Comments on ‘vendor-managed inventory with consignment stock agreement for single vendor--single buyer under the emission-trading scheme’

Chuanxu Wang and Rongbing Huang

International Journal of Production Research, 2016, vol. 54, issue 13, 4081-4086

Abstract: Zanoni, Mazzoldi, and Jaber [Zanoni, S., L. Mazzoldi, and M. Y., Jaber. 2014. Vendor-managed inventory with consignment stock agreement for single vendor--single buyer under the emission-trading scheme. International Journal of Production Research 52 (1): 20--31] consider a joint economic lot size problem under the vendor-managed inventory with consignment stock agreement and an emission-trading scheme. They show that the total cost of the system is a jointly convex function by simply showing that every element of the Hessian is positive. Noticing this mistake, we analyse the same problem in this technical note. We first provide a closed-form solution when the production rate is given. In order to avoid a complete search over all possible production rates, we then develop an efficient continuous approximation algorithm. Computational experiment shows that the approximation algorithm is effective and efficient.

Date: 2016
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DOI: 10.1080/00207543.2015.1106610

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