摘要
In this paper, we propose a new model for improving the lot size obtained with the model of Woo, Hsu, and Wu （2001） proposed in their paper ＂An integrated inventory model for a single vendor and multiple buyers with ordering cost reduction＂ （Int. J. Production Economics 73 203-215）. The new model can provide a lower or equal joint total cost as compared to Woo, Hsu, and Wu＇s model due to the relaxation of their integral multiple material ordering cycle policy to a fractional-integral multiple material ordering cycle policy. The proposed model is analyzed and an algorithm for calculating the optimal lot size of the model is developed. A numerical study based on the example used by Woo, Hsu, and Wu is presented.
In this paper, we propose a new model for improving the lot size obtained with the model of Woo, Hsu, and Wu （2001） proposed in their paper ＂An integrated inventory model for a single vendor and multiple buyers with ordering cost reduction＂ （Int. J. Production Economics 73 203-215）. The new model can provide a lower or equal joint total cost as compared to Woo, Hsu, and Wu＇s model due to the relaxation of their integral multiple material ordering cycle policy to a fractional-integral multiple material ordering cycle policy. The proposed model is analyzed and an algorithm for calculating the optimal lot size of the model is developed. A numerical study based on the example used by Woo, Hsu, and Wu is presented.
基金
The work is supported by the National Natural Science Foundation of China under Grant No. 70501027
