Newton method for determining the optimal replenishment policy for EPQ model with present value
نویسندگان
چکیده
منابع مشابه
Optimal retailer’s replenishment policy for the EPQ model under supplier’s trade credit policy
This paper investigates the optimal replenishment policy under conditions of permissible delay in payments within the economic production quantity (EPQ) framework. In 1985, Goyal assumed that: (1) The unit selling price and the unit purchasing price are equal. (2) The replenishment rate is infinite. (3) At the end of the credit period, the account is settled. The retailer starts paying for high...
متن کاملComment on 'Optimal inventory replenishment policy for the EPQ model under trade credit derived without derivatives'
Comment on 'Optimal inventory replenishment policy for the EPQ model under trade credit derived without derivatives' Jinn-Tsair Teng a; S. K. Goyal b a Department of Marketing and Management Sciences, The William Paterson University of New Jersey, Wayne, New Jersey 07470-2103, USA b Department of Decision Sciences & MIS, John Molson School of Business, Concordia University, Montreal, Quebec, Ca...
متن کاملOptimal inventory replenishment policy for the EPQ model under trade credit derived without derivatives
Within the economic production quantity (EPQ) framework, the main purpose of this paper is to deal with Chung and Huang’s model (2003) and extend Chung and Huang’s model (2003) by considering the unit selling price higher than the unit purchasing cost using the algebraic method to determine the optimal inventory replenishment policy for the retailer under trade credit. This paper provides this ...
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The traditional inventory of the economic order quantity model assumes perfect items in an ordered lot and an infinite replenishment rate. However, such conditions are rare in actual production environments. Additionally, most studies of this problem have only considered suppliers offering the wholesaler a grace period. In practice, wholesalers often extend a fixed credit period to downstream c...
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EPQ model; Replenishment lot size; Multiple deliveries; Random defective items; Production; Rework; Scrap items. Abstract This paper derives the optimal replenishment lot size and shipment policy for an Economic Production Quantity (EPQ) model with multiple deliveries and rework of random defective items. The classic EPQmodel assumes a continuous inventory issuing policy for satisfying demand a...
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ژورنال
عنوان ژورنال: YUJOR
سال: 2008
ISSN: 0354-0243,1820-743X
DOI: 10.2298/yjor0801053w