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Integrated Supply Chain Cooperative Inventory Model with Payment Period Being Dependent on Purchasing Price under Defective Rate Condition
Joint Authors
Yang, M. F.
Lin, Yi
Kuo, Jun-Yuan
Chen, Wei-Hao
Source
Mathematical Problems in Engineering
Issue
Vol. 2015, Issue 2015 (31 Dec. 2015), pp.1-20, 20 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2015-04-20
Country of Publication
Egypt
No. of Pages
20
Main Subjects
Abstract EN
In most commercial transactions, the buyer and vendor may usually agree to postpone payment deadline.
During such delayed period, the buyer is entitled to keep the products without having to pay the sale price.
However, the vendor usually hopes to receive full payment as soon as possible, especially when the transaction involves valuable items; yet, the buyer would offer a higher purchasing price in exchange of a longer postponement.
Therefore, we assumed such permissible delayed period is dependent on the purchasing price.
As for the manufacturing side, defective products are inevitable from time to time, and not all of those defective products can be repaired.
Hence, we would like to add defective production and repair rate to our proposed model and discuss how these factors may affect profits.
In addition, holding cost, ordering cost, and transportation cost will also be considered as we develop the integrated inventory model with price-dependent payment period under the possible condition of defective products.
We would like to find the maximum of the joint expected total profit for our model and come up with a suitable inventory policy accordingly.
In the end, we have also provided a numerical example to clearly illustrate possible solutions.
American Psychological Association (APA)
Yang, M. F.& Kuo, Jun-Yuan& Chen, Wei-Hao& Lin, Yi. 2015. Integrated Supply Chain Cooperative Inventory Model with Payment Period Being Dependent on Purchasing Price under Defective Rate Condition. Mathematical Problems in Engineering،Vol. 2015, no. 2015, pp.1-20.
https://search.emarefa.net/detail/BIM-1074019
Modern Language Association (MLA)
Yang, M. F.…[et al.]. Integrated Supply Chain Cooperative Inventory Model with Payment Period Being Dependent on Purchasing Price under Defective Rate Condition. Mathematical Problems in Engineering No. 2015 (2015), pp.1-20.
https://search.emarefa.net/detail/BIM-1074019
American Medical Association (AMA)
Yang, M. F.& Kuo, Jun-Yuan& Chen, Wei-Hao& Lin, Yi. Integrated Supply Chain Cooperative Inventory Model with Payment Period Being Dependent on Purchasing Price under Defective Rate Condition. Mathematical Problems in Engineering. 2015. Vol. 2015, no. 2015, pp.1-20.
https://search.emarefa.net/detail/BIM-1074019
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1074019