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“A JOINT ECONOMIC‐LOT‐SIZE MODEL FOR PURCHASER AND VENDOR”: A COMMENT *
Author(s) -
Goyal S. K.
Publication year - 1988
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.1540-5915.1988.tb00264.x
Subject(s) - vendor , joint (building) , order (exchange) , computer science , operations research , economic model , econometrics , mathematical economics , economics , microeconomics , mathematics , business , marketing , finance , architectural engineering , engineering
Banerjee [1] developed a joint economic‐lot‐size model for the case where a vendor produces to order for a purchaser on a lot‐for‐lot basis under deterministic conditions. The assumption of lot‐for‐lot bases is restrictive in nature. In this note, a more general joint economic‐lot‐size model is suggested and it is shown to provide a lower or equal joint total relevant cost as compared to the model of Banerjee.