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Optimal Ordering Policy for Deteriorating Items with Limited Storage Capacity under Two-Level Trade Credit Linked to Order Quantity by a Discounted Cash-Flow Analysis

机译:通过折扣现金流量分析将两级贸易信用条件下的变质数量有限的变质物品的最优订购策略链接到订单数量

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Nowadays, the supplier often provides cash discount or permissible delay in payments to its retailers, if the order quantity attains a certain amount. Likewise, the retailer also provides a downstream trade credit period to his customers. In practice, as the supplier provide s price discounts for bulk purchases, the retailer may purchase more goods than can be stored in its owned warehouse and store the excess quantities in a rented warehouse. Thus, a two-warehouse inventory model is needed to be considered. Further, the cost is usually affected by the present value of time and products deteriorate as time increases. Therefore, this paper develops a supplier-retailer-customer chain inventory model in which 1) two-level trade credit linked to order quantity is considered ; 2) storage capacity is limited ; 3) the effect of inflation and time value of money by a discounted cash-flow analysis is taken into account. The demand rate is linearly increasing with time and the deterioration rate is constant. Based on the viewpoint of cost minimization, the objective is to find the optimal replenishment cycle and order quantity to keep the present value of the total relevant cost per unit time as minimum as possible. The research shows that in each case discussed, the optimal solution for each case exists uniquely. Finally, numerical examples are provided for illustration and some managerial insights based on the numerical results are also presented.
机译:如今,如果订单数量达到一定数量,供应商通常会向零售商提供现金折扣或允许的付款延迟。同样,零售商还向其客户提供下游贸易信贷期。实际上,当供应商为批量购买提供价格折扣时,零售商可能会购买比其自己的仓库中存储的商品更多的商品,并将多余的数量存储在租用的仓库中。因此,需要考虑两仓库库存模型。此外,成本通常受时间的现值影响,并且产品会随着时间的增加而劣化。因此,本文建立了一种供应商-零售商-客户链库存模型,其中:1)考虑到与订单数量相关的两级贸易信用; 2)存储容量有限; 3)考虑了通货膨胀和现金流的时间价值的折现现金流分析的影响。需求率随时间线性增加,劣化率恒定。基于成本最小化的观点,目标是找到最佳的补货周期和订购数量,以使单位时间总相关成本的现值保持最小。研究表明,在每种情况下,针对每种情况的最佳解决方案都是唯一的。最后,提供了数字示例进行说明,并基于数字结果提供了一些管理上的见解。

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