Optimal replenishment policy for deteriorating and non-deteriorating items

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dc.contributor.authorNovotná, Veronikacs
dc.contributor.authorBobalová, Martinacs
dc.coverage.issue2cs
dc.coverage.volume29cs
dc.date.issued2018-06-28cs
dc.description.abstractThe purpose of the paper is to present a model allowing the retailer to determine the optimal price of three kinds of items in a situation where the supplier provides the retailer with an interest-free loan for a contractually agreed period. The scientific aim is to verify whether an optimization problem is solvable, and determine the maximum length of the interval over which the goods can be sold with a profit in a situation where the model features two kinds of deteriorating items and one non deteriorating item. The economic theory is explained in the introductory section and serves as a basis for the drawing up of the model. Methods of analysis, synthesis, dynamic modeling and differential calculus of multivariate functions are also used. The situation where the dealer sells all his goods in time and the situation where this period is not observed are analyzed. Thanks to the exact expression of the model it is possible to assess the effect of any changes in external factors. Authors’ findings are that the used variables form compact set and analysed function is continues on this space, we can use Weistrass Theorem for additional calculation with success. Thanks to the exact expression of the model it is possible to assess the effect of any changes in external factors. The model proposed in the paper may be expanded in the future. One possibility is to consider a generalization of the model allowing for shortage of items, quantity discounts, inflation, etc.en
dc.formattextcs
dc.format.extent272-280cs
dc.format.mimetypeapplication/pdfcs
dc.identifier.citationEngineering Economics. 2018, vol. 29, issue 2, p. 272-280.en
dc.identifier.doi10.5755/j01.ee.29.3.14204cs
dc.identifier.issn1392-2785cs
dc.identifier.orcid0000-0001-9360-3035cs
dc.identifier.orcid0000-0001-9366-492Xcs
dc.identifier.other148600cs
dc.identifier.scopus55546358800cs
dc.identifier.urihttp://hdl.handle.net/11012/201704
dc.language.isoencs
dc.publisherKaunas University of technologycs
dc.relation.ispartofEngineering Economicscs
dc.relation.urihttp://inzeko.ktu.lt/index.php/EE/article/view/14204cs
dc.rightsCreative Commons Attribution 4.0 Internationalcs
dc.rights.accessopenAccesscs
dc.rights.sherpahttp://www.sherpa.ac.uk/romeo/issn/1392-2785/cs
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/cs
dc.subjectdifferential calculus of multivariable functionsen
dc.subjectdifferential equationsen
dc.subjectTaylor seriesen
dc.subjectreplenishment policyen
dc.subjectdeteriorating itemsen
dc.titleOptimal replenishment policy for deteriorating and non-deteriorating itemsen
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
sync.item.dbidVAV-148600en
sync.item.dbtypeVAVen
sync.item.insts2025.02.03 15:43:28en
sync.item.modts2025.01.17 16:34:26en
thesis.grantorVysoké učení technické v Brně. Fakulta podnikatelská. Ústav informatikycs
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