This paper deals with two warehouse inventory model of determining the optimal replenishment policy for non-instantaneous deteriorating items partial backlogging and stock-dependent demand. In the model, shortages are allowed and the backlogging rate is variable and dependent on the waiting time for the next replenishment. The necessary and sufficient conditions of the existence and uniqueness ...

This paper analyses the welfare effects of microfinance and inflation in developing countries. Therefore, we introduce a moral hazard problem into a monetary search model with money and credit. We show how access to basic financial services affects households’ decisions to borrow, to save and to hold money balances. The group lending mechanism of the microfinance institution induces peer monito...

In this paper we develop procedures for setting the basestock levels for a buffer in a supply chain subject to uncertainty in the demands. Our work is motivated by experience with an industrial partner in the electronics industry who was subject to the following difficulties: short product cycles, a complex supply chain with multiple suppliers and long production leadtimes, and a very competiti...

right, or the power of demanding services in general, which may, or may not be commodities’ (Ibid: 35). The most advanced form of such transferable debt had no intrinsic value, typically paper, so the intrinsic value of silver or gold as money was ‘secondary’ (Ibid: 45). Gold and silver were only the most civilised of a lineage of representatives of labour, including shells and chocolate — clea...

This paper presents a theory of inflation in an economy with commodity money and supports it by evidence from the inflationary episodes in France during the fourteenth and fifteenth centuries. The paper shows that commodity money can be inflated similarly to fiat money through repeated debasements, which act like devaluation. Furthermore, as with fiat money, demand for commodity money falls wit...

This paper addresses the common cycle multi-product lot-scheduling problem in flexible flow lines (FFL) where the product demands are deterministic and constant over a finite planning horizon. Objective is minimizing the sum of setup costs, work-in-process and final products inventory holding costs per time unite while satisfying the demands without backlogging. This problem consists of a combi...

HE FUNDAMENTAL task of the central bank is to preserve the value of the currency. The understanding of the centrality of price stability has evolved over the years, and it is worthwhile to review selectively recent developments in thinking about this aspect of the role of the central bank, with an emphasis on unsettled and controversial issues. As long as countries adhered to the gold standard,...

this paper investigates an epq model with the increasing demand and demand dependent production rate involving the trade credit financing policy, which is seldom reported in the literatures. the model considers the manufacturer was offered by the supplier a delayed payment time. it is assumed that the demand is a linear increasing function of the time and the production rate is proportional to ...

reputation of a monetary’s authority, is an agents believe on his to control of deviation between targeting inflation and observed inflation. on one hand , a monterey’s authority, can throw agent’s trust to his polices, leading to lower inflation expectations and inflation. but on the other hand, government pressure on the monetary authority to do discretionary monetary policy( such as creation...

This article explores a finite replenishment model with variable deterioration for fixed lifetime products. In this model, suppliers offer trade credit period to the retailers in order to increase the demand of their products. During the credit period, the retailers can earn more by selling their products. The interest on purchasing cost is charged for the delay of payment by the retailers. Som...