EPQ Policies Considering the Holding Cost of Raw Materials under Conditions of Two-Level Trade Credit and Limited Storage Capacity
| Autor: | Shy-Der Lin, Ghi-Feng Yen, An-Kuo Lee |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
0209 industrial biotechnology
Holding cost 02 engineering and technology Economic production quantity Raw material Environmental economics 020901 industrial engineering & automation Trade credit 0202 electrical engineering electronic engineering information engineering Relevant cost Economics Production (economics) 020201 artificial intelligence & image processing Sensitivity (control systems) Energy supply |
| Zdroj: | OALib. :1-24 |
| ISSN: | 2333-9705 2333-9721 |
| DOI: | 10.4236/oalib.1105140 |
| Popis: | The economic production quantity model is widely used as a decision making tool. However, climate change and energy supply instability have raised the transport costs of raw materials, thereby affecting production costs. Therefore, this paper presents a new model that considers the holding costs of raw materials under conditions of two-level trade credit and limited storage capacity. Four theorems are developed to characterize the optimal solutions according to a cost-minimization strategy. Finally, a sensitivity analysis is executed to investigate the effects of the various parameters on ordering policies and the annual total relevant costs. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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