Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality
In this paper, the classical economic order quantity (EOQ) inventory model assumption that all items of a certain product received from a supplier are of perfect quality is relaxed. Another basic assumption that the payment for the items is made at the beginning of the inventory cycle when they are...
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| التنسيق: | article |
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2014
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| الوصول للمادة أونلاين: | http://hdl.handle.net/10725/3853 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://search.proquest.com/openview/3ba9d98210a4833aa4a3fdf386bebc4f/1?pq-origsite=gscholar |
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| _version_ | 1864513462437150720 |
|---|---|
| author | Arayssi, Mahmoud |
| author2 | Yassine, Noura |
| author2_role | author |
| author_facet | Arayssi, Mahmoud Yassine, Noura |
| author_role | author |
| dc.creator.none.fl_str_mv | Arayssi, Mahmoud Yassine, Noura |
| dc.date.none.fl_str_mv | 2014 2016-05-19T13:18:58Z 2016-05-19T13:18:58Z 2017-07-17 |
| dc.identifier.none.fl_str_mv | 1548-6583 http://hdl.handle.net/10725/3853 Arayssi, M., & Yassine, N. (2014). Short-Term Financing of Economic Order Quantity (EOQ) Inventory Model With Probabilistic Quality. Journal of Modern Accounting and Auditing, 10(7). http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://search.proquest.com/openview/3ba9d98210a4833aa4a3fdf386bebc4f/1?pq-origsite=gscholar |
| dc.language.none.fl_str_mv | en |
| dc.relation.none.fl_str_mv | Journal of Modern Accounting and Auditing |
| dc.rights.*.fl_str_mv | info:eu-repo/semantics/openAccess |
| dc.title.none.fl_str_mv | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality |
| dc.type.none.fl_str_mv | Article info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/article |
| description | In this paper, the classical economic order quantity (EOQ) inventory model assumption that all items of a certain product received from a supplier are of perfect quality is relaxed. Another basic assumption that the payment for the items is made at the beginning of the inventory cycle when they are received is also eased. We consider an inventory situation where items received from the supplier are of two types of quality, perfect and imperfect, and a short deferral in payment is allowed. The split between perfect and imperfect quality items is assumed to follow a known probability distribution. Both qualities of items have continuous demands, and items of imperfect quality are sold at a discount. A mathematical model is developed using the net present value of all cash flows involved in the inventory cycle. A numerical method for obtaining the optimal order quantity is presented, and the impact of the short-term financing is analyzed. An example is presented to validate the equations and illustrate the results. |
| eu_rights_str_mv | openAccess |
| format | article |
| id | LAURepo_d5806f9ed12cf7cda8f7a2c601cfbded |
| identifier_str_mv | 1548-6583 Arayssi, M., & Yassine, N. (2014). Short-Term Financing of Economic Order Quantity (EOQ) Inventory Model With Probabilistic Quality. Journal of Modern Accounting and Auditing, 10(7). |
| language_invalid_str_mv | en |
| network_acronym_str | LAURepo |
| network_name_str | Lebanese American University repository |
| oai_identifier_str | oai:laur.lau.edu.lb:10725/3853 |
| publishDate | 2014 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| spelling | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic qualityArayssi, MahmoudYassine, NouraIn this paper, the classical economic order quantity (EOQ) inventory model assumption that all items of a certain product received from a supplier are of perfect quality is relaxed. Another basic assumption that the payment for the items is made at the beginning of the inventory cycle when they are received is also eased. We consider an inventory situation where items received from the supplier are of two types of quality, perfect and imperfect, and a short deferral in payment is allowed. The split between perfect and imperfect quality items is assumed to follow a known probability distribution. Both qualities of items have continuous demands, and items of imperfect quality are sold at a discount. A mathematical model is developed using the net present value of all cash flows involved in the inventory cycle. A numerical method for obtaining the optimal order quantity is presented, and the impact of the short-term financing is analyzed. An example is presented to validate the equations and illustrate the results.PublishedN/A2016-05-19T13:18:58Z2016-05-19T13:18:58Z20142017-07-17Articleinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article1548-6583http://hdl.handle.net/10725/3853Arayssi, M., & Yassine, N. (2014). Short-Term Financing of Economic Order Quantity (EOQ) Inventory Model With Probabilistic Quality. Journal of Modern Accounting and Auditing, 10(7).http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.phphttp://search.proquest.com/openview/3ba9d98210a4833aa4a3fdf386bebc4f/1?pq-origsite=gscholarenJournal of Modern Accounting and Auditinginfo:eu-repo/semantics/openAccessoai:laur.lau.edu.lb:10725/38532021-03-19T09:10:05Z |
| spellingShingle | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality Arayssi, Mahmoud |
| status_str | publishedVersion |
| title | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality |
| title_full | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality |
| title_fullStr | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality |
| title_full_unstemmed | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality |
| title_short | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality |
| title_sort | Short-term financing of economic order quantity (EOQ) inventory model with probabilistic quality |
| url | http://hdl.handle.net/10725/3853 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://search.proquest.com/openview/3ba9d98210a4833aa4a3fdf386bebc4f/1?pq-origsite=gscholar |