Inventory ordering policies for mixed sale of products under inspection policy, multiple prepayment, partial trade credit, payments linked to order quantity and full backordering

The situation where serviceable products are sold together with a proportion of deteriorating products to consumers is rarely discussed in the literature. This article proposes an inventory model with disparate inventory ordering policies under a situation where a portion of serviceable products and a portion of deteriorating products are sold together to consumers (i.e. mixed sales). The ordering policies consider a hybrid payment strategy with multiple prepayment and partial trade credit schemes linked to order quantity under situations where no inventory shortage is allowed and inventory shortage is allowed with full backorder. The hybrid payment policy offered by a supplier is introduced into the classical economic ordering quantity model to investigate the optimal inventory cycle and the fraction of demand that is filled from the deteriorating products under inspection policy. Further, a new solution method is proposed that identifies optimal annual total profit with mixed sales assuming no inventory shortage and inventory shortage with full backorder. The impact of an inspection policy is investigated on the optimality of the solution under hybrid payment strategies for the deteriorating products. The validation of the proposed model and its solution method is demonstrated through several numerical examples. The results indicate that the inventory model along with the solution method provide a powerful tool to the retail managers under real-world situations. Results demonstrate that it is essential for the managers to consider inclusion of an inspection policy in the mixed sales of products, as the inspection policy significantly increases the net annual profit

Diseño de una heurística para la coordinación entre minoristas, considerando múltiples-productos, descuentos y pagos flexibles

En Colombia las Pymes representan el 99,9% del total de las empresas (DINERO ECONOMÍA, 2015), estas no tienen el poder adquisitivo para acceder a descuentos por volumen y tampoco de pagar en forma inmediata por lo anterior este documento estudia el problema de definir la política de inventarios para múltiples productos, coordinando una bodega con N minoristas, donde los minoristas pueden aliarse para disminuir sus costos ya que pueden acceder a descuentos por volumen y tienen opciones de pagos flexibles dados por la bodega. Para la solución de este problema se propone una técnica de solución que permita determinar alianzas entre minoristas y las respectivas políticas de inventarios con el fin de minimizar los costos totales. Este proyecto se basará en la metodología DMAIC definida en la norma ISO 13053 de 2011, en la cual se plantean cinco fases: Definir, Medir, Analizar, Mejorar y Controlar. Se espera que la técnica arroje las alianzas, la cantidad a ordenar para cada producto de cada minorista y el plazo a pagar, así mismo los resultados deben mejorar el desempeño de las conseguidas antes de las alianzas.Although small and medium sized enterprises (SMEs) represent the 99,9% of the companies in Colombia (DINERO ECONOMIA, 2015), they neither have the purchasing power to benefit from quantity discounts offered by the supplier, nor they are able to make inmediatly payments. As a result, this paper aims to study the problem of how to define a inventory policy for multiple products by coordinating a warehouse to N retailers where they can form coalitions in order to minimize their individual cost as they both access to total discounts per volume and have flexible payment options. To solve this problem, we propose a solution technique that helps to identify coalitions between retailers and corresponding inventory policies with the purpose to minimize the final costs. This project is based on the DMAIC methodology supported by the ISO 13053 (2011) standard, which suggest a five-step process: Define, Measure, Analize, Improve and Control- It is expected that the technique brings with it the associations, the quantity of product to order for each retailer and the payment deadline. Finally, the results obtained through the technique are expected to be better than those achieved before the coalitions.Ingeniero (a) IndustrialPregrad