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.

scholarly journals Mathematical analytic techniques for determining the optimal ordering strategy for the retailer under the permitted trade-credit policy of two levels in a supply chain system

Filomat ◽  
2018 ◽  
Vol 32 (12) ◽  
pp. 4195-4207 ◽  
Author(s):  
Jui-Jung Liao ◽  
Kuo-Nan Huang ◽  
Kun-Jen Chung ◽  
Shy-Der Lin ◽  
Pin-Shou Ting ◽  
...  
Keyword(s):  
Trade Credit ◽  
Real Life ◽  
Optimal Solution ◽  
Credit Policy ◽  
Supply Chain System ◽  
Credit Period ◽  
Sales Revenue ◽  
Replenishment Policy ◽  
Optimal Ordering ◽  
Theoretical Results

In this article, we explore a certain kind of two-level trade credit in order to reflect the real-life situations. With this objective in view, we consider the case when the supplier offers two-level trade credit for the retailer for settling the account. If the retailer pays off all accounts at the end of the first credit period, then he/she can utilize the sales revenue to earn interest until the inventory cycle time. On the other hand, if the retailer cannot pay off the unpaid balance at the end of the first credit period, then he/she can decide to pay off the unpaid balance either after the end of the first credit period or after the second credit period. Here, in this situation, the retailer reduces the financed loan from constant sales and revenue received gradually and he/she still can utilize the sales revenue to earn interest when he/she pays off all accounts. Maximizing the profit is used as the objective to develop the inventory model. Based upon the obtained properties of the optimal solution, two theorems are developed to determine the optimal replenishment policy. Finally, computational developments are presented in order to illustrate numerically the main theoretical results which are proven in this article by using some mathematical solution procedures.

scholarly journals PARTIAL BACKORDERING INVENTORY MODEL WITH LIMITED STORAGE CAPACITY UNDER ORDER-SIZE DEPENDENT TRADE CREDIT

2021 ◽  
Vol 0 (0) ◽  
pp. 1-32
Author(s):  
Wen-Hui Jiang ◽  
Ling Xu ◽  
Zhen-Song Chen ◽  
Witold Pedrycz ◽  
Kwai-Sang Chin
Keyword(s):  
Trade Credit ◽  
Storage Capacity ◽  
Optimal Solution ◽  
Capacity Constraints ◽  
Inventory Model ◽  
Optimal Order ◽  
Model Parameters ◽  
Order Quantity ◽  
Size Dependent ◽  
Partial Backordering

This study formulates an inventory model with limited storage capacity under the condition of order-size dependent trade credit. Shortages are allowed and partially backlogged. The objective of this study is to determine the optimal replenishment cycle length, the optimal fraction of no shortage, and whether retailers should choose to rent an extra warehouse to store more items, such that retailers’ total annual profit is maximized. We prove the global optimally of objective functions and derive the closed-form optimal solution. Some numerical examples are presented to illustrate the applicability of the proposed model. Sensitivity analysis is carried out and managerial insights are obtained. We find that if retailers’ own warehouse capacity is relatively small, they always benefit from enlarging order quantity and renting an extra warehouse; meanwhile, suppliers further prolong the credit period is beneficial for both parties. On the contrary, as retailers’ own warehouse capacity increases and exceeds the optimal order quantity under that of without capacity constraints, adopting the same replenishment strategy as that without capacity constraints is profitable for retailers. Our results also reveal that other model parameters (e.g., ordering cost, inventory holding cost, shortages cost, backordering rate, etc.) have a significant impact on retailers’ optimal decisions.

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>

scholarly journals EOQ Model for Deteriorating Items with Stock-Level-Dependent Demand Rate and Order-Quantity-Dependent Trade Credit

2014 ◽  
Vol 2014 ◽  
pp. 1-14 ◽  
Author(s):  
Jie Min ◽  
Jian Ou ◽  
Yuan-Guang Zhong ◽  
Xin-Bao Liu
Keyword(s):  
Trade Credit ◽  
Sufficient Conditions ◽  
Optimal Solution ◽  
Deteriorating Items ◽  
Order Quantity ◽  
Eoq Model ◽  
Demand Rate ◽  
Delay In Payments ◽  
Dependent Demand Rate ◽  
Dependent Demand

This paper develops a generalized inventory model for exponentially deteriorating items with current-stock-dependent demand rate and permissible delay in payments. In the model, the payment for the item must be made immediately if the order quantity is less than the predetermined quantity; otherwise, a fixed trade credit period is permitted. The maximization of the average profit per unit of time is taken as the inventory system’s objective. The necessary and sufficient conditions and some properties of the optimal solution to the model are developed. Simple solution procedures are proposed to efficiently determine the optimal ordering policies of the considered problem. Numerical example is also presented to illustrate the solution procedures obtained.

scholarly journals Autonomous Navigation of a Team of Unmanned Surface Vehicles for Intercepting Intruders on a Region Boundary

Sensors ◽  
2021 ◽  
Vol 21 (1) ◽  
pp. 297
Author(s):  
Ali Marzoughi ◽  
Andrey V. Savkin
Keyword(s):  
Motion Control ◽  
Autonomous Vehicles ◽  
Autonomous Navigation ◽  
Control Algorithm ◽  
Autonomous Vehicle ◽  
Sufficient Conditions ◽  
Real Life ◽  
Unmanned Surface Vehicles ◽  
Necessary And Sufficient ◽  
See Region

We study problems of intercepting single and multiple invasive intruders on a boundary of a planar region by employing a team of autonomous unmanned surface vehicles. First, the problem of intercepting a single intruder has been studied and then the proposed strategy has been applied to intercepting multiple intruders on the region boundary. Based on the proposed decentralised motion control algorithm and decision making strategy, each autonomous vehicle intercepts any intruder, which tends to leave the region by detecting the most vulnerable point of the boundary. An efficient and simple mathematical rules based control algorithm for navigating the autonomous vehicles on the boundary of the see region is developed. The proposed algorithm is computationally simple and easily implementable in real life intruder interception applications. In this paper, we obtain necessary and sufficient conditions for the existence of a real-time solution to the considered problem of intruder interception. The effectiveness of the proposed method is confirmed by computer simulations with both single and multiple intruders.

AN EOQ MODEL WITH LIMITED STORAGE CAPACITY UNDER TRADE CREDITS

2007 ◽  
Vol 24 (04) ◽  
pp. 575-592 ◽  
Author(s):  
LIANG-YUH OUYANG ◽  
KUN-SHAN WU ◽  
CHIH-TE YANG
Keyword(s):  
Storage Capacity ◽  
Optimal Solution ◽  
Inventory Systems ◽  
Simple Method ◽  
Eoq Model ◽  
Trade Credits ◽  
Cash Discount ◽  
Delay In Payments ◽  
Classical Economic ◽  
Theoretical Results

In the classical economic order quantity (EOQ) inventory model, it was assumed that the retailer must pay for the received items immediately. However, in practice, the supplier not only allows retailer to settle the account after a certain fixed period but also may offer a cash discount to encourage the retailer to pay for his purchases as soon as possible. On the other hand, it is common practice in most inventory systems to hold excess stocks in a rented warehouse whenever the storage capacity of the owned warehouse is insufficient. Therefore, the purpose of this paper is to establish an EOQ model with limited storage capacity, in which the supplier provides cash discount and permissible delay in payments for the retailer. In the model, we develop some useful theorems to characterize the optimal solution and provide a simple method to find the optimal replenishment cycle time and payment time. Finally, several numerical examples are given to illustrate the theoretical results and some managerial insights are also obtained.

Dynamical Behaviors of a Fractional-Order Predator–Prey Model with Holling Type IV Functional Response and Its Discretization

2019 ◽  
Vol 20 (2) ◽  
pp. 125-136
Author(s):  
A. M. Yousef ◽  
S. Z. Rida ◽  
Y. Gh. Gouda ◽  
A. S. Zaki
Keyword(s):  
Functional Response ◽  
Fractional Order ◽  
Sufficient Conditions ◽  
Predator Prey ◽  
Predator Prey Model ◽  
Type Iv ◽  
Dynamical Behaviors ◽  
The Stability ◽  
Necessary And Sufficient ◽  
Theoretical Results

AbstractIn this paper, we investigate the dynamical behaviors of a fractional-order predator–prey with Holling type IV functional response and its discretized counterpart. First, we seek the local stability of equilibria for the fractional-order model. Also, the necessary and sufficient conditions of the stability of the discretized model are achieved. Bifurcation types (include transcritical, flip and Neimark–Sacker) and chaos are discussed in the discretized system. Finally, numerical simulations are executed to assure the validity of the obtained theoretical results.

Multiconsensus of first-order multiagent systems with directed topologies

2020 ◽  
Vol 34 (23) ◽  
pp. 2050240
Author(s):  
Xiao-Wen Zhao ◽  
Guangsong Han ◽  
Qiang Lai ◽  
Dandan Yue
Keyword(s):  
Multiagent Systems ◽  
Matrix Theory ◽  
Sufficient Conditions ◽  
Consensus Problem ◽  
Multiple Agents ◽  
First Order ◽  
The Matrix ◽  
Directed Topologies ◽  
Necessary And Sufficient ◽  
Theoretical Results

The multiconsensus problem of first-order multiagent systems with directed topologies is studied. A novel consensus problem is introduced in multiagent systems — multiconsensus. The states of multiple agents in each subnetwork asymptotically converge to an individual consistent value in the presence of information exchanges among subnetworks. Linear multiconsensus protocols are proposed to solve the multiconsensus problem, and the matrix corresponding to the protocol is designed. Necessary and sufficient conditions are derived based on matrix theory, under which the stationary multiconsensus and dynamic multiconsensus can be reached. Simulations are provided to demonstrate the effectiveness of the theoretical results.

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