Retailer’s Ordering and Discounting Policies Under Advance Sales Discount and Trade Credit Based on Sharia

2012 ◽  
Vol 59 (2) ◽  
Author(s):  
Chairul Saleh ◽  
Achmad Chairdino Leuveano ◽  
Reny Lagaida ◽  
Md. Razali Muhammad
Keyword(s):  
Mathematical Model ◽  
Cycle Time ◽  
Trade Credit ◽  
Price Discount ◽  
Inventory Cost ◽  
Conventional Model ◽  
Credit Period ◽  
Model Based ◽  
Advance Sales ◽  
Replenishment Cycle

The use of conventional model to minimize the inventory cost creates a disturbance between the sellers and buyers. It creates a usury since the payment conducts to interest paid and interest earned. In this paper, sharia principle is implemented, that is Bai Al Istishna which allows credit period and margin agreement as the payment. The model is engaged to replenishment cycle time and price discount policy to attract the customer’s demand which based on sharia principle. This paper provides a useful mathematical model based on sharia principles in order to usury/interest can be eliminated in the trading process.

scholarly journals A Lot-Size Model for Deteriorating Items under Conditions of a One-Time Only Extended Credit Period

2010 ◽  
Vol 2010 ◽  
pp. 1-9 ◽  
Author(s):  
Nita H. Shah
Keyword(s):  
Mathematical Model ◽  
Cycle Time ◽  
Deteriorating Items ◽  
Special Period ◽  
Lot Size ◽  
Credit Period ◽  
Size Model ◽  
The Mathematical Model ◽  
Special Cycle ◽  
Theoretical Results

Now-a-days, the offer of credit period to the customer for settling the account for the units purchased by the supplier is considered to be the most beneficial policy. In this article, an attempt is made to formulate the mathematical model for a customer to determine optimal special cycle time when the supplier offers the special extended credit period for one time only during a special period. A decision policy for a retailer is developed to find optimal special cycle time. The theoretical results and effects of various parameters are studied by appropriate dataset.

scholarly journals Advance sustainable inventory management through advertisement and trade-credit policy

2020 ◽  
Author(s):  
Buddhadev Mandal ◽  
Bikash Koli Dey ◽  
Sudhansu Khanra ◽  
Biswajit Sarkar
Keyword(s):  
Inventory Management ◽  
Cycle Time ◽  
Trade Credit ◽  
Main Concern ◽  
Total System ◽  
Global Optimality ◽  
Credit Policy ◽  
Numerical Illustration ◽  
Credit Period ◽  
Advanced System

The concept of advanced sustainable inventory manage- ment, where demand pattern stock level and advertising dependent under trade-credit policy is taking account in this present study. Opti- mal credit period and cycle time are the main objective of this advanced system. A developed solution methodology is derived to show the exis- tence of global optimality under optimum credit period and cycle time. The main concern of this advanced system is to maximize the annual total system pro t of retailer with nite replenishment rate. Numerical illustration are carry forward for di erent cases to prove the stainabil- ity along with real impact of this model. Sensitive analysis for the key parameters is discussed in sensitivity analysis section along with some real \managerial insights".

An Improved Mathematical Model of Resin Concrete and the Study of its Thermal Stability

2013 ◽  
Vol 770 ◽  
pp. 391-395
Author(s):  
Shuang Qiu ◽  
Yu Guo Wang ◽  
Bin Lin ◽  
Kun Zhao ◽  
Zi Cai Jin
Keyword(s):  
Mathematical Model ◽  
Thermal Stability ◽  
3D Model ◽  
Conventional Model ◽  
Research Results ◽  
Model Based ◽  
Improved Model ◽  
Thermal Stability Of ◽  
2D Model

An improved model with polygonal aggregates is proposed to analyze the thermal stability of the resin concrete in this paper. A 2D polygonal aggregates model is established to make the calculating results closer to the reality and the 2D model is the slice directly captured from the 3D model based on the predecessors theory. A comparison is made between the conventional model with spherical aggregates and the polygonal aggregates model in this paper. The results of the analysis on the improved model are closer to the previous research results and more accurate than the spherical aggregates model. It confirms that the polygonal aggregates model is accurate enough to analyze the properties of the resin concrete.

scholarly journals Mathematical Modeling of a Supply Chain with Imperfect Transport and Two-Echelon Trade Credits

2013 ◽  
Vol 2013 ◽  
pp. 1-7
Author(s):  
A. Thangam
Keyword(s):  
Mathematical Modeling ◽  
Mathematical Model ◽  
Supply Chain ◽  
Trade Credit ◽  
Delay Period ◽  
Credit Period ◽  
Numerical Examples ◽  
Proposed Model ◽  
Replenishment Policy ◽  
Trade Credits

Although a smoothly running supply chain is ideal, the reality is to deal with imperfectness in transportations. This paper tries to propose a mathematical model for a supply chain under the effect of unexpected disruptions in transport. Supplier offers the retailer a trade credit period and the retailer in turn offers his customers a permissible delay period. The retailer offers his customers a credit period and he receives the revenue from to , where is the cycle time at the retailer. Under this situation, the three cases such as , , and are discussed. An EPQ-based model is established and retailer's optimal replenishment policy is obtained through mathematical theorems. Finally, numerical examples and sensitivity analysis are presented to felicitate the proposed model.

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