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Details for article 7 of 89 found articles
| Title: |
An Algebraically Derived Minimal Cost Solution Technique of the EOQ Model Under Conditional Trade Credit |
| Author: |
Yung-Fu Huang |
| Appeared in: |
Journal of applied sciences |
| Paging: | Volume 6 (2006) nr. 4 pages 750-754 |
| Year: |
2006 |
| Contents: |
In this study the restrictive assumptions of the trade credit independent of the order quantity and the retailer`s unit selling price equaled to the purchasing price per unit are relaxed to fit real business situations. This study investigates the retailer`s inventory problem under trade credit dependent of the order quantity and the retailer`s unit selling price not necessarily equals to the purchasing price per unit within the Economic Order Quantity (EOQ) framework. In addition, we adopt the algebraic procedure to determine the retailer`s optimal ordering policy under minimizing the annual total variable cost. This algebraic approach could therefore be used easily to introduce the basic inventory theories to younger students who lack the knowledge of calculus. Then, two theorems are developed to efficiently determine the optimal cycle time and optimal order quantity for the retailer. Finally, numerical examples are given to illustrate these theorems and obtain a lot of managerial insights. |
| Publisher: |
Asian Network for Scientific Information (provided by DOAJ) |
| Source file: |
Elektronische Wetenschappelijke Tijdschriften |
Details for article 7 of 89 found articles
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