This study develops a joint optimal inventory strategy for both the buyer and the vendor when the expired stocks have salvage value, and are subject to constant rate of deterioration. It is shown numerically that the joint approach results in a significant cost reduction when compared with an individual decision by the buyer. We also observed that although the joint total cost decreases, the bu...

This paper discusses an Economic Production Quantity model for Weibull deteriorating items over an infinite time horizon under fuzzy environment. Fuzziness is introduced by allowing the cost components such as setup cost, production cost, holding cost, shortage cost and opportunity cost due to lost sales to certain extent. Triangular fuzzy numbers are used to represent the mentioned costs. Opti...

The allocation of cost savings is very important for the success of the joint relationship between the buyer and vendor in supply chain management. This paper develops integrated models with permissible delay in payments for determining the optimal replenishment time interval and replenishment frequency. In addition, the variant pricing strategy is employed to obtain both sides’ cost savings in...

Abstract -In this paper, we developed a fuzzy optimal replenishment policy for Inventory models of Weibull Deterioration items with Ramp type Demand under permissible delay in payments. Deterioration of items begins on their arrival in stock. The shortages are allowed and partially backlogged. All the inventory costs involved in this model are taken as triangular fuzzy numbers. Replenishment cy...

Bitcoin does not scale, because its synchronization mechanism, the blockchain, limits the maximum rate of transactions the network can process. However, using off-blockchain transactions it is possible to create long-lived channels over which an arbitrary number of transfers can be processed locally between two users, without any burden to the Bitcoin network. These channels may form a network ...

This study sheds light on the relationship between cognition and patience by documenting that correlation cognitive abilities delay discounting is weaker for same group of individuals if choices are incentivized. conjectures higher effort, which induces involvement system, moderates cognition. For 107 participants drawn from adult population in Tbilisi, this examines various measures ability pa...

Unfortunately, informal payments for health care are responsible for a considerable share of patients' out-of-pocket payments in Iran (1, 2). Almost all health care users and providers are familiar with such payments with the name of “under the table payments” in Iran (3). About half of Iranian health care seekers have faced with such payments at least one time during a year (2). Although the i...