Summary
For production-inventory models with proportional production costs it is known that the best linear decision rule is a satisfactory approximation of the optimal AHM-policy. It is shown that this result still remains valid for models with production set up costs if the optimal linear policy is evaluated in conjunction with an optimal decision cycle.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Literatur
ARROW, K.J., T. HARRIS and T. MARSHAK: “Optimal Inventory Policy”, Econometrica, Vol. 19, (1951), pp. 250–272
EPPEN, G.D. and E.F. FAMA: “Solutions for Cash Balance and Simple Dynamic Portfolio Problems”, Journal of Business, Vol. 41, (1968), pp. 94–112
INDERFURTH, K: “Zur Güte von Produktionsglättungsmodellen mit linearen Entscheidungsregeln”, Proceedings in Operations Research, Würzburg 1974
NEAVE, E.H.: “The Stochastic Cash Balance Problem with Fixed Costs for Increases and Decreases”, Management Science, Vol. 16, (1970), pp. 472–490
SCHNEEWEISS, Ch.: “Optimal Production Smoothing and Safety Inventory”, Management Science, Vol. 20, (1974), pp. 1120–1130
SCHNEEWEISS, Ch.: “Dynamic Certainty Equivalents in Production Smoothing Theory”, International Journal of System Sciences, Vol. 6, (1975), pp. 353–365
THEIL, H.: “A Note on Certainty Equivalents in Dynamic Planning”, Econometrica, Vol. 25, (1957), pp. 346–349
Author information
Authors and Affiliations
Editor information
Rights and permissions
Copyright information
© 1976 Physica-Verlag, Rudolf Liebing KG, Würzburg
About this paper
Cite this paper
Inderfurth, K. (1976). Lineare Entscheidungsregeln in Produktionslagerhaltungsmethoden mit Fixkosten. In: Kohlas, J., Seifert, O., Stähly, P., Zimmermann, HJ. (eds) Proceedings in Operations Research 5. Vorträge der Jahrestagung 1975 DGOR / SVOR, vol 1975. Physica-Verlag HD. https://doi.org/10.1007/978-3-642-99748-8_63
Download citation
DOI: https://doi.org/10.1007/978-3-642-99748-8_63
Publisher Name: Physica-Verlag HD
Print ISBN: 978-3-7908-0165-1
Online ISBN: 978-3-642-99748-8
eBook Packages: Springer Book Archive