| Article ID: | iaor20001339 |
| Country: | India |
| Volume: | 20 |
| Issue: | 1 |
| Start Page Number: | 137 |
| End Page Number: | 148 |
| Publication Date: | Jan 1999 |
| Journal: | Information & Optimization Sciences |
| Authors: | Chung Kun-Jen |
| Keywords: | economic order |
This paper discusses the inventory model, which is the same as that of Chung, when the vendor permits delay in payment. First, this paper derives bounds for optimal order quantities. Second, with these bounds, a simple algorithm to locate optimal order quantities is developed. Third, this paper explains why our results are different from those of Chung.