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On the global optimal solution to an integrated inventory system with general time varying demand, production and deterioration rates. (English) Zbl 0945.90003
Summary: In this paper a unified inventory model for integrated production system with a single product is presented. The production, demand and deterioration rates for the finished product and the deterioration rates for raw materials are assumed to be functions of time. A rigorous mathematical proof which shows the global optimality of the solution to the considered inventory system is introduced. A numerical example that illustrates the solution procedure is included.

MSC:
90B05 Inventory, storage, reservoirs
90C26 Nonconvex programming, global optimization
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