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- W2955137202 abstract "In the year 2004, Chang and Teng investigated an inventory model for deteriorating items in which the supplier not only provides a cash discount, but also allows a permissible delay in payments. The main purpose of the present investigation is three-fold, as follows. First, it is found herein that Theorem 1 of Chang and Teng (2004) has notable shortcomings in terms of their determination of the optimal solution of the annual total relevant cost Z ( T ) by adopting the Taylor-series approximation method. Theorem 1 in this paper does not make use of the Taylor-series approximation method in order to overcome the shortcomings in Chang and Teng (2004) and alternatively derives all the optimal solutions of the annual total relevant cost Z ( T ) . Secondly, this paper systematically revisits the annual total relevant cost Z ( T ) in Chang and Teng (2004) and presents in detail the mathematically correct ways for the derivations of Z ( T ) . Thirdly, this paper not only shows that Theorem 1 of Chang and Teng (2004) is not necessarily true for finding the optimal solution of the annual total relevant cost Z ( T ) , but it also demonstrates how Theorem 1 in this paper can locate all of the optimal solutions of Z ( T ) . The mathematical analytic investigation presented in this paper is believed to be useful for correct managerial considerations and managerial decisions." @default.
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- W2955137202 date "2019-07-02" @default.
- W2955137202 modified "2023-09-29" @default.
- W2955137202 title "The Inventory Model for Deteriorating Items under Conditions Involving Cash Discount and Trade Credit" @default.
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- W2955137202 doi "https://doi.org/10.3390/math7070596" @default.
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