Functions of several variables analysis applied in inventory management

Novotná, Veronika; Šustrová, Tereza; Janková, Martina

Functions of several variables analysis applied in inventory management

Files

actaun_2013061072221.pdf(260.2 KB)

Date

2013-11-30

Authors

Novotná, Veronika

Šustrová, Tereza

Janková, Martina

ORCID

0000-0001-9360-3035

Publisher

MZLU

Altmetrics

Abstract

This paper introduces a newly constructed model which enables a retailer to set an optimal price of goods under permissible delay in payments, and to determine the maximum term of payment. The model is based on the assumption of timedependent demand and has been developed for non-deteriorating goods. The paper further analyzes a situation in which the retailer sell all the goods in time, and a situation in which the deadline was not met. Theoretical results are demonstrated by an illustrative example.
This paper introduces a newly constructed model which enables a retailer to set an optimal price of goods under permissible delay in payments, and to determine the maximum term of payment. The model is based on the assumption of timedependent demand and has been developed for non-deteriorating goods. The paper further analyzes a situation in which the retailer sell all the goods in time, and a situation in which the deadline was not met. Theoretical results are demonstrated by an illustrative example.

Keywords

inventory management, EOQ model, non-deteriorating goods, local extremes, multivariable functions, inventory management, EOQ model, non-deteriorating goods, local extremes, multivariable functions

Citation

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis. 2013, vol. 2013, issue 7, p. 2221-2227.
https://acta.mendelu.cz/61/7/2221/

Document type

Peer-reviewed

Document version

Published version

Language of document

en

Document licence

Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/