A comprehensive note on: An inventory model under two levels of trade credit and limited storage space derived without derivatives |
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| Authors: | Jinn-Tsair Teng Jenner Chen SK Goyal |
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| Institution: | aDepartment of Marketing and Management Sciences, The William Paterson University of New Jersey, Wayne, New Jersey 07470-2103, USA;bDepartment of Industrial Engineering and Engineering management, National Tsing Hua University, Hsinchu 30013, Taiwan, ROC;cDepartment of Decision Sciences and MIS, John Molson School of Business, Concordia University, Montreal, Quebec, Canada H3G 1M8 |
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| Abstract: | In 2006, Huang proposed an inventory model with two warehouses when the supplier offers the retailer a permissible delay of M periods, and the retailer also provides its customers a permissible delay of N periods. He then solved it without derivatives. In this note, we extend his model to complement the shortcomings of his model. In contrast to the complicated and tedious quadratic–algebraic method suggested by Huang, we propose a simple arithmetic–geometric method to solve the inventory problem. Finally, we run computer programs for several numerical examples to illustrate the proposed model and obtain some managerial implications. |
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| Keywords: | Inventory Trade credits Two warehouses Arithmetic– geometric mean inequality Finance |
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