A note on multi-item inventory systems with limited capacity

Authors:
Jose A Ventura;Cerry M Klein
Affiliations:
Department of Industrial Engineering, 113 Electrical Engineering Building, University of Missouri-Columbia, Columbia, MO 65211, USA;Department of Industrial Engineering, 113 Electrical Engineering Building, University of Missouri-Columbia, Columbia, MO 65211, USA
Venue:
Operations Research Letters
Year:
1988

Citing 1
Cited 3

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Production and inventory management under multiple resource constraints

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Integrated production-inventory models with imperfect production processes and a limited capacity for raw materials

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Exact solution of a class of nonlinear knapsack problems

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Abstract

Functional relationships between the Lagrange multiplier and system parameters for multi-item inventory systems with one restriction are identified and used to establish tight bounds on the optimal multiplier value. A recursive process which rapidly converges to the optimal multiplier is also discussed. Finally, a comparative analysis of the new bounds in relation to existing bounds is presented.