Note on “An Optimal Recursive Method for Various Inventory Replenishment Models with Increasing Demand and Shortages” by Teng et al

S. K. Goyal and B. C. Giri

Naval Research Logistics (NRL), 2000, vol. 47, issue 7, 602-606

Abstract: In a recent paper, Teng, Chern, and Yang consider four possible inventory replenishment models and determine the optimal replenishment policies for them. They compare these models to identify the best alternative on the basis of minimum total relevant inventory costs. The total cost functions for Model 1 and Model 4 as derived by them are not exact for the comparison. As a result, their conclusion on the least expensive replenishment policy is incorrect. The present article provides the actual total costs for Model 1 and Model 4 to make a correct comparison of the four models. © 2000 John Wiley & Sons, Inc. Naval Research Logistics 47: 602–606, 2000

Date: 2000
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https://doi.org/10.1002/1520-6750(200010)47:73.0.CO;2-N

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:47:y:2000:i:7:p:602-606

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