Recently, Chiu et al. (2012)  present an alternative optimization procedure to derive the optimal replenishment lot size for an economic manufacturing quantity (EMQ) model with rework and multiple shipments. This inventory model was proposed by Chiu et al. (2011) . Both papers do not consider the determining of the number of shipments. This paper determines both the optimal replenishment lot size and the optimal number of shipments jointly. The solution of this paper is better than the solutions of Chiu et al. [1,2].
All Science Journal Classification (ASJC) codes
- Modelling and Simulation
- Applied Mathematics