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A necessary and sufficient condition for the existence of the optimal solution of a single-vendor single-buyer integrated production-inventory model with process unreliability consideration

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  • Chung, Kun-Jen

Abstract

In general, an inventory problem consists of two parts: (1) the modeling and (2) the solution procedure. The accuracy of the solution procedure can help and simplify the implementation of the inventory model. Huang [2004. An optimal policy for a single-vendor single-buyer integrated production-inventory problem with process unreliability consideration. International Journal of Production Economics 91, 91-98] discusses a model to determine an optimal policy for a single-vendor single-buyer integrated production-inventory problem with process unreliability consideration. The objective is to minimize the total joint annual costs incurred by the vendor and the buyer. However, Huang's solution procedure seems easy to cause misunderstandings. So, the main purpose of this paper will give the necessary and sufficient condition for the existence of the optimal solution to complement and improve the solution procedure of Huang's inventory model.

Suggested Citation

  • Chung, Kun-Jen, 2008. "A necessary and sufficient condition for the existence of the optimal solution of a single-vendor single-buyer integrated production-inventory model with process unreliability consideration," International Journal of Production Economics, Elsevier, vol. 113(1), pages 269-274, May.
    • Handle: RePEc:eee:proeco:v:113:y:2008:i:1:p:269-274
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    References listed on IDEAS

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    1. Huang, Chao-Kuei, 2004. "An optimal policy for a single-vendor single-buyer integrated production-inventory problem with process unreliability consideration," International Journal of Production Economics, Elsevier, vol. 91(1), pages 91-98, September.
    2. Abdul-Jalbar, Beatriz & Gutierrez, Jose M. & Sicilia, Joaquin, 2007. "An integrated inventory model for the single-vendor two-buyer problem," International Journal of Production Economics, Elsevier, vol. 108(1-2), pages 246-258, July.
    3. Luo, Jianwen, 2007. "Buyer-vendor inventory coordination with credit period incentives," International Journal of Production Economics, Elsevier, vol. 108(1-2), pages 143-152, July.
    4. Zhang, Tinglong & Liang, Liang & Yu, Yugang & Yu, Yan, 2007. "An integrated vendor-managed inventory model for a two-echelon system with order cost reduction," International Journal of Production Economics, Elsevier, vol. 109(1-2), pages 241-253, September.
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    Cited by:

    1. Glock, Christoph H., 2012. "The joint economic lot size problem: A review," International Journal of Production Economics, Elsevier, vol. 135(2), pages 671-686.
    2. Tien-Yu Lin & Kuo-Lung Hou, 2015. "An imperfect quality economic order quantity with advanced receiving," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 23(2), pages 535-551, July.
    3. Ha, Daesung, 2010. "Note on: A necessary and sufficient conditions for the existence of the optimal solution of a single-vendor single-buyer integrated production-inventory model with process unreliability consideration," International Journal of Production Economics, Elsevier, vol. 124(1), pages 106-108, March.
    4. Anuraag Gutgutia & J. K. Jha, 2018. "A closed-form solution for the distribution free continuous review integrated inventory model," Operational Research, Springer, vol. 18(1), pages 159-186, April.

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