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Inventory models and trade credit: a review

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Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This article reviews the literature on quantitatively oriented approaches for determining the optimal lot-size when supplier offers credit period to the retailer to settle their account. An attempt is made to provide an up-to-date review of existing literature, concentrating on descriptions of the types of problems that have been solved and important structural results.
Rocznik
Strony
867--882
Opis fizyczny
Bibliogr. 84 poz.
Twórcy
autor
autor
autor
  • Chimanbhai Patel Post Graduate Institute of Computer Applications, Ahmedabad - 380051 Gujarat, India, nitahshah@gmail.com
Bibliografia
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  • ARCELUS, F.J. and SRINIVASAN, G. (1993) Delay of payments for extra ordinary purchases. Journal of Operational Research Society, 44, 785-795.
  • ARCELUS, F.J., SHAH, NITA H. and SRINIVASAN, G. (2001) Retailer’s response to special sales: price discount vs. trade credit. OMEGA, 29 (5), 417-428.
  • ARCELUS, F.J., SHAH, NITA H. and SRINIVASAN, G. (2003) Retailer’s pricing, credit and inventory policies for deteriorating items in response to temporary price / credit incentives. International Journal of Production Economics, 81-82, 153-162.
  • CARLSON, M.L. and ROUSSEAU, J.J. (1989) EOQ under Date-Terms Supplier Credit. Journal of the Operational Research Society, 40 (5), 451-460.
  • CARLSON, M.L., MILTENBURG, J. and ROUSSEAU, J.J. (1996) Economic Order Quantity and Quantity Discounts under Date-Terms Supplier Credit: A Discounted Cash Flow Approach. Journal of the Operational Research Society, 47 (3), 384-394.
  • CHANG, C.T. (2004) An EOQ model with deteriorating items under inflation when supplier credits linked to order quantity. International Journal of Production Economics, 88 (3), 307-316.
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  • CHUNG, H.J., HUNG, C.H., and DYE, C.Y. (2001) An inventory model for deteriorating items with linear trend demand under the condition of permissible delay in payments. Production Planning and Control, 12, 274-82.
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  • GOR, RAVI and SHAH, NITA H. (2003) An order - level lot - size model with time dependent deterioration and permissible delay in payments. Advances and Applications in Statistics, 3 (2), 159-172.
  • GOR, RAVI and SHAH, NITA H. (2005) An EOQ model for deteriorating items with two parameters Weibull distribution deterioration under supplier credits. Journal of Mathematics and Systems Sciences, 1 (1), 2-18.
  • GOYAL, S.K. (1985) Economic order quantity under conditions of permissible delay in payments. Journal of Operational Research Society, 36, 335-338.
  • GOYAL, S.K. and GIRI, B.C. (2001) Recent trends in modeling of deteriorating inventory. European Journal of Operational Research, 134, 1-16.
  • HALEY, C.W. and HIGGINS, R.C. (1973) Inventory policy and trade credit financing. Management Science, 20, 464-471.
  • HUANG, Y.F. (2003) Optimal retailer’s ordering policies in the EOQ model under trade credit financing. Journal of the Operational Research Society, 54, 1011-1015.
  • HUANG, Y.F. (2006) An inventory model under two levels of trade credit and limited storage space derived without derivatives. Applied Mathematical Modelling, 30 (5), 418-436.
  • HUANG, Y.F. (2007) Optimal retailer’s replenishment decisions in the EPQ model under two levels of trade credit policy. European Journal of Operational Research, 176 (2), 911-924.
  • HWANG, H. and SHINN, S.W. (1997) Retailer’s pricing and lot - sizing policy for exponentially deteriorating products under the conditions of permissible delay in payments. Computers and Operations Research, 24, 539-547.
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  • JAMAL, A.M., SARKER, B.R. and WANG, S. (1997) An ordering policy for deteriorating items with allowable shortages and permissible delay in payment, Journal of Operational Research Society, 48, 826-833.
  • JAMAL, A.M.M., SARKER, B.R. and WANG, S. (2000) Optimal payment time for a retailer under permitted delay of payment by the wholesaler. International Journal of Production Economics, 66 (1), 59-66.
  • KHOUJA, M. and MEHREZ, A. (1996) Optimal inventory policy under different supplier credit policies. Journal of Manufacturing Systems, 15, 334-339.
  • LIAO, J.J. (2007) On an EPQ model for deteriorating items under permissible delay in payments. Applied Mathematical Modeling, 31, 393-403.
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  • MANDAL, B.N. and PHAUJDAR, S. (1989a) Some EOQ models under permissible delay in payments. International Journal of Management and Systems, 5 (2), 99-108.
  • MANDAL, B.N. and PHAUJDAR, S. (1989b) An inventory model for deteriorating items and stock dependent consumption rate. Journal of Operational Research Society, 40, 483-488.
  • MEHTA, D. (1968) The Formulation of Credit Policy Models. Management Science, 15 (2), B30-B50.
  • OUYANG, L.Y., CHANG, C.T. and TENG, J.T. (2005a) An EOQ model for deteriorating items under trade credits. Journal of the Operational Research Society, 56, 719-726.
  • OUYANG, L.Y., HO, C.H. and SU, C.H. (2005b) Optimal strategy for the integrated vendor-buyer inventory model with adjustable production rate and trade credit. International Journal of Information and Management Sciences, 16, 19-37.
  • OUYANG, L.Y., WU, K.S. and YANG, C.T. (2007) An EOQ model with limited storage capacity under trade credits. Asia-Pacific Journal of Operational Research, 24 (4), 575-592.
  • OUYANG, L.Y., TENG, J.T., CHUANG, K.W. and CHUANG, B.R. (2005) Optimal inventory policy with non instantaneous receipt under trade credit. International Journal of Production Economics, 98 (3), 290-300.
  • RAAFAT, F. (1991) Survey of literature on continuously deteriorating inventory model. Journal of the Operational Research Society, 42, 27-37.
  • RACHAMADUGU, R. (1989) Effect of delayed payments (trade credit) on order quantities. Journal of Operations Research Society, 40 (9), 805-813.
  • ROBB, D.J. and SILVER, E.A. (2006a) Inventory management under date -terms supplier trade credit with stochastic demand and leadtime. Journal of the Operational Research Society, 57, 692-702.
  • ROBB, D.J. and SILVER, E.A. (2006b) Erratum: Inventory management under date - terms supplier trade credit with stochastic demand and lead-time. Journal of the Operational Research Society, 57, 755.
  • SALAMEH, M.K., ABBOUD, N.E., EL-KASSAR, A.N. and GHATTAS, R.E. (2003) Continuous review inventory model with delay in payments. International Journal of Production Economics, 85 (1), 91-95.
  • SARKER, B.R., JAMAL, A.M., WANG, S. (2000) Optimal payment time for a retailer under permitted delay of payment by the wholesaler. International Journal of Production Economics, 66 (1), 59-66.
  • SARKER, B.R., JAMAL, A.M., WANG, S. (2001) Optimal payment time under permissible delay for production with deterioration. Production planning & Control, 11, 380-390.
  • SHAH, NITA H. (1993a) A lot - size model for exponentially decaying inventory when delay in payments is permissible. Cahiers du Centre D’ Etudes de Recherche Operationnelle; Operations Research, Statistics and Applied Mathematics, 35, 1-9.
  • SHAH, NITA H. (1993b) A probabilistic order level system when delay in payments is permissible. Journal of the Korean Operations Research and Management Science, 18 (2), 175-183.
  • SHAH, NITA H. (1993c) Probabilistic time scheduling model for exponentially decaying inventory when delay in payments is permissible. International Journal of Production Economics, 32, 77-82.
  • SHAH, NITA H. (2004) Probabilistic Order Level system when items in inventory deteriorate and delay in payments is permissible. Asia - Pacific Journal of Operational Research, Singapore, 21 (3), 319-331.
  • SHAH, NITA H. (2006) Inventory model for deteriorating items and time value of money for a finite time horizon under the permissible delay in payments. International Journal of Systems Science, 37 (1), 9-15.
  • SHAH, NITA H. and SHAH, Y.K. (1992) A probabilistic order level system when delay in payments is permissible. Presented at Operational Research Society of India - 25, December, IIM Ahmedabad, India.
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  • SHAH, NITA H. and SHAH, Y.K. (2000) Literature survey on inventory model for deteriorating items. Economic Annals (Yugoslavia), XLIV, 221-237.
  • SHAH, NITA H. and TRIVEDI, C.J. (2005) An EOQ model for deteriorating items under permissible delay in payments when supply is random. Revista Investigacion Operacional (CUBA), 26 (2), 157-168.
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  • SHAH, NITA H., SHAH, B.J. and SHAH, Y.K. (2004) An Order-Level Lot-Size model with stock dependent demand for time dependent deterioration under permissible delay in payments. Far East Journal of Theoretical Statistics, 12 (2), 201-220.
  • SHAH, V.R., PATEL, H.C. and SHAH, Y.K. (1988) Economic ordering quantity when delay in payments of order and shortages are permitted. Gujarat Statistical Review, 15 (2), 51-56.
  • SHINN, S.W. (1997) Determining optimal retail price and lot size under dayterms supplier credit. Computers & Industrial Engineering, 33 (3-4), 717-720.
  • SHINN, S.W. and HWANG, H. (2003) Retailer’s pricing and lot sizing policy for exponentially deteriorating products under the condition of permissible delay in payments. Computers and Industrial Engineering, 24 (6), 539-547.
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  • TENG, J.T. (2002) On economic order quantity under conditions of permissible delay in payments. Journal of Operational Research Society, 53, 915-918.
  • TENG, J.T., CHANG, C.T. and GOYAL, S.K. (2005) Optimal pricing and ordering policy under permissible delay in payments. International Journal of Production Economics, 97 (2), 121-129.
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Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-article-BAT5-0055-0034
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