scholarly journals Optimal pre-sale policy for deteriorating items

2022 ◽  
Vol 12 (1) ◽  
pp. 109
Author(s):  
Lianxia Zhao ◽  
Hui Qiao ◽  
Qi An
Keyword(s):  
Existence And Uniqueness ◽  
Numerical Experiments ◽  
Optimal Solution ◽  
Inventory Model ◽  
Economic Order Quantity ◽  
Optimal Pricing ◽  
Order Quantity ◽  
Stock Level ◽  
Pricing Decisions ◽  
Theoretical Results

<p style='text-indent:20px;'>Pre-sale policy is a frequently-used sales approach for deteriorating products, e.g, fruits, vegetables, seafood, etc. In this paper, we consider an EOQ inventory model under pre-sale policy for deteriorating products, in which the demand of pre-sale period depends on price and pre-sale horizon, and the demand of spot-sale period depends on the price and stock level. Optimal pricing decisions and economic order quantity are also provided. We compare pre-sale model with a benchmark inventory model in which all the products are sold in spot-sale period. Theoretical results are derived to show the existence and uniqueness of the optimal solution. Numerical experiments are carried out to to illustrate the theoretical results. And sensitivity analysis is conducted to identify conditions under which the pre-sale policy is better off than the spot-sale only policy.</p>

On Optimal Inventory Model for Obsolescence Perishable Products under Unpermitted-Stockout

2011 ◽  
Vol 201-203 ◽  
pp. 1292-1295
Author(s):  
Xiao Liang Xie
Keyword(s):  
Optimal Solution ◽  
Inventory Model ◽  
Economic Order Quantity ◽  
Inventory Level ◽  
Order Quantity ◽  
Short Life ◽  
Numerical Examples ◽  
Fast Change ◽  
Demand Rate ◽  
Long Life

With the advancement of science and technology and the fast change of buyer requirements, the short-life products have been shortened at large, some formerly long-life products gradually turn to value deterioration products. The ratio of value deterioration products to modern products is getting higher and higher. This paper develops a deterministic economic order quantity EOQ inventory model, where the demand rate depends on the on-hand inventory when inventory level exceeds certain quantity , otherwise the demand rate is constant. The effects of obsolescence are taken into account, for it is related to the demand rate. The results are discussed through two numerical examples. A sensitivity analysis of the optimal solution with respect to parameters of the system is carried out.

scholarly journals Optimal Replenishment Decisions under Two-Level Trade Credit with Partial Upstream Trade Credit Linked to Order Quantity and Limited Storage Capacity

2014 ◽  
Vol 2014 ◽  
pp. 1-14 ◽  
Author(s):  
Chih-Te Yang ◽  
Liang-Yuh Ouyang ◽  
Chang-Hsien Hsu ◽  
Kuo-Liang Lee
Keyword(s):  
Trade Credit ◽  
Storage Capacity ◽  
Sufficient Conditions ◽  
Real Life ◽  
Optimal Solution ◽  
Economic Order Quantity ◽  
Order Quantity ◽  
Eoq Models ◽  
Necessary And Sufficient ◽  
Theoretical Results

This paper extends the previous economic order quantity (EOQ) models under two-level trade credit such as Goyal (1985), Teng (2002), Huang (2003, 2007), Kreng and Tan (2010), Ouyang et al. (2013), and Teng et al. (2007) to reflect the real-life situations by incorporating the following concepts: (1) the storage capacity is limited, (2) the supplier offers the retailer a partially upstream trade credit linked to order quantity, and (3) both the dispensable assumptions that the upstream trade credit is longer than the downstream trade creditN<Mand the interest charged per dollar per year is larger than or equal to the interest earned per dollar per yearIc<Ieare relaxed. We then study the necessary and sufficient conditions for finding the optimal solution for various cases and establish a useful algorithm to obtain the solution. Finally, numerical examples are given to illustrate the theoretical results and provide the managerial insights.

A Generalized Economic Order Quantity Inventory Model with Shortage: Case Study of a Poultry Farmer

2018 ◽  
Vol 44 (3) ◽  
pp. 2653-2663 ◽  
Author(s):  
Amir Hossein Nobil ◽  
Amir Hosein Afshar Sedigh ◽  
Leopoldo Eduardo Cárdenas-Barrón
Keyword(s):  
Inventory Model ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity

A Study on Patent Storage Problems of Cooperation between Small and Micro Businesses and Universities in the Triple Helix of University-Industry-Government Relations — Based on Economic Order Quantity Model

2013 ◽  
Vol 712-715 ◽  
pp. 3149-3152 ◽  
Author(s):  
Pei Yu Tang ◽  
Shi Bin Su
Keyword(s):  
Triple Helix ◽  
Optimal Solution ◽  
Research Direction ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Future Research ◽  
Order Quantity ◽  
Future Research Direction ◽  
Government Relations ◽  
University Industry

The paper uses Economic Order Quantity Model to analyze patent storage problems of cooperation between small and micro businesses and universities from the perspective of university-industry-government relations and reach a conclusion. The author obtains the optimal solution and points out the future research direction.

scholarly journals Evaluasi Perencanaan Persediaan Antibiotik Secara Kuantitatif Di Instalasi Farmasi Rumah Sakit Tipe A

2020 ◽  
Vol 10 (3) ◽  
pp. 176
Author(s):  
Venna Laurensia ◽  
Gusti Noorrizka Veronika Achmad ◽  
Raswita Diniya ◽  
Ivonne Soeliono
Keyword(s):  
Quantitative Evaluation ◽  
Lower Order ◽  
Economic Order Quantity ◽  
Control Methods ◽  
Order Quantity ◽  
Inventory Planning ◽  
Stock Level ◽  
Pharmacy Department ◽  
Order Quantities ◽  
Maximum Minimum

Planning an inventory of antibiotics that are not good will cause problems in planning, which are over-supply of antibiotics (stagnant) and lack of antibiotic stock (stockout). In this study an quantitative evaluation of antibiotic inventory planning was carried out using the Economic Order Quantity (EOQ) and Maximum-Minimum Stock Level (MMSL) control methods in 2017 at Type A Hospital’s Pharmacy Department. The EOQ method aims to minimize the number of orders while the MMSL method is used to determine the minimum and maximum stock of antibiotics that must be ordered. The results were compared with the need for 2018 then calculations are carried out to determine the amount of stagnant and stockout antibiotics. The number of antibiotics that were stagnant by EOQ method simulation was 44.73% and by MMSL method was 48.02%, while the number of antibiotics stocked by EOQ method was 38.15% and by MMSL method was 42.76%. The category of antibiotic supplies in 2018 in real terms which was included in a stagnant state was 23.68%, stockout ie 55.26% of 152 antibiotics. Evaluation of antibiotic inventory planning using the EOQ method results in the calculation of lower order quantities while the number of orders with MMSL is higher. To find out more broadly about the evaluation of inventory planning in the hospital needed further research by taking into account all drugs not just antibiotics.

scholarly journals PENERAPAN DARI MODEL MATEMATIKA PENGENDALIAN PERSEDIAAN BARANG (INVENTORY MODEL) PADA SISTEM PRODUKSI DI PD. HANDI MEUBEL CIREBON

2017 ◽  
Vol 1 (2) ◽  
pp. 11
Author(s):  
Herri Sulaiman ◽  
Wahyu Hartono ◽  
Jajo Firman Raharjo
Keyword(s):  
Inventory Model ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Holding Cost

Penelitian ini bertujuan untuk mengetahui model pengendalian persediaan atau dikenal dengan istilah Economic Order Quantity (jumlah pemesanan ekonomis) dan dapat diterapkan pada sistem produksi di PD Handi Meubel Cirebon. Pengendalian persediaan sangat penting diterapkan oleh suatu perusahaan karena dapat meminimalkan biaya persediaan. PD Handi Meubel telah melakukan perhitungan dengan rumus umum total biaya persediaan. Lebih lanjut, peneliti mencoba memberikan model perhitungan dengan model Economic Order Quantity (EOQ) yang dapat memberikan keputusan tentang jumlah pemesanan. Hasil pengendalian persediaan pada PD Handi Meubel belum ekonomis karena besar biaya pemesanan (annual ordering cost) dan biaya penyimpanan (annual holding cost) tidak relatif sama. Hal ini menyebabkan total persediaan tidak mampu mencapai nilai minimum. Penerapan model EOQ dapat memberikan solusi kepada PD Handi Meubel karena total persediaan dari perusahaan tersebut dapat mencapai nilai minimum. Ketentuan pemesanan diperoleh dari hasil perhitungan menggunakan persamaan model EOQ yang dikenal dengan istilah Wilson Formula. Tujuan jangka panjang dari penelitian ini bagi prodi pendidikan matematika yaitu sebagai desain bahan ajar pada materi atau pokok bahasan yang ada di dalam mata kuliah Kalkulus Diferensial yang berbasis pada model pengembangan bahan ajar tertentu sehingga diharapkan dapat membantu mahasiswa dalam memahami konsep-konsep esensial yang ada di dalam mata kuliah tersebut, sehingga kebutuhan belajar mahasiswa dapat terpenuhi dengan baik. Target luaran yang diharapkan terlaksana setelah penelitian ini dilakukan yaitu mempublikasikan hasil penelitian ini melalui publikasi ilmiah, prosiding, dan pengayaan bahan ajar. Dengan demikian diharapkan hasil penelitian ini dapat bermanfaat secara luas bagi perusahaan dan mahasiswa. Metode penelitian yang digunakan adalah metode observasi dengan sistem wawancara terhadap kepala produksi di PD Handi Meubel Cirebon.

ECONOMIC ORDER QUANTITY UNDER CONDITIONS OF A ONE-TIME-ONLY EXTENDED PERMISSIBLE DELAY PERIOD IN PAYMENTS

2008 ◽  
Vol 25 (02) ◽  
pp. 267-277 ◽  
Author(s):  
SURESH KUMAR GOYAL ◽  
CHUN-TAO CHANG
Keyword(s):  
Business Environment ◽  
Delay Period ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Permissible Delay In Payments ◽  
Numerical Examples ◽  
Delay In Payments ◽  
Theoretical Results ◽  
Special Order

In today's business environment, a supplier usually offers customers a permissible delay for settling outstanding account balance for the goods supplied. However, a supplier on occasion may allow this permissible delay in payments to be more than the usual during a given specified period. In this paper, we establish an appropriate model for a customer to determine its optimal special order quantity when the supplier offers a special extended permissible delay for one time only during a specified period. We then establish two theorems for a customer to find the optimal special order quantity. Finally, several numerical examples are given to illustrate the theoretical results.

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