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An integrated inventory model for a single product and its raw materials. (English) Zbl 0612.90026
A heuristic procedure is developed to determine the optimum inventory policies for an inventory system consisting of a single product and raw materials used in the manufacture of the product. The raw materials are optimally classified into groups so that the total inventory cost per unit time is minimized. The cost expression used as the objective function takes the inventory relationship between the product and its raw materials into consideration.

MSC:
90B05 Inventory, storage, reservoirs
90B30 Production models
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References:
[1] CHAKRAVARTY A. K., Journal of the Operations Research Society 32 pp 19– (1981)
[2] DOI: 10.1287/mnsc.30.9.1105 · Zbl 0549.90035 · doi:10.1287/mnsc.30.9.1105
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[5] DOI: 10.1287/mnsc.14.11.713 · doi:10.1287/mnsc.14.11.713
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