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- Title
Inventory Models of Decaying Items with Shortages and Salvage Value.
- Authors
Jinyuan Liu
- Abstract
Recently, Annadurai published an important paper in International journal of Management Science and Engineering Management for the optimal replenishment policy for inventory models of decaying items with shortages and salvage value. However, his solution procedure contained some questionable results. The purpose of this note is fourfold. First, we recap the inventory model proposed by Annadurai. Second, we provide our improvement. Third, we point out questionable results of Annadurai and then offer our revisions. Furth, we consider two boundary minimums that will be an improvement for the no shortage case and no stock case, respectively.
- Subjects
INVENTORIES; SCARCITY; ENGINEERING management; INDUSTRIAL engineering; MANAGEMENT science
- Publication
IAENG International Journal of Applied Mathematics, 2024, Vol 54, Issue 2, p308
- ISSN
1992-9978
- Publication type
Article