The simplified solution algorithm for an integrated supplier–buyer inventory model with two‐part trade credit in a supply chain system

The simplified solution algorithm for an integrated supplier–buyer inventory model with two‐part trade credit in a supply chain system

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Article ID: iaor20115032
Volume: 213
Issue: 1
Start Page Number: 156
End Page Number: 165
Publication Date: Aug 2011
Journal: European Journal of Operational Research
Authors: ,
Keywords: inventory
Abstract:

Ho et al. (2008) discussed the integrated inventory model with two-part trade credit and presented an algorithm to solve it. Basically, Ho et al.’s inventory model is correct and interesting. However, this paper indicates that the solution algorithm described in can be simplified further. So, this paper can not only derive the optimally closed-form formulations for the optimal numbers of shipments but also develop different algorithms to improve those in . Numerical examples illustrate that the algorithm to locate the optimal solution is rather accurate and rapid.

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