Article Per Year (5 Year)
p-Index From 2021 - 2026
0
P-Index
This Author published in this journals
All Journal International Journal of Advances in Applied Sciences
Shih-Ming Ou
Fuzhou College of Foreign Studies and Trade
Earth & Planetary Sciences Environmental Science Materials Science & Nanotechnology Mathematics Physics

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
An Optimal Replenishment Policy for the EPQ Model with Permissible Delay in Payments Shih-Ming Ou; Kuo-Kuang Chang
International Journal of Advances in Applied Sciences Vol 5, No 1: March 2016
Publisher : Institute of Advanced Engineering and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (481.4 KB) | DOI: 10.11591/ijaas.v5.i1.pp13-20

Abstract

Most of the past researches on economic replenishment quantity did not consider the trade credit period. In practice, however, companies in Taiwan have shown that taking the trade credit period into account when they are making inventory decisions decreases costs substantially. The aim of this paper is to develop an inventory model that incorporates a delay in payments to minimize the total inventory-relevant cost. The optimal replenishment policy of the proposed model is identified by utilizing the global optimum conditions and non-constrained quadratic nonlinear programming. The results show that the existence of global optimal inventory cycle under the condition of total cost function is convex. Accordingly, the proposed model can assist managers in effectively addressing EPQ issue under competitive market.
Co-Authors Kuo-Kuang Chang