政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/100714

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 109950/140901 (78%)
Visitors : 46022392 Online Users : 810

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 企業管理學系 > 期刊論文 > Item 140.119/100714

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/100714

Title:	A Comparison of Average and Discounted Cost Models for the Dynamic Lot Size Inventory Problem
Authors:	唐揆 Chand, S.;Tang, Kwei
Contributors:	企管系
Keywords:	Inventory;production;heuristics;optimization
Date:	1985-10
Issue Date:	2016-08-24 17:23:23 (UTC+8)
Abstract:	It is a common practice in the inventory literature to use average cost models as approximations to the theoretically correct discounted cost models. An average cost model minimizes the average undiscounted cost per period, while a discounted cost model minimizes the total discounted cost over the problem horizon. This paper attempts to answer an important question: How good are the results (the total discounted costs) for the average cost models compared to those for the discounted cost models? This question has been conclusively answered for the simplest inventory model where the demand rate and other parameters are assumed to remain constant in time. This paper addresses this issue for the first time for the case where demand rates are allowed to be nonstationary in time. A discounted cost model has been developed in the paper to carry out this comparison. It is shown that a simple dynamic programming algorithm can be used to find optimal order policies for the discounted cost model. The effect of the varying interest rates and other parameters on the relative performance of the average cost model has been studied by developing an insightful analysis and also by doing a computational study. The results show that, while the average cost model can cost as much as about 26% more than the discounted cost model in extreme cases, this increase is not significant for the parameter values in the range of the common interest.
Relation:	European Journal of Operational Research, 22(1), 9-18
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1016/0377-2217(85)90110-9
DOI:	10.1016/0377-2217(85)90110-9
Appears in Collections:	[企業管理學系] 期刊論文

Files in This Item:

File	Description	Size	Format
index.html		0Kb	HTML2	905	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...