%0 Journal Article
%T A note on joint determination of the rotation cycle time and number of shipments for a multiitem EPQ model with a random defective rate
%A Chang
%A Huei-Hsin
%A Chiu
%A Singa Wang
%A Sung
%A Peng-Cheng
%J -
%D 2015
%X Sa£żetak This study proposes a two-phase, algebraic approach to resolve the rotation cycle time and number of shipments for a multi-item, economic production quantity (EPQ) model with a random defective rate. A conventional method for solving a multi-item EPQ model is to use differential calculus and Hessian matrix equations on system cost function to prove convexity first and then derive an optimal production-shipment policy [1], whereas the proposed approach obtains the optimal operating policy in a simplified, two-phase algebraic way, using neither differential calculus nor Hessian matrix equations. The simplification enables managing practitioners to effectively determine real-life, vendor-buyer integrated multi-item EPQ systems
%K optimization
%K production-shipment policy
%K multi-item EPQ model
%K vendor-buyer
%K integrated system
%K algebraic approach
%U https://hrcak.srce.hr/index.php?show=clanak&id_clanak_jezik=250608