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The optimality representation of a finite-life inventory model with exiguous defectives with Hessian matrix approach.
- Source :
-
Nonlinear Studies . 2023, Vol. 30 Issue 2, p393-398. 6p. - Publication Year :
- 2023
-
Abstract
- Businesses use inventory modelling to estimate the ideal level of inventories to be kept in a production process. This procedure entails controlling the quantity of goods or raw materials to be stoi-ed. the frequency of orders, and the supply flow. The primary task would be to reduce the overall cost incurred during the production process. This study examines a finite-life inventory model that permits a very small number of de fective products. illustrates the optimal order quantity. and explores how to optimal the second-degree total cost function while validating its optimality with a Hessian matrix. In addition. a numerical analysis is performed, and the findings are described. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 13598678
- Volume :
- 30
- Issue :
- 2
- Database :
- Academic Search Index
- Journal :
- Nonlinear Studies
- Publication Type :
- Academic Journal
- Accession number :
- 164272708