A unified convergence theory of a numerical method,and applications to the replenishment policies |
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| Authors: | Mi Xiang-jiang Wang Xing-hua |
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| Institution: | (1) Department of Mathematics, Zhejiang University, 310028 Hangzhou, China |
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| Abstract: | In determining the replenishment policy for an inventory system, some researchers advocated that the iterative method of Newton could be applied to the derivative of the total cost function in order to get the optimal solution. But this approach requires calculation of the second derivative of the function. Avoiding this complex computation we use another iterative method presented by the second author. One of the goals of this paper is to present a unified convergence theory of this method. Then we give a numerical example to show the application of our theory. |
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| Keywords: | Inventory Shortages Deterioration Zero of derivative Iteration Optimization theory |
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