An Inventory Model for Deteriorating Commodity under Stock Dependent Selling Rate

Economic order quantity (EOQ) is one of the most important inventory policy that have to be decided in managing an inventory system. The problem addressed in this paper concerns with the decision of the optimal replenishment time for ordering an EOQ to a supplier. This Model is captured the affect of stock dependent selling rate and varying price. We developed an inventory model under varying of demand-deterioration-price of commodity when the relationship of supplier-grocery-consumer at stochastic environment. The replenishment assumed instantaneous with zero lead time. The commodity will decay of quality according to the original condition with randomize characteristics. First, the model is addressed to solve a problem phenomenon how long is the optimum length of cycle time. Then, an EOQ of commodity to be ordered by will be determined by model. To solve this problem, the first step is developed a mathematical model based on reference’s model, and then solve the model analytically. Finally, an inventory model for deteriorating commodity under stock dependent selling rate and considering selling price was derived by this research. Keywords: deterioration commodity, expected profit, optimal replenishment time stock dependent selling rate

Advance Selling in the Presence of Experienced Consumers

The advance selling strategy is implemented when a firm offers consumers the opportunity to order its product in advance of the regular selling season. Advance selling reduces uncertainty for both the firm and the buyer and enables the firm to update its forecast of future demand. The distinctive feature of the present theoretical study of advance selling is that we divide consumers into two groups, experienced and inexperienced. Experienced consumers know their valuations of the product in advance. The presence of experienced consumers yields new insights. Specifically, pre-orders from experienced consumers lead to a more precise forecast of future demand by the firm. We show that the firm will always adopt advance selling and that the optimal pre-order price may or may not be at a discount to the regular selling price.advance selling, the Newsvendor Problem, demand uncertainty, experienced consumers, inexperienced consumers.

Optimal Design of Robust Combinatorial Mechanisms for Substitutable Goods

In this paper we consider multidimensional mechanism design problem for selling discrete substitutable items to a group of buyers. Previous work on this problem mostly focus on stochastic description of valuations used by the seller. However, in certain applications, no prior information regarding buyers' preferences is known. To address this issue, we consider uncertain valuations and formulate the problem in a robust optimization framework: the objective is to minimize the maximum regret. For a special case of revenue-maximizing pricing problem we present a solution method based on mixed-integer linear programming formulation

TINJAUAN YURIDIS ASAS ITIKAD BAIK DALAM TRANSAKSI ELEKTRONIK SEBAGAI PERLINDUNGAN HUKUM TERHADAP KONSUMEN

The principle of good faith is very important in electronic buying and selling transactions as an effort to protect consumers. This principle is regulated in Article 1338 paragraph (3) of the Civil Code and is considered fundamental in agreements, including electronic buying and selling. With the increase in electronic transactions through social media and e-commerce, consumers often face problems such as dishonest reviews, goods not delivered, or non-conforming goods. Therefore, this research aims to find out whether the principle of good faith has an important role in electronic buying and selling transactions against consumer protection and how legal protection if business actors do not apply the principle of good faith in electronic buying and selling transactions. The research method used in this research is the normative legal method. The problem approach used is the statute approach. The technique of collecting legal materials is done by literature study and document study, then analysed descriptively qualitatively. The results of this study provide insights related to the Electronic Information and Transaction Law (UU ITE) and the Consumer Protection Law (UUPK) regulating the obligation of business actors to provide complete and correct information and prohibiting trade in goods that are not in accordance with what is advertised. As well as legal protection for consumers who are harmed by business actors who do not act in good faith, including preventive and repressive efforts

Approximate Revenue Maximization with Multiple Items

Maximizing the revenue from selling _more than one_ good (or item) to a single buyer is a notoriously difficult problem, in stark contrast to the one-good case. For two goods, we show that simple "one-dimensional" mechanisms, such as selling the goods separately, _guarantee_ at least 73% of the optimal revenue when the valuations of the two goods are independent and identically distributed, and at least $50\%$ when they are independent. For the case of $k>2$ independent goods, we show that selling them separately guarantees at least a $c/\log^2 k$ fraction of the optimal revenue; and, for independent and identically distributed goods, we show that selling them as one bundle guarantees at least a $c/\log k$ fraction of the optimal revenue. Additional results compare the revenues from the two simple mechanisms of selling the goods separately and bundled, identify situations where bundling is optimal, and extend the analysis to multiple buyers.Comment: Presented in ACM EC conference, 201