Proceedings of the Safety Management and Science Conference (대한안전경영과학회:학술대회논문집)
- 2001.05a
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- Pages.199-203
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- 2001
Buyer's EOQ problem with inventory-level-dependent demand rate when the supplier allows day-terms credit
- Song Chang-Yong (Department of Industrial Engineering, Halla University) ;
- Shinn Seong-Whan (Department of Industrial Engineering, Halla University)
- Published : 2001.05.01
Abstract
In today's business transactions, it is more and more common to see that the buyers are allowed some grace period before they settle the account with the supplier. In this regard, we analyze the problem of determining the buyer's EOQ when the supplier allows day-terms credit. For the analysis, it is assumed that the buyer's demand rate is a function of the on -hand inventory level and the relevant mathematical model is developed.
Keywords