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Newton-Raphson Method to Find the Optimal Ordering

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Pubblicato in:Opsearch vol. 36, no. 4 (Dec 1999), p. 343
Autore principale: Chu, Time P
Altri autori: Tang, W H
Pubblicazione:
Springer Nature B.V.
Soggetti:
Newton-Raphson method
Mathematical models
Queuing theory
Silver
Temperature
Operations research
Eigenvalues
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Abstract:In this paper, we show that the Newton-Raphson method is suitable to locate the optimal ordering time for the inventory model taking account of time value. First, we prove that the sequence constructed from Silver-Meal heuristic will converge. Second, we can take a point near to the limit point as the starting point for the Newton-Raphson method. Finally, from the numerical examples, we know that the Newton-Raphson method is superior to the bisection algorithms that are cited by two recent papers.
ISSN:0030-3887
0975-0320
DOI:10.1007/BF03398588
Fonte:ABI/INFORM Global