Home | Industry Information | Business News | Browse by Publication | E | Engineering Economist

A note on "the effect of time-value of money on discrete time-varying demand lot-sizing models with learning and forgetting considerations".

Publication: Engineering Economist
Publication Date: 22-MAR-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
INTRODUCTION

Studies on incorporating inventory models with learning curves start around 1960s and a huge literature is gathered up today. Jaber and Bonney [2] published a detailed literature study in 1999. In this area, almost all of the work is related to continuous time demand. to our...

View more below

You can view this article PLUS...

  • Hundreds of the most trusted magazines, newspapers, newswires, and journals (see list)
  • Business news from North America and around the World
  • More than 10 years of article archives
  • Unlimited Access at any time - ONLINE and all in ONE place

Now for a Limited Time, try Goliath Business News - Free for 7 Days!
Tell Me More   Terms and Conditions
Already a subscriber?
Log in to view full article
Purchase this article for $4.95

...According search, just Chiu and Chen [1, 3-5] developed lot-sizing models with discrete time varying demand and learning and forgetting effects in the literature. But there is a drawback in the developed extended WWA algorithm to obtain an optimal solution in [1] because of learning curve structure.

A NEW SOLUTION ALGORITHM

According to Eq. (4) on page 208 of the related paper [1], the cost of first unit of an order at period j depends on the cost of first unit and the size of last order prior to period j. It seems that the authors assume the sum of all demands of periods 1 to j - 1 (j > 2) are...

NOTE: All illustrations and photos have been removed from this article.



More articles from Engineering Economist
A real options model for workforce cross-training., June 22, 2005
Reminiscences of the founder and editor of The Engineering Economist., June 22, 2005
Managing capacity in the high-tech industry: a review of literature., June 22, 2005
On the validity of the geometric Brownian motion assumption., June 22, 2005
Letter from the editor.(Editorial), June 22, 2005

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.