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The optimal production cycle time in an integrated production-inventory model for decaying raw materials
Authors:Kun-Jen Chung  Kuo-Lung Hou  Shaw-Ping Lan
Affiliation:1. College of Business, Chung Yuan Christian University, Chung Li, Taiwan, ROC;2. Graduate School of Management, The Overseas Chinese Institute of Technology, Taichung, Taiwan, ROC;3. Department of Business Administration, National Defence Management College, Taipei, Taiwan, ROC
Abstract:In 1983, Park presented an integrated production-inventory model for decaying raw materials. This paper discusses the same model as that of Park. The main purpose is threefold:
(1)
This paper shows that the total cost function per unit time is convex by a rigorous proof.
Keywords:Production-inventory models   Decay   Convex
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