Effect of Inflation and Permitted Three-Slot Payment on Two-Warehouse Inventory System with Stock-Dependent Demand and Partial Backlogging

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27230%2F22%3A10250693" target="_blank" >RIV/61989100:27230/22:10250693 - isvavai.cz</a>

Result on the web

<a href="https://www.webofscience.com/wos/woscc/full-record/WOS:000881103000001" target="_blank" >https://www.webofscience.com/wos/woscc/full-record/WOS:000881103000001</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3390/math10213943" target="_blank" >10.3390/math10213943</a>

Result language

angličtina

Original language name

Effect of Inflation and Permitted Three-Slot Payment on Two-Warehouse Inventory System with Stock-Dependent Demand and Partial Backlogging

Original language description

This study examines the effect of monetary inflation for a two-warehouse single-product inventory system, in which items are stored in a limited capacity Own Warehouse (OW) and an unlimited capacity Rental Warehouse (RW). Demand for an item is considered stock dependent. Items may deteriorate at a different constant rate in both warehouses. Shortages are allowed in the stock-out period and are partially backlogged and satisfied in the next replenishment point. The supplier permits flexible payment options for the retailer to pay the amount in three equal payments at different time points. The retailers&apos; preferred payment option is as follows: the first payment is prior to the replenishment point with some discount; the second payment is one-third of the total purchasing cost, which is paid at the time of the replenishment epoch; and the third payment is after the replenishment point and before the start of the next cycle, with some penalty. The influence of inflation on the cost calculation is considered, and an analytic expression for optimal minimal cost is explicitly derived from this. We performed arrived sensitivity analysis to discern the effects of the inflation and backlogging rates, as well as the effects of the discount rate on purchasing cost, and the effects of penalties upon the late payment of purchasing costs in optimizing the total cost.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

20300 - Mechanical engineering

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2022

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Mathematics

ISSN

2227-7390

e-ISSN

2227-7390

Volume of the periodical

10

Issue of the periodical within the volume

21

Country of publishing house

CH - SWITZERLAND

Number of pages

13

Pages from-to

nestrankovano

UT code for WoS article

000881103000001

EID of the result in the Scopus database

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