Novel Solution Method for Inventory Models with Stochastic Demand and Defective Units

Abstract

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.

Estimación de la Cantidad de Pedido y el Punto de Reorden para un Artículo con Demanda y Tiempo de Entrega Aleatorios

“…El modelo de Mohammadmahdi, se valida mediante una prueba de hipótesis estadística para el caso de tiempo de entrega determinista, luego, el módulo optimizador del software de simulación, OptQuest, se aplica como herramienta de optimización para encontrar soluciones cuasi óptimas, para una serie de ejemplos con tiempo de entrega estocásticos. Luo et al, (2020) presentan un método iterativo novedoso para simplificar el enfoque de tres secuencias para la solución óptima. Mediante los mismos ejemplos numéricos de tres artículos publicados con anterioridad, demuestran que hay tres características distintas de este nuevo enfoque: (i) converge a la solución deseada dentro del valor umbral preasignado, (ii) se estima la razón convergente, y (iii) se encuentran los factores dominantes para la secuencia convergente propuesta.…”

Optimal Replenishment Policies and Trade Credit for Integrated Inventory Problems in Fuzzy Environment

“…Johari et al [14] analyzed coordinated joint pricing and periodic review ordering choices for a supply chain with stochastic pricedependent demand. Most recent studies on stochastic inventory problems include Claudio et al [15], Luo et al [16], Achin and Sunil [17], Raza [18], Mario et al [19], Malek et al [20], Tai et al [21], Momeni and Afshar-Nadjafi [22], and Li et al [23].…”