A Model to Determine the Optimal Economic Order Quantity based on Defective Rate and Credit Trading
Subject Areas :
Industrial Management
Mostafa Javidi Moshfeghien
1
,
Hamed Kazemipour
2
,
Ali Taghizadeh Herat
3
1 - MS, Department of Industrial Engineering, Parand Branch, Islamic Azad University, Parand, Iran
2 - Assistant Professor, Department of Industrial Engineering, Central Tehran Branch, Islamic Azad University, Tehran, Iran
3 - Assistant Professor, Department of Industrial Engineering, Parand Branch, Islamic Azad University, Parand, Iran
Received: 2016-05-04
Accepted : 2017-04-17
Published : 2017-05-22
Keywords:
References:
Emery, GW. (1987). An optimal financial response to variable demand. Journal Finance Quant Anal, 22, 209–225.
Chen, S. C., Cárdenas-Barron, L. E., & Teng, J. T. (2014). Retailer’s economic order quantity when the supplier offers conditionally permissible delay in payments link to order quantity. International Journal of Production Economics, 155, 284-291.
Harris, F.W. (1913). How many parts to make at once. Factory. The Magazine of Management, 10, 135–136 and 152.
Goyal, SK. (1985). Economic order quantity under conditions of permissible delay in payments. Journal Operation Research Society, 36, 335–339.
Aggarwal, SP, Jaggi, CK. (1995). Ordering policies of deteriorating items under permissible delay in payments. Journal Operation ResearchSociety, 46, 658–662.
Chang, CT, Ouyang, LY, Teng, JT. (2003). An EOQ model for deteriorating items under supplier credits linked to ordering quantity. Applied Math Model, 27, 983–996.
Chang, CT. (2004). An EOQ model with deteriorating items under inflation when supplier credits linked to order quantity. International Journal of Production Economics 88, 307–316.
Huang, YF. (2007). Economic order quantity under conditionally permissible delay in payments. European Journal Operation Research, 176, 911–924.
Teng JT. (2009). Optimal ordering policies for a retailer who offers distinct trade credits to its good and bad credit customers. International Journal Production Economics, 119, 415–423.
Chang C.T., Teng, J.T., Chern, M.S. (2010). Optimal manufacturer's replenishment policies for deteriorating items in a supply chain with up-stream and down-stream trade credits. International Journal of Production Economics, 127, 197–202.
Guchhait P., Maiti, M. K., & Maiti, M. (2015). An EOQ model of deteriorating item in imprecise environment with dynamic deterioration and credit linked demand. Applied Mathematical Modelling.
Shah, N. H., & Cárdenas-Barron, L. E. (2015). Retailer’s decision for ordering and credit policies for deteriorating items when a supplier offers order-linked credit period or cash discount. Applied Mathematics and Computation, 259, 569-578.
Wu J., Skouri, K., Teng, J. T., & Ouyang, L. Y. (2014). A note on “optimal replenishment policies for non-instantaneous deteriorating items with price and stock sensitive demand under permissible delay in payment”. International Journal of Production Economics, 155, 324-329.
Soni, H. N. (2013). Optimal replenishment policies for non-instantaneous deteriorating items with price and stock sensitive demand under permissible delay in payment. International Journal of Production Economics, 146(1), 259-268.
Porteus, EL. (1986). Optimal lot sizing, process quality improvement and setup cost reduction. Operation Research, 34,137–144.
Rosenblatt, MJ, Lee, HL (1986). Economic production cycles with imperfect production processes. IIE Trans, 18, 48–55.
Teng, J.T., Lou, K.R. (2012). Seller's optimal credit period and replenishment time in a supply chain with up-stream and down-stream trade credits. Journal of Global Optimization, 53, 417–430.
Kreng, V.B., Tan, S.J. (2011). Optimal replenishment decision in an EPQ model with defective items under supply chain trade credit policy. Expert Systems with Applications 38, 9888–9899.
Lin, Y.J., Ouyang, L.Y., Dang, Y.F. (2012). A joint optimal ordering and delivery policy for an integrated supplier–retailer inventory model with trade credit and defective items. Applied Mathematics and Computation, 218 (14), 7498–7514.
Jaggi, C.K., Goel, S.K., Mittal, M. (2013). Credit financing in economic ordering policies for defective items with allowable shortages. Applied Mathematics and Computation, 219 (10), 5268–5282.
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Emery, GW. (1987). An optimal financial response to variable demand. Journal Finance Quant Anal, 22, 209–225.
Chen, S. C., Cárdenas-Barron, L. E., & Teng, J. T. (2014). Retailer’s economic order quantity when the supplier offers conditionally permissible delay in payments link to order quantity. International Journal of Production Economics, 155, 284-291.
Harris, F.W. (1913). How many parts to make at once. Factory. The Magazine of Management, 10, 135–136 and 152.
Goyal, SK. (1985). Economic order quantity under conditions of permissible delay in payments. Journal Operation Research Society, 36, 335–339.
Aggarwal, SP, Jaggi, CK. (1995). Ordering policies of deteriorating items under permissible delay in payments. Journal Operation ResearchSociety, 46, 658–662.
Chang, CT, Ouyang, LY, Teng, JT. (2003). An EOQ model for deteriorating items under supplier credits linked to ordering quantity. Applied Math Model, 27, 983–996.
Chang, CT. (2004). An EOQ model with deteriorating items under inflation when supplier credits linked to order quantity. International Journal of Production Economics 88, 307–316.
Huang, YF. (2007). Economic order quantity under conditionally permissible delay in payments. European Journal Operation Research, 176, 911–924.
Teng JT. (2009). Optimal ordering policies for a retailer who offers distinct trade credits to its good and bad credit customers. International Journal Production Economics, 119, 415–423.
Chang C.T., Teng, J.T., Chern, M.S. (2010). Optimal manufacturer's replenishment policies for deteriorating items in a supply chain with up-stream and down-stream trade credits. International Journal of Production Economics, 127, 197–202.
Guchhait P., Maiti, M. K., & Maiti, M. (2015). An EOQ model of deteriorating item in imprecise environment with dynamic deterioration and credit linked demand. Applied Mathematical Modelling.
Shah, N. H., & Cárdenas-Barron, L. E. (2015). Retailer’s decision for ordering and credit policies for deteriorating items when a supplier offers order-linked credit period or cash discount. Applied Mathematics and Computation, 259, 569-578.
Wu J., Skouri, K., Teng, J. T., & Ouyang, L. Y. (2014). A note on “optimal replenishment policies for non-instantaneous deteriorating items with price and stock sensitive demand under permissible delay in payment”. International Journal of Production Economics, 155, 324-329.
Soni, H. N. (2013). Optimal replenishment policies for non-instantaneous deteriorating items with price and stock sensitive demand under permissible delay in payment. International Journal of Production Economics, 146(1), 259-268.
Porteus, EL. (1986). Optimal lot sizing, process quality improvement and setup cost reduction. Operation Research, 34,137–144.
Rosenblatt, MJ, Lee, HL (1986). Economic production cycles with imperfect production processes. IIE Trans, 18, 48–55.
Teng, J.T., Lou, K.R. (2012). Seller's optimal credit period and replenishment time in a supply chain with up-stream and down-stream trade credits. Journal of Global Optimization, 53, 417–430.
Kreng, V.B., Tan, S.J. (2011). Optimal replenishment decision in an EPQ model with defective items under supply chain trade credit policy. Expert Systems with Applications 38, 9888–9899.
Lin, Y.J., Ouyang, L.Y., Dang, Y.F. (2012). A joint optimal ordering and delivery policy for an integrated supplier–retailer inventory model with trade credit and defective items. Applied Mathematics and Computation, 218 (14), 7498–7514.
Jaggi, C.K., Goel, S.K., Mittal, M. (2013). Credit financing in economic ordering policies for defective items with allowable shortages. Applied Mathematics and Computation, 219 (10), 5268–5282.
