Determining optimal price, replenishment lot size and number of shipments for an EPQ model with rework and multiple shipments

Taleizadeh, Ata Allah; Kalantari, Solaleh Sadat; Cárdenas–Barrón, Leopoldo Eduardo

doi:10.3934/jimo.2015.11.1059

Cited by 58 publications

(19 citation statements)

References 32 publications

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“…Chung and Liao [10] revealed the optimal ordering policy of the EOQ model under trade credit depending on the ordering quantity from the DCF approach. Many related articles can be found in [2,28,11,46,29,51,5,44,33,34,12] and their references.…”

Section: Jui-jung Liao Wei-chun Lee Kuo-nan Huang and Yung-fu Huangmentioning

confidence: 99%

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Optimal ordering policy for a two-warehouse inventory model use of two-level trade credit

Liao¹,

Lee²,

Huang³

et al. 2017

Journal of Industrial &Amp; Management Optimization

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In today's competitive markets, the supplier let the buyer to pay the purchasing cost after receiving the items, this strategy motivates the retailer to buy more items from the supplier and gains some benefit from the money which they did not pay at the time of receiving of the items. However, the retailer will be unable to pay off the debt obligations to the supplier in the future, so this study extends Yen et al. (2012) to consider the above situation and assumes the retailer can either pay off all accounts at the end of the delay period or delay incurring interest charges on the unpaid and overdue balance due to the difference between interest earned and interest charged. We will discuss the explorations of the function behaviors of the objection function to demonstrate the retailer's optimal replenishment cycle time not only exists but also is unique. Finally, numerical examples are given to illustrate the theorems and gained managerial insights. 2010 Mathematics Subject Classification. 90B05. Key words and phrases. Two warehouse, inventory, permissible delay in payments.

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Section: Jui-jung Liao Wei-chun Lee Kuo-nan Huang and Yung-fu Huangmentioning

confidence: 99%

“…It immediately follows from above discussion.2 Decision rule of the optimal replenishment cycle time T * when N < M < W D < W * . Eqs (33),(35). and(29) yield…”

mentioning

confidence: 99%

Optimal ordering policy for a two-warehouse inventory model use of two-level trade credit

Liao¹,

Lee²,

Huang³

et al. 2017

Journal of Industrial &Amp; Management Optimization

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“…Recently, Treviño-Garza et al [14] solve optimally a family of inventory models that deal with an EPQ for an integrated vendor-buyer system considering that the production system creates defective products. Taleizadeh et al [15] propose EPQ inventory model with rework of defective items when multishipment policy is used. Their inventory model determines optimally the selling price, the lot size, and the number of shipments.…”

Section: Introductionmentioning

confidence: 99%

Determining Replenishment Lot Size and Shipment Policy for an EPQ Inventory Model with Delivery and Rework

Cárdenas–Barrón

Treviño-Garza²,

Taleizadeh

et al. 2015

Mathematical Problems in Engineering

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The determination of production-shipment policies for a vendor-buyer system is dealt within this paper. The main objective is to derive the optimal replenishment lot size and shipment policy for an EPQ inventory model with multiple deliveries and rework. This inventory model contains two decision variables: the replenishment lot size and the number of deliveries. Previous researches solve this inventory model considering both variables to be continuous. However, the number of deliveries must be considered as a discrete variable. In this direction, this paper solves the inventory model considering two cases: Case 1: the replenishment lot size as a continuous variable and the number of shipments as a discrete variable and Case 2: the replenishment lot size and the number of shipments as discrete variables. The final results are two simple and easy-to-apply solution procedures to find the optimal values for the replenishment lot size and the number of deliveries for each case.

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“…The Pricing, Manufacturing and Inventory Policies for Raw Material in a Three-Level Supply Chain have been proposed by Taleizadeh and Noori-Daryan [27]. Moreover pricing, inventory, manufacturing and contract policies are considered recently by many researchers [28][29][30].…”

Section: Introduction and Literaturementioning

confidence: 99%

Pricing and inventory decisions for deteriorating products under shipment consolidation

Taleizadeh

Rasuli-Baghban

2015

International Journal of Advanced Logistics

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In this article, we consider a three-echelon supply chain including a manufacturer, a vendor and multiple retailers. That is a single-item inventory system which only produces deteriorating items with constant deteriorating rate. Demand in this chain is deterministic and price-sensitive, and lead time for replenishment is considered to be zero. The aim of this article is to determine the selling price, dispatch cycle length and replenishment quantity such that the total profit is maximized. In order to reduce transportation costs we use a kind of shipment group dispatching policy (time-based consolidation policy) in which shipments are consolidated to decrease the total costs. At the end, we present a numerical example to show the applicability of developed model and proposed solution method.

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Determining optimal price, replenishment lot size and number of shipments for an EPQ model with rework and multiple shipments

Cited by 58 publications

References 32 publications

Optimal ordering policy for a two-warehouse inventory model use of two-level trade credit

Optimal ordering policy for a two-warehouse inventory model use of two-level trade credit

Determining Replenishment Lot Size and Shipment Policy for an EPQ Inventory Model with Delivery and Rework

Pricing and inventory decisions for deteriorating products under shipment consolidation

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