Novel Solution Method for Inventory Models with Stochastic Demand and Defective Units
Joint Authors
Chao, Henry C. J.
Chu, Chun-Hsiao
Luo, Xu-Ren
Source
Mathematical Problems in Engineering
Issue
Vol. 2020, Issue 2020 (31 Dec. 2020), pp.1-13, 13 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2020-10-10
Country of Publication
Egypt
No. of Pages
13
Main Subjects
Abstract EN
This paper is a response to two papers.
We improve the lengthy proof for the first paper by an elegant verification.
For the second paper, we point out the three-sequence approach will result in different convergent rates such that when the other two sequences are converged, the ordering quantity sequence may still not converge to the optimal solution.
We construct a novel iterative method to simplify the previous approach proposed by the three-sequence approach for the optimal solution.
By the same numerical examples of three published papers, we demonstrate that we can control our findings to converge more accurately than previous results.
Moreover, we show that there are three distinct features of our proposed approach.
(i) It converges to the desired solution within the preassigned threshold value.
(ii) We estimate the convergent ratio.
(iii) We find the dominant factors for our proposed convergent sequence.
American Psychological Association (APA)
Luo, Xu-Ren& Chu, Chun-Hsiao& Chao, Henry C. J.. 2020. Novel Solution Method for Inventory Models with Stochastic Demand and Defective Units. Mathematical Problems in Engineering،Vol. 2020, no. 2020, pp.1-13.
https://search.emarefa.net/detail/BIM-1194483
Modern Language Association (MLA)
Luo, Xu-Ren…[et al.]. Novel Solution Method for Inventory Models with Stochastic Demand and Defective Units. Mathematical Problems in Engineering No. 2020 (2020), pp.1-13.
https://search.emarefa.net/detail/BIM-1194483
American Medical Association (AMA)
Luo, Xu-Ren& Chu, Chun-Hsiao& Chao, Henry C. J.. Novel Solution Method for Inventory Models with Stochastic Demand and Defective Units. Mathematical Problems in Engineering. 2020. Vol. 2020, no. 2020, pp.1-13.
https://search.emarefa.net/detail/BIM-1194483
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1194483