scholarly journals Supply Chain with Customer-Based Two-Level Credit Policies under an Imperfect Quality Environment

Mathematics ◽  
2018 ◽  
Vol 6 (12) ◽  
pp. 299 ◽  
Author(s):  
Aditi Khanna ◽  
Aakanksha Kishore ◽  
Biswajit Sarkar ◽  
Chandra Jaggi
Keyword(s):  
Supply Chain ◽  
Trade Credit ◽  
Type I Error ◽  
Type I ◽  
Purchase Cost ◽  
Misclassification Errors ◽  
Inspection Process ◽  
Total Profit ◽  
The Impact ◽  
New Retailers

The present model develops a three-echelon supply chain, in which the manufacturer offers full permissible delay to the whole seller, while the latter, in turn, adopts distinct trade credit policies for his subsequent downstream retailers. The type of credit policy being offered to the retailers is decided on the basis of their past profiles. Hence, the whole seller puts forth full and partial permissible delays to his old and new retailers respectively. This study considers bad debts from the portion of new retailers who fail to make up for the delayed part of the partial payment. The analysis shows that it is beneficial for the whole seller to make shorter contracts, particularly with new retailers, along with the fetching of a higher fraction of initial purchase cost from them. In addition to the above-described scenario, the lot received by the whole seller from the manufacturer is not perfect, and it contains some defects for which he employs an inspection process before selling the items to the retailers. In order to make the study more realistic, Type-I, as well as Type-II misclassification errors, and the case of out-of-stock are considered. The impact of Type-I error has been found to be crucial in the study. The present paper determines the optimal policy for the whole seller by maximizing the expected total profit per unit time. For the optimality of the solution, theoretical results are provided. Finally, a numerical example and a sensitivity analysis are done to validate the model.

scholarly journals Inventory Modeling for Deteriorating Imperfect Quality Items with Selling Price Dependent Demand and Shortage Backordering under Credit Financing

2017 ◽  
Vol 2 (2) ◽  
pp. 110-124 ◽  
Author(s):  
Aditi Khanna ◽  
Prerna Gautam ◽  
Chandra K. Chandra K.
Keyword(s):  
Trade Credit ◽  
Optimal Order ◽  
Manufacturing Processes ◽  
Selling Price ◽  
Imperfect Quality ◽  
Inspection Process ◽  
Total Profit ◽  
Credit Financing ◽  
Fierce Competition ◽  
Dependent Demand

The production processes throughout the world aim at improving quality by introducing latest technologies so as to perform well in fierce competition. Despite this due to various unavoidable factors, most of the manufacturing processes end up with certain imperfections. Hence, all the items produced are not of perfect quality. The condition tends to be more susceptible while dealing with items of deteriorating quality; therefore an inspection process is must for screening good quality items from the ordered lot. Demand is assumed to be price dependent and it is represented by a constant price elasticity function. Also to endure with the rapid growth and turbulent markets, the suppliers try to engage and attract retailers through various gimmicks and one such contrivance is offering trade credit, which is proved to be an influential strategy for attracting new customers. In view of this, the present paper develops an inventory model for items of imperfect quality with deterioration under trade-credit policies with price dependent demand. Shortages are allowed and fully backlogged. A mathematical model is developed to depict this scenario. The aim of the study is to optimize the optimal order level, backorder level and selling price so as to maximize the retailer’s total profit. Findings are validated quantitatively by using numerical analysis. Sensitivity analysis is also performed so as to cater some important decision-making insights.

scholarly journals Product bundling and advertising strategy for a duopoly supply chain: a power-balance perspective

2020 ◽  
Author(s):  
Sarat Kumar Jena ◽  
Abhijeet Ghadge
Keyword(s):  
Supply Chain ◽  
Price Competition ◽  
Market Size ◽  
Power Balance ◽  
Supply Chain Network ◽  
Product Bundling ◽  
Advertising Strategy ◽  
Advertising Effort ◽  
Total Profit ◽  
The Impact

AbstractThe paper studies product bundling in a duopoly supply chain network under the influence of different power-balance structures, bundling decisions and advertising efforts on total supply chain profit. Mathematical models comprising two manufacturers and a single retailer are developed to capture the impact of bundling policy and advertisement strategy under three power-balance structures, namely Manufacturer Stackelberg, Retailer Stackelberg and Vertical Nash. Following game theory models and numerical examples, the study found that the total profit of the supply chain is undifferentiated under the manufacturer Stackelberg and Vertical Nash case in the manufacturer bundling and retailer bundling strategies. However, total supply chain profit under manufacturer bundling strongly dominates under retailer bundling in Retailer Stackelberg and Vertical Nash, and remains valid under multiple settings of market size, price elasticity and advertising elasticity. It is also found that manufacturer bundling is significantly affected by advertising effort compared to retailer bundling. The study contributes to the literature interfacing supply chain and marketing by studying bundling policy and advertising strategy simultaneously for homogenous products, under various power-balance structures and price competition.

How Does Polytomous Item Bias Affect Total-group Survey Score Comparisons?

2015 ◽  
Vol 46 (3) ◽  
pp. 586-603 ◽  
Author(s):  
Ma Dolores Hidalgo ◽  
Isabel Benítez ◽  
Jose-Luis Padilla ◽  
Juana Gómez-Benito
Keyword(s):  
Effect Size ◽  
Type I Error ◽  
Error Rates ◽  
T Test ◽  
Type I ◽  
Polytomous Items ◽  
Item Functioning ◽  
Scale Scores ◽  
Comparative Group ◽  
The Impact

The growing use of scales in survey questionnaires warrants the need to address how does polytomous differential item functioning (DIF) affect observed scale score comparisons. The aim of this study is to investigate the impact of DIF on the type I error and effect size of the independent samples t-test on the observed total scale scores. A simulation study was conducted, focusing on potential variables related to DIF in polytomous items, such as DIF pattern, sample size, magnitude, and percentage of DIF items. The results showed that DIF patterns and the number of DIF items affected the type I error rates and effect size of t-test values. The results highlighted the need to analyze DIF before making comparative group interpretations.

scholarly journals Evaluation of the Impact of Calibration of Patient-Reported Outcomes Measures on Clinical Trial Results: A Simulation Study based on Rasch Measurement Theory

2021 ◽  
Author(s):  
Angély Loubert ◽  
Antoine Regnault ◽  
Véronique Sébille ◽  
Jean-Benoit Hardouin
Keyword(s):  
Clinical Trial ◽  
Treatment Effect ◽  
Type I Error ◽  
Measurement Theory ◽  
Item Parameter ◽  
Parameter Estimates ◽  
Type I ◽  
Item Parameters ◽  
Patient Reported ◽  
The Impact

Abstract BackgroundIn the analysis of clinical trial endpoints, calibration of patient-reported outcomes (PRO) instruments ensures that resulting “scores” represent the same quantity of the measured concept between applications. Rasch measurement theory (RMT) is a psychometric approach that guarantees algebraic separation of person and item parameter estimates, allowing formal calibration of PRO instruments. In the RMT framework, calibration is performed using the item parameter estimates obtained from a previous “calibration” study. But if calibration is based on poorly estimated item parameters (e.g., because the sample size of the calibration sample was low), this may hamper the ability to detect a treatment effect, and direct estimation of item parameters from the trial data (non-calibration) may then be preferred. The objective of this simulation study was to assess the impact of calibration on the comparison of PRO results between treatment groups, using different analysis methods.MethodsPRO results were simulated following a polytomous Rasch model, for a calibration and a trial sample. Scenarios included varying sample sizes, with instrument of varying number of items and modalities, and varying item parameters distributions. Different treatment effect sizes and distributions of the two patient samples were also explored. Comparison of treatment groups was performed using different methods based on a random effect Rasch model. Calibrated and non-calibrated approaches were compared based on type-I error, power, bias, and variance of the estimates for the difference between groups.Results There was no impact of the calibration approach on type-I error, power, bias, and dispersion of the estimates. Among other findings, mistargeting between the PRO instrument and patients from the trial sample (regarding the level of measured concept) resulted in a lower power and higher position bias than appropriate targeting. ConclusionsCalibration of PROs in clinical trials does not compromise the ability to accurately assess a treatment effect and is essential to properly interpret PRO results. Given its important added value, calibration should thus always be performed when a PRO instrument is used as an endpoint in a clinical trial, in the RMT framework.

scholarly journals Inventory ordering policies for mixed sale of products under inspection policy, multiple prepayment, partial trade credit, payments linked to order quantity and full backordering

2019 ◽  
Vol 287 (1) ◽  
pp. 403-437 ◽  
Author(s):  
Ata Allah Taleizadeh ◽  
Sara Tavassoli ◽  
Arijit Bhattacharya
Keyword(s):  
Solution Method ◽  
Trade Credit ◽  
Inventory Model ◽  
Order Quantity ◽  
Partial Trade Credit ◽  
Total Profit ◽  
Inspection Policy ◽  
Ordering Policies ◽  
Classical Economic ◽  
The Impact

Abstract The situation where serviceable products are sold together with a proportion of deteriorating products to consumers is rarely discussed in the literature. This article proposes an inventory model with disparate inventory ordering policies under a situation where a portion of serviceable products and a portion of deteriorating products are sold together to consumers (i.e. mixed sales). The ordering policies consider a hybrid payment strategy with multiple prepayment and partial trade credit schemes linked to order quantity under situations where no inventory shortage is allowed and inventory shortage is allowed with full backorder. The hybrid payment policy offered by a supplier is introduced into the classical economic ordering quantity model to investigate the optimal inventory cycle and the fraction of demand that is filled from the deteriorating products under inspection policy. Further, a new solution method is proposed that identifies optimal annual total profit with mixed sales assuming no inventory shortage and inventory shortage with full backorder. The impact of an inspection policy is investigated on the optimality of the solution under hybrid payment strategies for the deteriorating products. The validation of the proposed model and its solution method is demonstrated through several numerical examples. The results indicate that the inventory model along with the solution method provide a powerful tool to the retail managers under real-world situations. Results demonstrate that it is essential for the managers to consider inclusion of an inspection policy in the mixed sales of products, as the inspection policy significantly increases the net annual profit.

Impact of FOLFOXIRI and bevacizumab (bev) compared to FOLFOX and bev on health related quality of life (HRQOL) in patients with metastatic colorectal cancer (MCRC): Analysis of the CHARTA-AIO 0209 trial.

2017 ◽  
Vol 35 (15_suppl) ◽  
pp. 3544-3544 ◽  
Author(s):  
Julia Quidde ◽  
Hans-Joachim Schmoll ◽  
Benjamin Garlipp ◽  
Christian Junghanss ◽  
Malte Leithaeuser ◽  
...  
Keyword(s):  
Quality Of Life ◽  
Type I Error ◽  
Compliance Rate ◽  
Induction Treatment ◽  
Type I ◽  
Mean Values ◽  
Deterioration Rate ◽  
Global Quality Of Life ◽  
The Impact

3544 Background: FOLFOXIRI/bev is a highly efficacious first line regimen in MCRC. Despite higher rates of neutropenia, diarrhea and stomatitis, FOLFOXIRI/bev is tolerable and feasible in MCRC patients. To date nothing is known about the impact of this regimen on HRQOL. Methods: 250 patients were randomized to FOLFOX/bev (arm A) or FOLFOXIRI/bev (arm B). HRQOL were assessed at baseline, every 8 weeks during induction treatment (6 months) and every 12 weeks during maintenance treatment, using the EORTC QLQ-C30, QLQ-CR29 and QLQ-CIPN20. The mean values of every score were calculated as the average of week 8, 16 and 24 assessment. Test concerning mean values were performed as t-test, with global type I error set at 0.05. HRQOL deterioration and improvement rates were analyzed and compared between treatment groups using chi² tests. Results: For HRQOL analysis, 237 patients were eligible (arm A: 118; arm B: 119). Compliance rate with the HRQOL questionnaires was 95.4% at baseline, 72.6% at week 8, 59.5 % at week 16 and 43.5% at week 24. Whereas mean global quality of life score (GHS/QOL) was similar between arm A and B (59.8 vs. 58.8; p = 0.726), mean scores for nausea/vomiting (9.4 vs. 16.0; p = 0.015) and diarrhea (23.7 vs. 32.1; p = 0.051) significantly or borderline significantly favored arm A during induction period. Furthermore, at week 8 scores of nausea/vomiting (9.2 versus 17.3, p = 0.006) appetite loss (19.5 vs. 29.4; p = 0.035) and financial problems (18.3 vs. 29.5; p = 0.021) and at the end of treatment physical functioning (75.0 vs. 65.8; p = 0.048) were significantly better for arm A compared to arm B. No significant differences were observed in the remaining EORTC scores. The rates of deterioration and improvement between baseline and week 8 of at least 10 points in the EORTC scores were similar (e.g. deterioration-rate GHS/QOL score 21.5% vs. 26.5% for arm A vs. B; p = 0.461). Conclusions: Although no remarkable detriment in HRQOL was noted, the better efficacy of FOLFOXIRI/bev compared to FOLFOX/bev is associated with a decrease in mainly gastrointestinal QOL scores. Further subgroup-analyses will be presented at the meeting. Clinical trial information: NCT01321957.

scholarly journals Bias, Type I Error Rates, and Statistical Power of a Latent Mediation Model in the Presence of Violations of Invariance

2017 ◽  
Vol 78 (3) ◽  
pp. 460-481 ◽  
Author(s):  
Margarita Olivera-Aguilar ◽  
Samuel H. Rikoon ◽  
Oscar Gonzalez ◽  
Yasemin Kisbu-Sakarya ◽  
David P. MacKinnon
Keyword(s):  
Measurement Invariance ◽  
Statistical Power ◽  
Type I Error ◽  
Error Rates ◽  
Parameter Estimates ◽  
Type I ◽  
Mediation Model ◽  
Type I Error Rates ◽  
Mediated Effects ◽  
The Impact

When testing a statistical mediation model, it is assumed that factorial measurement invariance holds for the mediating construct across levels of the independent variable X. The consequences of failing to address the violations of measurement invariance in mediation models are largely unknown. The purpose of the present study was to systematically examine the impact of mediator noninvariance on the Type I error rates, statistical power, and relative bias in parameter estimates of the mediated effect in the single mediator model. The results of a large simulation study indicated that, in general, the mediated effect was robust to violations of invariance in loadings. In contrast, most conditions with violations of intercept invariance exhibited severely positively biased mediated effects, Type I error rates above acceptable levels, and statistical power larger than in the invariant conditions. The implications of these results are discussed and recommendations are offered.

Optimization Decision Promotion Model of Supply Chain Networks with Logistics Speed

2014 ◽  
Vol 644-650 ◽  
pp. 6170-6173
Author(s):  
Lang Liao ◽  
Yong Hong Huang ◽  
Chang Jiang Zhao
Keyword(s):  
Supply Chain ◽  
Decision Model ◽  
Small World ◽  
Optimal Decision ◽  
Supply Chain Networks ◽  
Product Consumption ◽  
Product Pricing ◽  
Total Profit ◽  
Small World Property ◽  
The Impact

Commercial logistics speed has the dynamic characteristics of the impact on supply chain. In order to establish the relationship between logistics speed and supply chain network decision model, accurately grasp the logistics effect on supply chain decision, an optimization decision model of supply chain networks with logistics layer weighting was proposed. The whole complex network model of hierarchical supply chain was established. The product pricing and logistics strategies and optimization decision were proposed for realizing the maximum total profit. The simulation results show that the optimal decision model is shown in small world property, and it can reflect the product consumption demand reality effectively, the total profit of the whole supply chain is significantly increased compared with the traditional method, and the network system is adaptive and robust.

scholarly journals Fit Indices for Measurement Invariance Tests in the Thurstonian IRT Model

2019 ◽  
Vol 44 (4) ◽  
pp. 282-295
Author(s):  
HyeSun Lee ◽  
Weldon Z. Smith
Keyword(s):  
Measurement Invariance ◽  
Type I Error ◽  
Error Rates ◽  
Forced Choice ◽  
Model Fit ◽  
Future Research ◽  
Type I ◽  
Fit Indices ◽  
Irt Model ◽  
The Impact

This study examined whether cutoffs in fit indices suggested for traditional formats with maximum likelihood estimators can be utilized to assess model fit and to test measurement invariance when a multiple group confirmatory factor analysis was employed for the Thurstonian item response theory (IRT) model. Regarding the performance of the evaluation criteria, detection of measurement non-invariance and Type I error rates were examined. The impact of measurement non-invariance on estimated scores in the Thurstonian IRT model was also examined through accuracy and efficiency in score estimation. The fit indices used for the evaluation of model fit performed well. Among six cutoffs for changes in model fit indices, only ΔCFI > .01 and ΔNCI > .02 detected metric non-invariance when the medium magnitude of non-invariance occurred and none of the cutoffs performed well to detect scalar non-invariance. Based on the generated sampling distributions of fit index differences, this study suggested ΔCFI > .001 and ΔNCI > .004 for scalar non-invariance and ΔCFI > .007 for metric non-invariance. Considering Type I error rate control and detection rates of measurement non-invariance, ΔCFI was recommended for measurement non-invariance tests for forced-choice format data. Challenges in measurement non-invariance tests in the Thurstonian IRT model were discussed along with the direction for future research to enhance the utility of forced-choice formats in test development for cross-cultural and international settings.

scholarly journals The role of voucher sale in advance for a capital-constrained supply chain

2021 ◽  
Author(s):  
Haijun Wang ◽  
Guanmei Liu
Keyword(s):  
Supply Chain ◽  
Trade Credit ◽  
Stackelberg Game ◽  
Wholesale Price ◽  
Optimal Choice ◽  
Bank Loan ◽  
Optimal Decision ◽  
Order Quantity ◽  
Credit Financing ◽  
The Impact

This paper studies voucher sale as an operational method to raise working capital for a supply chain, which consists of a supplier and a capital-constrained retailer. The retailer takes advantage of an online platform to sell vouchers and to get access to borrowing from a bank. By formulating a Stackelberg game model, we show the retailer's possible order quantities in the cases without and with bank loan and analyze the impact of voucher sale on the retailer's optimal choice of order quantity and the supplier's optimal wholesale price. We find that a smaller voucher's price induces the retailer to be more likely to order with loan from a bank while a larger voucher's value induces an order quantity with the loan more difficult to be repaid. In addition, if voucher's price is large, the supplier decides a wholesale price which leads the retailer not to borrow from a bank; and if voucher's price is small, the supplier's optimal decision is obtained by anticipating the retailer to borrow from a bank. We also analyze the impact of voucher sale in the presence of trade credit financing on the firms' decisions. The results show that the voucher's price should be small so that the retailer can repay the supplier if voucher's value is large; otherwise, the retailer either does not borrow from the supplier or may not repay the supplier. Besides, the supplier decides a wholesale price so that the retailer does not borrow or can repay the supplier, except that the voucher's value is large and the voucher's price is medium.

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