Article

EOQ models for postponed payment of stored commodities

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In inventory theory the inventory holding cost per unit plays an important part. In most transactions concerning selling and buying a certain postponement of payment is offered or accepted by the seller. This should have some consequences for the order size and can be regarded as a kind of discount. Traditionally, when average costs (AC) are used, these kinds of effects are not explicitly incorporated in the classical formulas for economic order quantities (EOQs). On the other hand, such effects have been treated to a certain degree in the literature when a present value criterion (PVC) is used to estimate the inventory holding costs over a certain time interval. However, in these models one does not differentiate between the holding costs incurred by the capital tied up in the inventory and other costs incurred by storing an item. Approaches this problem in an AC manner, but, opposed to the PVC, splits the inventory holding costs into two parts. Offers an EOQ formula for the simple case of a single item stored; enhances this formula for a situation where a family of items are ordered in a co-ordinated way, and into a situation with stochastic demand for a single item. Finally, interprets the postponed payment in terms of an all unit discount.

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Ketersediaan

Informasi Detail

Judul Seri

International Journal of Physical Distribution & Logistics Management

No. Panggil

ATC LO HAL e

Penerbit

Norway : Emerald Insight., 2003

Deskripsi Fisik

17 p.

Bahasa

English

ISBN/ISSN

-

Klasifikasi

LO

Tipe Isi

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Tipe Media

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Tipe Pembawa

online resource

Edisi

Vol. 33 No. 8, 2003 pp. 686-700

Subjek

Inventory
Payments
Economic order quantities

Info Detail Spesifik

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Pernyataan Tanggungjawab

Øyvind Halskau Sr

Versi lain/terkait

Lampiran Berkas

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