The algorithm for the optimal cycle time and pricing decisions for an integrated inventory system with order-size dependent trade credit in supply chain management

Chung, Kun‐Jen; Liao, Jui‐Jung; Ting, Pin‐Shou; Lin, Shy‐Der; Srivástava, H. M.

doi:10.1016/j.amc.2015.06.039

Cited by 18 publications

(12 citation statements)

References 20 publications

(43 reference statements)

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“…This would lead to a worthwhile contribution in the supply chain management system. We choose also to refer the interested reader to such related recent developments in the subject as those by Chung et al 15 , to their other recent works, 16,[40][41][42][43][44][45] and by Liao et al 17,18 ).…”

Section: Resultsmentioning

confidence: 99%

“…Many additional related developments can be found in the works by Sett et al, Yen et al, Yang and Chang, Zhong and Zhou, Soni, Liao et al, Bhunia et al, and the references cited in each of these works. The interested reader is referred also to such related recent works as those by Chung et al to their other recent work) and by Liao et al…”

Section: Introductionmentioning

confidence: 97%

“…Many additional related developments can be found in the works by Sett et al, 8 Yen et al, 9 Yang and Chang, 10 Zhong and Zhou, 11 Soni, 12 Liao et al, 13 Bhunia et al, 14 and the references cited in each of these works. The interested reader is referred also to such related recent works as those by Chung et al 15 to their other recent work 16 ) and by Liao et al 17,18 On the other hand, in most realistic environment, it can be observed that such situations as (for example) weak process control, deficient planned maintenance, and inadequate work instructions or damage in transit can cause many arriving order lots to contain defective items, which affect the on-hand inventory level, the frequency of orders, and incur additional cost. Furthermore, the inspection of the lot becomes indispensable in all public and private sector organizations.…”

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confidence: 99%

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Retailer's optimal ordering policy in the EOQ model with imperfect‐quality items under limited storage capacity and permissible delay

Liao

Huang

Chung

et al. 2018

Math Methods in App Sciences

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With a view to reducing inventory and increase sales, a supplier frequently offers its buyers a permissible delay in payment to attract new retailers for bulk purchase, and so extra storage spaces are needed for the buyers. Moreover, in a real environment, some defective items are produced because not only the production processes but also the inspection processes are not perfect, thereby generating defects then resulting in extra costs. Keeping these facts in mind, this article proposes a profit‐maximizing economic order quantity model that incorporates both imperfect production quality and permissible delay in payments in the case when the own warehouse with limited capacity is not sufficient to store the ordered quantity and, therefore, a rented warehouse is needed to store the excess units over the capacity of the owned warehouse. Mathematical model and solution procedures are developed with major insight into its functional characteristics. Numerical examples and sensitivity analysis are provided to illustrate and analyze the model performances. It is observed that our model has significant impacts on the optimal lot size and the optimal profit of the mathematical model, which is considered in this article.

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Section: Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 97%

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confidence: 99%

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Retailer's optimal ordering policy in the EOQ model with imperfect‐quality items under limited storage capacity and permissible delay

Liao

Huang

Chung

et al. 2018

Math Methods in App Sciences

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“…Some of noteworthy contributions are . Next, a nonlinear demand rate (quadratic type demand rate) is developed by Ghosh and Chaudhuri in 2006. Notable works in this direction came from researchers in pervious studies ( and references therein).…”

Section: Introductionmentioning

confidence: 99%

An inventory model for ameliorating/deteriorating items with trapezoidal demand and complete backlogging under inflation and time discounting

Srivástava

2016

Math Methods in App Sciences

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Communicated by W. SprößigRecently, numerous inventory models were developed for ameliorating items (say, fish, ducklings, chicken, etc.) considering the constant demand rate. However, such types of problems are not useful in the real market. The demand rate of ameliorating items is fluctuates in their life-period. The consumption and demand of ameliorating items are not generally steady. In a few seasons, the demand rate increases; ordinarily, it is static, and sometimes, it declines. With the outcome that their demand rate can be properly portrayed by a trapezoidal-type. In the proposed model, an inventory model for ameliorating/deteriorating items are considered with inflationary condition and time discounting rate. Additionally, having shortages that is completely backlogged. The demand rate is taken as the continuous trapezoidal-type function of time. The amelioration and deterioration rate are considered as Weibull distribution. To obtain the minimum cost, mathematical formulation of the proposed model with solution procedure is talked about. Numerical cases are given to be checked the optimal solution. Additionally, we have talked about the convexity of the proposed model through graphically. Conclusion with future worked are clarified appropriately.

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“…Regarding the order cycle time, much of the existing literature focuses on the inventory management and the size of production batch. Chung et al (2015) study an integrated inventory model with a price-sensitive demand rate, and develop an algorithm to determine the optimal order cycle time and pricing decisions in order to maximize the total profit per unit time. Chung and Huang (2006) develop a production/inventory model with imperfect quality and a permissible credit period.…”

Section: Literature Reviewmentioning

confidence: 99%

Impacts of Order Cycle Time on the Bullwhip Effect: A Numerical Study

Li¹,

Choi²

2017

JMPP

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The bullwhip effect phenomenon refers to the amplification of demand variability as movingaway from the end customers to the suppliers in a supply chain. This research is concerned with the impacts of order cycle time on the bullwhip effect by considering its four major causes, i.e., demand forecast, price fluctuation, anticipation of shortages, andorder batching. Considering a two-echelon supply chain, fournumerical examples are developed where a multi-period inventory system with a periodic review policy is used.In each order cycle, a replenishment is initiated to raise the inventory to the order-up-to level, and the variance ratio of the manufacturer order to the market demand is calculated. Our results show that order cycle time reduction could counterattack four major causes of the bullwhip effect at the same time.

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The algorithm for the optimal cycle time and pricing decisions for an integrated inventory system with order-size dependent trade credit in supply chain management

Cited by 18 publications

References 20 publications

Retailer's optimal ordering policy in the EOQ model with imperfect‐quality items under limited storage capacity and permissible delay

Retailer's optimal ordering policy in the EOQ model with imperfect‐quality items under limited storage capacity and permissible delay

An inventory model for ameliorating/deteriorating items with trapezoidal demand and complete backlogging under inflation and time discounting

Impacts of Order Cycle Time on the Bullwhip Effect: A Numerical Study

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