Abstract
Li et al. [Journal of Industrial and Management Optimization 5 (2009) 867–880] develops a model to determine an optimal replenishment policy with defective items and shortage backlogging under conditions of permissible delay of payments. They establish a theorem to characterize the optimal solution such that the expected total profit per unit time is maximized. The main purpose of this paper is to unify that theorem and improve Li et al. (2009).
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