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    Title: Optimal payment time with deteriorating items under inflation and permissible delay in payments
    Authors: Chang, Chun-Tao;Wu, Shuo-Jye;Chen, Li-Ching
    Contributors: 淡江大學統計學系
    Keywords: Inventory;finance;delay payments;payment period;deteriorating items
    Date: 2009-10
    Issue Date: 2012-03-12 10:29:14 (UTC+8)
    Publisher: Abingdon: Taylor & Francis Ltd.
    Abstract: This article develops an inventory model under a situation in which the supplier provides the purchaser with a permissible delay of payments. Shortages are not allowed and the effect of the inflation rate, deterioration rate and delay in payment are discussed as well. As a result, in this article, we establish a mathematical model to determine the optimal payment period and replenishment cycle. Using Taylor series approximation, we characterise the optimal solution and provide an easy-to-use algorithm to find the optimal solution. Finally, the proposed models are illustrated through numerical examples and the sensitivity analysis is reported.
    Relation: International Journal of Systems Science 40(10), pp.985-993
    DOI: 10.1080/00207720902974561
    Appears in Collections:[統計學系暨研究所] 期刊論文

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