Optimal manufacturer’s replenishment policies for deteriorating items in a supply chain with up-stream and down-stream trade credits

[[abstract]]Liao (2008) presented the optimal retailer’s replenishment policies in the EPQ model for deteriorating items with two-level trade credit, in which the retailer receives the supplier trade credit M, and provides the customer trade credit N (N<M) simultaneously. In this paper, we extend her EPQ model to complement the shortcoming of her model. In addition, we relax the dispensable assumption of N<M and others. We then establish an appropriate EPQ model to the problem. Next, we propose a simple arithmetic–geometric inequality method to find the optimal solution when the deterioration rate is sufficiently small. We also develop the proper theoretical results to obtain the optimal solution when the deterioration rate is not sufficiently small. Finally, numerical examples are presented to illustrate the proposed model and its optimal solution.[[incitationindex]]SCI[[incitationindex]]EI[[booktype]]紙

Optimal replenishment policies for non-instantaneous deteriorating items with stock-dependent demand

100學年度研究獎補助論文[[abstract]]Wu et al. [2006. An optimalreplenishmentpolicy for non-instantaneousdeterioratingitems with stock-dependentdemand and partial backlogging. International Journal of Production Economics 101, 369–384] established an inventory model for non-instantaneousdeterioratingitems with stock-dependentdemand, and obtained the optimalreplenishmentpolicy. In this paper, we first amend Wu et al.'s model by changing the objective to maximizing the total profit. Secondly, we set a maximum inventory level in the model to reflect the facts that most retail outlets have limited shelf space. Thirdly, we relax the restriction of zero ending inventory when shortages are not desirable. We then establish the theoretical results and provide an algorithm to find the optimal solution. Finally, we present some numerical examples to illustrate the results.[[journaltype]]國外[[incitationindex]]SCI[[booktype]]紙本[[countrycodes]]NL

Optimal payment time with deteriorating items under inflation and permissible delay in payments

[[abstract]]This article develops an inventory model under a situation in which the supplier provides the purchaser with a permissible delay of payments. Shortages are not allowed and the effect of the inflation rate, deterioration rate and delay in payment are discussed as well. As a result, in this article, we establish a mathematical model to determine the optimal payment period and replenishment cycle. Using Taylor series approximation, we characterise the optimal solution and provide an easy-to-use algorithm to find the optimal solution. Finally, the proposed models are illustrated through numerical examples and the sensitivity analysis is reported.[[journaltype]]國外[[incitationindex]]SCI[[incitationindex]]SSCI[[incitationindex]]EI[[ispeerreviewed]]Y[[booktype]]紙本[[booktype]]電子版[[countrycodes]]GB

Optimal pricing and ordering policies for non-instantaneously deteriorating items under order-size-dependent delay in payments

[[abstract]]In today’s competitive business transactions, the supplier may permit his/her retailers a delay in payment in order to encourage the retailers to buy more. During the permissible delay period, the retailer is allowed to postpone paying for the products bought without incurring any interest. In this study, we consider an inventory system with non-instantaneously deteriorating items in circumstances where the supplier provides the retailer with various trade credits linked to order quantity. First, we develop a mathematical model to identify the optimal pricing and ordering policies for maximizing the retailer’s total profit. This followed by a discussion of the characteristics of the optimal solution. We then propose some algorithms for finding the optimal solutions. Finally, numerical examples are presented and a sensitivity analysis is undertaken to illustrate the proposed model.[[notice]]補正完畢[[incitationindex]]SCI[[ispeerreviewed]]Y[[booktype]]電子版[[countrycodes]]US

A two-warehouse partial backlogging inventory model for deteriorating items with permissible delay in payment under inflation

[[abstract]]In the business transactions, the supplier usually offers a permissible delay in payment to his retailer to attract more sales. In addition, a permissible delay in payment may be applied as an alternative to price discount. Based on the above phenomena, we incorporate a permissible delay in payment into the model of Yang [1] and develop a two-warehouse partial backlogging inventory model for deteriorating items with permissible delay in payment under inflation. The objective of this study is to derive the retailer’s optimal replenishment policy that maximizes the net present value of the profit per unit time. The necessary and sufficient conditions for an optimal solution are characterized. An algorithm is developed to find the optimal solution. Finally, numerical examples are provided to illustrate the proposed model. Sensitivity analysis is made and some managerial implications are presented.[[journaltype]]國外[[booktype]]紙本[[booktype]]電子版[[countrycodes]]US

Optimal ordering and transfer policy for an inventory with stock dependent demand

[[abstract]]This paper deals with an ordering-transfer inventory model to determine the retailer’s optimal order quantity and the number of transfers per order from the warehouse to the display area. It is assumed that the amount of display space is limited and the demand rate depends on the display stock level. The objective is to maximize the average profit per unit time yielded by the retailer. The proposed models and algorithms are developed to find the optimal strategy by retailer. Numerical examples are presented to illustrate the models developed and the sensitivity analysis is also reported.[[journaltype]]國外[[incitationindex]]SCI[[incitationindex]]EI[[booktype]]紙本[[countrycodes]]NL

Optimal manufacturer’s replenishment policies in the EPQ model under two levels of trade credit policy

[[abstract]]In 2007, Huang proposed the optimal retailer’s replenishment decisions in the EPQ model under two levels of trade credit policy, in which the supplier offers the retailer a permissible delay period M, and the retailer in turn provides its customer a permissible delay period N (with N < M). In this paper, we extend his EPQ model to complement the shortcoming of his model. In addition, we relax the dispensable assumptions of N < M and others. We then establish an appropriate EPQ model to the problem, and develop the proper theoretical results to obtain the optimal solution. Finally, a numerical example is used to illustrate the proposed model and its optimal solution.[[journaltype]]國外[[incitationindex]]SCI[[incitationindex]]EI[[incitationindex]]SSCI[[booktype]]紙本[[countrycodes]]NL

A comprehensive note on “Lot-sizing decisions for deteriorating items with two warehouses under an order-size-dependent trade credit”

[[abstract]]To reduce inventory and increase sales, the supplier frequently offers the retailer a permissible delay in payments if the retailer orders more than or equal to a predetermined quantity. In 2012, Liao et al. proposed an economic order quantity model for a retailer with two warehouses when the supplier offers a permissible delay linked to order quantity. In this paper, we attempt to overcome some shortcomings of their mathematical model. Then, we apply some existing theoretical results in fractional convex programs to prove that the annual total variable cost is pseudoconvex. Hence, the optimal solution exists uniquely, which simplifies the search for the global minimum solution to a local minimum solution. Finally, we run a couple of numerical examples to illustrate the problem and compare the optimal solutions between theirs and ours.[[notice]]補正完畢[[journaltype]]國外[[incitationindex]]SCI[[ispeerreviewed]]

The retailer's optimal ordering policy with trade credit in different financial environments

[[abstract]]In business transactions, it is quite common for the supplier to offer the retailer a permissible delay in payments in order to stimulate the demand of the retailer. The retailer can either pay off all accounts at the end of the credit period or delay incurring interest charges on the unpaid and overdue balance due to the difference between interest earned and interest charged. In this study, we consider different financial environments when the supplier provides a permissible delay in payments. The proper mathematical models are developed to find the optimal order quantity and payoff time for maximizing the retailer’s total profit for each financial environment. Furthermore, two theorems are established to determine the optimal solutions. Finally, numerical examples are presented to illustrate the proposed model. A sensitivity analysis is performed and economic interpretations are proposed.[[incitationindex]]SCI[[booktype]]紙本[[booktype]]電子