Trade credit is an increasingly important payment behavior in real business transactions. To reduce nonpayment risks, a supplier/retailer frequently offers partial trade credit to its credit risk downstream member who must pay a portion of the purchase amount at the time of placing an order and then receives a permissible delay on the rest of the outstanding amount. This paper develops an EPQ m...

Inventory management seeks to improve manufacturing by contracting inventory costs in a similar fashion raise efficiency and profit. One approach is develop models according actual production systems. Furthermore, governmental policies many countries impose regulations on firms fulfill the growing demand for reduction carbon emissions. Warm-up familiar concept industrial applications. It allows...

Cardenas-Barron [L.E. Cardenas-Barron, Economic production quantity with rework process at a single-stage manufacturing system with planned backorders, Computers and Industrial Engineering 57 (2009) 1105–1113] minimizes the annual total relevant cost TC(Q , B) to find the economic production quantitywith rework process at amanufacturing system and assumes that TC(Q , B) is convex. So, the solut...

This study proposes a two-phase, algebraic approach to resolve the rotation cycle time and number of shipments for a multi-item, economic production quantity (EPQ) model with a random defective rate. A conventional method for solving a multi-item EPQ model is to use differential calculus and Hessian matrix equations on system cost function to prove convexity first and then derive an optimal pro...

This paper derives the optimal production-shipment policy for a vendor-buyer integrated system with rework process and a cost lessening product delivery plan. The objective is to derive the optimal production lot size and number of deliveries that minimizes total costs for the proposed vendor-buyer integrated system. This paper extends the work of Chiu et al. [Joint determination of the product...

This paper investigates optimal replenishment lot size and optimal number of shipments for economic production quantity (EPQ) model with rework process using an algebraic approach. The classic EPQ model assumes a perfect quality production for all items produced and a continuous issuing policy for satisfying customer‟s demand. However, in a real life vendor-buyer integrated-production-inventory...

An extended economic production quantity (EPQ) model under stochastic demand is investigated in this paper, where a fixed lot sizing policy is implemented to reduce the complexity of production planning and inventory control, and outsourcing with a secondary facility is used to supplement the lot sizing policy and to cope with the random demand. The considered cost includes: setup cost for the ...

Previous work has demonstrated that individuals with a repressive coping style (i.e. those high in defensiveness and low in trait anxiety) tend to show higher levels of physiological reactivity than nonrepressors. The present study examined archival data from a two-session experiment to assess whether repressors would show greater reactivity as measured by the eye blink component of the acousti...

This paper investigates the optimal replenishment policy under conditions of permissible delay in payments within the economic production quantity (EPQ) framework. In 1985, Goyal assumed that: (1) The unit selling price and the unit purchasing price are equal. (2) The replenishment rate is infinite. (3) At the end of the credit period, the account is settled. The retailer starts paying for high...

While there has been considerable work over the years on multistage lot-sizing models, particularly in an MRP environment, there has been relatively little work on systems recognizing the WIP effects when there is gradual conversion of the components into the final product, as in production planning using the EPQ model for planning the final product. Here we consider lot-sizing planning for a t...