Erratum to: "Economic order quantity models for ameliorating/deteriorating items under inflation and time discounting"

In a recent article published in European Journal of Operational Research, 162 (2005) 773–785, Moon et al. [1] develop economic order quantity models (A, A1, and B) for deteriorating/ameliorating items which have time-varying demand pattern over a finite planning horizon, taking account of inflation and time value of money. Although the formulation of the total cost function in all the models is correct but due to an unexpected error in the derived necessary condition for optimality in Model A, the criteria for the existence and uniqueness of the optimal solution stated in Propositions 1–3 are wrong. The authors are thankful to Professor Dye [2] who first points out the error and brings to the notice of the authors. The purpose of this note is to correct the errors and its deliberations in the analysis of Model A. In Model A, the correct expression for G(n, K) [Eq. (6)] would be