“A JOINT ECONOMIC‐LOT‐SIZE MODEL FOR PURCHASER AND VENDOR”: A COMMENT*

Abstract

ABSTRACT Banerjee [1] developed a joint economic‐lot‐size model for the case where a vendor produces to order for a purchaser on a lot‐for‐lot basis under deterministic conditions. The assumption of lot‐for‐lot bases is restrictive in nature. In this note, a more general joint economic‐lot‐size model is suggested and it is shown to provide a lower or equal joint total relevant cost as compared to the model of Banerjee.