korean Operations Research and Management Science Society (한국경영과학회지)

The Korean Operations Research and Management Science Society (한국경영과학회)
권호 표지

Economic production quantity with expontial deterioration

  • Hwang, Hark (Dept. of Industrial Science, The Korea Advanced Institute of Science) ;
  • Kim, Kap-Hwan (Korea Institute of Science and Technology)
  • Published : 1979.04.01
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Abstract

Production lot sizing problem for a system with exponentially decaying inventory is considered. From the exact cost function developed under conditions of constant demand and no shortages permitted, an approximate optimal solution is derived. The formula is compared with those of the exact solution obtained from numerical procedure and other existing approximate solution. Finally some notable properties of the formula are investigated and shown to be consistent.

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