An inventory model with price and credit installments-dependent demand

• Autorzy: Hasan Md. Rakibul , Siddiqa Mst. Ayesha , Roy Tutul Chandra , Al-Amin Md. , Daryanto Yosef

Identyfikatory

DOI

10.2478/mspe-2023-0014

• Języki publikacji: EN

Abstrakty

EN

Financial capability is one of the primary drivers for buyers to make purchases. Therefore, sellers must set an optimum selling price and consider trade credit facilities to attract more demand. This paper proposes an inventory decision model in which customer demand depends on the price and number of credit installments to serve low-abled buyers. This study has developed a demand function with a positive impact on installment policies and the effect of the selling price. Two models have been formulated to optimize the selling price and positive stock time, m total profit, with and without installment policies. Then, numerical examples and sensitivity analysis illustrate the proposed model for different cases. The study has found that the selling price and positive stock time can be optimized. Profits can be higher in the case of an installment facility than in the case without an installment facility. It shows positive responses from the buyer to the installment policy.

Słowa kluczowe

EN

inventory; pricing; installment-dependent demand; trade credit

• Wydawca: STE GROUP
• Czasopismo: Management Systems in Production Engineering
• Rocznik: 2023
• Tom: nr 2 (31)
• Strony: 111--127
• Opis fizyczny: Bibliogr. 41 poz., rys., tab.

Twórcy

autor

Hasan Md. Rakibul

• Hajee Mohammad Danesh Science and Technology University Department of Mathematics Dinajpur-5200, Bangladesh
• Division of Engineering Management and Decision Sciences College of Science and Engineering Hamad Bin Khalifa University, Doha, Qatar

• https://orcid.org/0000-0001-6674-8343

autor

Siddiqa Mst. Ayesha

• Hajee Mohammad Danesh Science and Technology University Department of Mathematics Dinajpur-5200, Bangladesh

autor

Roy Tutul Chandra

• Hajee Mohammad Danesh Science and Technology University Department of Mathematics Dinajpur-5200, Bangladesh

autor

Al-Amin Md.

• Hajee Mohammad Danesh Science and Technology University Department of Mathematics Dinajpur-5200, Bangladesh

autor

Daryanto Yosef

• Department of Industrial Engineering Universitas Atma Jaya Yogyakarta, Indonesia

• https://orcid.org/0000-0001-5761-8600

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Uwagi

Opracowanie rekordu ze środków MEiN, umowa nr SONP/SP/546092/2022 w ramach programu „Społeczna odpowiedzialność nauki” - moduł: Popularyzacja nauki i promocja sportu (2022-2023).