Article ID: | iaor20011156 |
Country: | United Kingdom |
Volume: | 32 |
Issue: | 2 |
Start Page Number: | 267 |
End Page Number: | 274 |
Publication Date: | Jan 1999 |
Journal: | Engineering Optimization |
Authors: | Chung Kun-Jen, Chu Peter, Lan Shaw-Ping |
In a recent paper, Ben-Daya and Raouf presented a continuous review inventory model in which they considered both lead time and order quantity as decision variables where the total crashing cost is denoted by a negative exponential function of the lead time. However, the solution procedure of Ben-Daya and Raouf has some drawbacks sometimes. The Newton–Raphson method with an appropriate starting point is used to improve that of Ben-Daya and Raouf. Numerical examples illustrate how the Newton–Raphson method works.