Trade credit is a well established promotional tool in the present competitive world and its impact on demand cannot be ignored. Businesses often use trade credit to increase their market share and, in turn, the profit. Undoubtedly, trade credit plays a great role in increasing the demand but it also involves a great risk of nonpayment. In order to reduce the risk of non-payment, businessman at...

Huang [ Journal of Statistics and Management Systems, Vol. 6 (2003), No. 2, pp. 171-180 ] studied the EOQ (Economic Order Quantity) and EPQ (Economic Production Quantity) models with backlogging and defective items using the algebraic approach. He assumed 100% inspection policy and the known proportion of defective items was removed prior to storage or use after the screening process. In this p...

Shows equilibrium always exists (Rothschild-Stiglitz-Wilson model) when firms enforce policy exclusivity via strategic (profit-maximizing) communication of client purchases. Strategic communication induces two equilibrium types: partial communication of purchase information or non-communication which exhibits a lemon effect (low-risk purchase no insurance). Nonetheless, Jaynes' configuration (J...

Lot sizing Minimum order quantity Shortage Simulation In this study, lot sizing models of offer so that the cost shortage, holding inventory of exposure, ordering are to be considered and try to determine the values of Qm or maximum inventory so that the total cost could be as little as possible. Lot sizing systems with the specified consumption in a general model are studied and optimization o...

An economic order quantity model with backordering is investigated under a hybrid payment scheme. The payment scheme, which is also linked to order quantity, involves multiple advance payments as well as delayed payment. Incorporating this payment scheme can efficiently stimulate sales due to applying delayed payment; besides it provides the benefits of advance payment such as controlling the r...

The concept system around ‘quantity’ and ‘quantity value’ is fundamental for measurement science, but some very basic issues are still open on such concepts and their relations. This paper proposes a duality between quantities and quantity values, a proposal that simplifies their characterization and makes it consistent.

The classical Economic Order Quantity (EPQ) models consider that the production rate is fixed and constant. But in many manufacturing and production processes the production rate is a function of stock on hand. For this sort of situations we develop and analyze an EPQ model with the assumption that the production rate is a function of the on-hand inventory and demand is a function of selling pr...

Monetary policy is a blunt instrument with which to smooth aggregate volatility. I demonstrate that there is actually very little correlation between how much real state income responds to monetary policy and to shocks that prompt aggregate smoothing by the Federal Reserve. This mismatch turns out to be strong enough to imply that while monetary policy might have reduced the variance of aggrega...

This article focuses on solving the order quantity allocation problem for retailers. It considers factors such as quality constraints, nonlinear discounts, and price-dependent demand. By formulating it a maximization problem, aims to find best combination of suppliers out infinite solutions maximize retailer’s profit. The main contribution this research is new mathematical model that can solve ...