Optimal Replenishment Policy Model for Items with Price Discount and Inflation

• Main Authors: Shin-Yi Chen, 陳欣裕
• Other Authors: Hui-Ming Wee
• Format: Others
• Language: zh-TW
• Published: 1999
• Online Access: http://ndltd.ncl.edu.tw/handle/26307941681711564559

碩士 === 中原大學 === 工業工程學系 === 87 === Inventory models considering price discount has been studied widely recently. In this research, we investigate the vendor*s economic order quantity when there is a price discount due to sale promotion. The model is made more realistic by considering the time value of money and the influence of inflation. In the first section of study, we investigate the buyer*s optimal replenishment policy when the time value of money and price discount are considered. A model with deteriorating items are then developed. Finally, an optimal replenishment policy for deteriorating or non-deteriorating products with price discount and inflation derived. The final model is a more realistic case. Mathematical proofs illustrating the necessary conditions for optimality are derived by means of Maple V and the Foxpro computer language. Numerical results and sensitivity analysis are given to demonstrate how the changes in various parameters affect the cost saving for ordering at special price discount.