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UNCERTAINTY AND THE LOT‐SIZE REORDER‐POINT MODEL
Author(s) -
Horowitz Ann R.,
Horowitz Ira
Publication year - 1987
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1987.tb01555.x
Subject(s) - reorder point , computer science , point (geometry) , variable (mathematics) , operations research , mathematical economics , econometrics , economics , mathematics , business , marketing , geometry , economic order quantity , mathematical analysis , supply chain
Noori and Keller [1] recently proposed a lot‐size reorder‐point model in which the quantity received is a random variable. The authors failed, however, to explore the full implications of their initial definitions. This oversight leads to some misleading inferences that we try to correct in this note.