Research Reports from the Department of Operations
Document Type
Report
Publication Date
5-1-1981
Abstract
The equipment replacement problem and the inventory problem are two popular problems in the Operations Research literature. The combination of these two problems in one model was recently investigated by the author in [16] where sufficient conditions were provided for optimal monotonic policies with a relatively simple structure. This paper is based on, and also an extension of, that work. The sufficient conditions presented here are weaker and are more general. The resultant policy structure can be exploited to make the dynamic programming recursion computationally more efficient.
Keywords
Operations research, Replacement of industrial equipment, Inventory management, Mathematical models, Dynamic programming
Publication Title
Technical Memorandums from the Department of Operations, School of Management, Case Western Reserve University
Issue
Technical memorandum no. 472
Rights
This work is in the public domain and may be freely downloaded for personal or academic use
Recommended Citation
Venkatesan, M., "Production - Inventory with Equipment Replacement - Pier" (1981). Research Reports from the Department of Operations. 443.
https://commons.case.edu/wsom-ops-reports/443