Optimal replenishment policy for deteriorating and non-deteriorating items
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F18%3APU128289" target="_blank" >RIV/00216305:26510/18:PU128289 - isvavai.cz</a>
Result on the web
<a href="http://inzeko.ktu.lt/index.php/EE/article/view/14204" target="_blank" >http://inzeko.ktu.lt/index.php/EE/article/view/14204</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.5755/j01.ee.29.3.14204" target="_blank" >10.5755/j01.ee.29.3.14204</a>
Alternative languages
Result language
angličtina
Original language name
Optimal replenishment policy for deteriorating and non-deteriorating items
Original language description
The purpose of the paper is to present a model allowing the retailer to determine the optimal price of three kinds of items in a situation where the supplier provides the retailer with an interest-free loan for a contractually agreed period. The scientific aim is to verify whether an optimization problem is solvable, and determine the maximum length of the interval over which the goods can be sold with a profit in a situation where the model features two kinds of deteriorating items and one non deteriorating item. The economic theory is explained in the introductory section and serves as a basis for the drawing up of the model. Methods of analysis, synthesis, dynamic modeling and differential calculus of multivariate functions are also used. The situation where the dealer sells all his goods in time and the situation where this period is not observed are analyzed. Thanks to the exact expression of the model it is possible to assess the effect of any changes in external factors. Authors’ findings are that the used variables form compact set and analysed function is continues on this space, we can use Weistrass Theorem for additional calculation with success. Thanks to the exact expression of the model it is possible to assess the effect of any changes in external factors. The model proposed in the paper may be expanded in the future. One possibility is to consider a generalization of the model allowing for shortage of items, quantity discounts, inflation, etc.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
<a href="/en/project/GA16-03796S" target="_blank" >GA16-03796S: Development of new methods of solving dynamic models of corporate processes management</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Engineering Economics
ISSN
1392-2785
e-ISSN
2029-5839
Volume of the periodical
29
Issue of the periodical within the volume
2
Country of publishing house
LT - LITHUANIA
Number of pages
8
Pages from-to
272-280
UT code for WoS article
000437030900003
EID of the result in the Scopus database
2-s2.0-85051465423