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

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

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OECD FORD obor

20300 - Mechanical engineering

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2022

Kód důvěrnosti údajů

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

Název periodika

Mathematics

ISSN

2227-7390

e-ISSN

2227-7390

Svazek periodika

10

Číslo periodika v rámci svazku

21

Stát vydavatele periodika

CH - Švýcarská konfederace

Počet stran výsledku

13

Strana od-do

nestrankovano

Kód UT WoS článku

000881103000001

EID výsledku v databázi Scopus

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