• The Journal of the Convergence on Culture Technology
• /
• v.8 no.5
• /
• pp.577-582
• /
• 2022

Credit transactions are used as a means of price discrimination from competitors in order for suppliers to increase customer demand. In particular, in the case of a two-stage supply chain consisting of a supplier, a retailer, and a customer, the deferral of payment for goods allowed by the supplier is a means of reducing the inventory investment cost of the retailer. Retailers have the opportunity to discount the selling price while anticipating an increase in end-customer demand through the reduction of the inventory investment cost. In view of the fact that such trade credit is provided for the purpose of increasing demand as a means of discrimination from competitors, it may be more general that the credit transaction period is allowed flexibly according to the transaction volume. In particular, in the case of deteriorating products, the credit transaction period given according to the order volume is a factor that increases the order volume of the retailer, but product deterioration can be a limiting factor in the increase in the order volume. The deterioration rate actually plays an important role in determining the inventory policy of the retailer. Therefore, in this paper, the effect of such deterioration rate on the inventory policy of retailer is analyzed.

• Proceedings of the Korea Water Resources Association Conference
• /
• 2023.05a
• /
• pp.184-184
• /
• 2023

Globally, agriculture is one of the largest consumers and polluters of water resources, contributing to the unsustainable use of limited water resources. To reduce the resource use and environmental footprints associated with current and future food systems, researchers and policy makers have recommended the transition to sustainable and healthier diets and the reduction of food loss and waste along the food supply chain. However, there is limited information on the synergistic effects and trade-offs of adopting the two measures. In this study, we assessed the water-saving potential of the two measures in South Korea using environmentally extended input-output relying on the EXIOBASE database for the reference year 2020, along with scenario analysis to model the potential outcomes. Specifically, we analyzed scenarios where meat consumption was reduced by 30% and 50% and in combination with a 50% reduction in food waste at the consumption stage for each scenario. According to our findings, by considering individual measures of dietary change and food waste reduction, shifting to a diet with 30% and 50% less meat consumption could lead to reduction in water footprint by 6.9% and 7.5%, respectively, while 50% reduction in food waste at the consumption stage could save about 14% of water footprint. However, the synergistic effects of the two measures such as 30% less meat consumption and 50% food waste reduction, and 50% less meat consumption and 50% food waste reduction result to 20% and 24% reductions in water footprint, respectively. Moreover, our findings also showed that increasing food consumption with high environmental impacts could promote resources use inefficiency when waste occurs. Thus, policy strategies that address synergistic effects of both dietary change and food waste reduction should be strengthened to achieve sustainable food system. International and national policies can increase resource efficiency by utilizing all available reduction potentials while considering strategies interactions.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.38 no.3
• /
• pp.136-148
• /
• 2015

We analyzed the effect of three different types of inventory systems for saving the total cost using simulation on the system where multiple depots and many retailers disperse on the limited area. Three types of inventory systems are single echelon system with inventory exchange and two-echelon system and the variant two-echelon system. Variant two echelon system is the two-echelon system where the inventory transshipmentsare allowed on every two stage inventory echelons. Inventories kept on every retailer are commonly used for all retailers when certain retailer has stock-out. And when all retailers are stock-out, inventories kept on every depot are commonly used for the retailers whose assigned depots are stock-out. These all three systems are simulated with the constraint of service level on wide range of parameter settings. Simulation results show that cost saving effect appear clear for single echelon system and two-echelon system when shortage cost portion and transportation cost portion becomes large respectively irrespective of depot number. Variant two echelon system seems to be superior to two other systems when transportationcost portion becomes very small. But this superiority is not proved in terms of statistics. So we may conclude that the variant two echelon system may be useless with the higher administrative efforts due to frequent inventory exchange. Also we note that the traditional two echelon system becomes inferior to two other systems in terms of statistics when service level becomes high or when demand variance becomes very large. And inventory integration effect that cost becomes saved when depot number decrease, diminishes when transportation cost or stock-out cost increases irrespective of inventory systems.

• International Journal of Advanced Culture Technology
• /
• v.6 no.3
• /
• pp.151-162
• /
• 2018

In deriving the economic order quantity (EOQ) formula, it is tacitly assumed that the buyer has to pay product price while receiving the product from the supplier. However, as a marketing policy, some suppliers permit a delay in payments to the buyers to increase demand for the product they made. Credit transactions would have a positive effect on both suppliers and buyers. For a supplier who offers trade credit, it is an effective means of price differentiation to increase the demand for the product. Availability of opportunity to delay the payment in buyer effectively reduces the cost of holding stocks and therefore, the buyer has a lot of price options to choose his sales price for a customer. Since the buyer's order is affected by the customer's demand, the problems of determining the sales price and EOQ are interdependent and must be solved simultaneously. From this perspective, this paper evaluates the problem of determining the optimal sales price and EOQ for the buyer at the same time when the supplier allows a delay in payments for the product whose demand is represented as a function that decreases linearly with the sales price. For the analysis, it is also assumed that inventory is exhausted not only by customer's but also by decay.

• Proceedings of the Korea Water Resources Association Conference
• /
• 2020.06a
• /
• pp.119-119
• /
• 2020

Globally, the demand for food and water resources are increasing rapidly with the growing concerns of meeting the projected population upsurge, specifically by 2050. The global population is projected to hit 9.8 billion in 2050 while the food demand is expected to increase by 77% from the 2007 base year. Moreover, the already scarce water resources, especially in the food-producing regions, expected to be significantly affected as food production already accounts for over 70% of the global water resources. However, the estimated food demand encapsulated the actual demand for both human consumption and animal feed in addition to the exuberant food waste at the consumption stage of the supply chain, notably in the developed countries. Managing the food consumption demand and food waste can have across-the-board benefits on water resources and other associated food production impacts. This study assessed the water-saving potentials through food waste in Korean households using the food waste data obtained from the direct weighing analysis. The household food waste collection and characterization were carried out during the summer (July), fall (September), and winter (December) seasons of 2019. The water footprint related to the food waste within Korean households was based on the water footprint concept, i.e. indirect water use. The results of our estimation showed that an average Korean household wasted 6.15 ± 4.36 kg daily, amounting to 12.53 ± 11.10 m3 of water resources associated with the waste. On the per capita basis, an average of 0.024 ± 0.017 kg/capita/day of food was wasted resulting to 0.049 ± 0.044 m3/capital/day of water resources wasted. The food waste types that accounted for the principal share in the water footprint were beef, soybean, rice and pork with values 30.7, 10.1, 9.6, and 7.5%, respectively. Considering that the production of meat and meat products are water intensive and the agricultural water use in Korea is largely for rice production, addressing the food waste of these two important agricultural products can be a hotspot for water saving potential in the country. This study therefore provides an insight to addressing the water scarcity in the country through reducing household food waste.

• Journal of the Korean Magnetics Society
• /
• v.22 no.5
• /
• pp.167-172
• /
• 2012

In order to analyze the formation mechanism of iron oxide nanoparticles, we measured the heat flow of $Fe(OL)_3$ precursor with temperature, and TEM images and AC susceptibility of aliquots samples sequentially taken from the reaction solution, respectively. The thermal decomposition of two OL-chain from $Fe(OL)_3$ produced the Fe-OL monomer, which were contributed to the formation of iron oxide nanoparticles. In the initial stage of nanoparticles formation, the small iron oxide nanoparticles had ${\gamma}-Fe_2O_3$ structure. However, as the iron oxide nanoparticles were rapidly growth, the iron oxide nanoparticles showed ${\gamma}-Fe_2O_3$-FeO core-shell structure which the FeO layer was formed on the surface of ${\gamma}-Fe_2O_3$ nanoparticles by insufficient oxygen supply from the reaction solution. These nanoparticles were transformed to $Fe_3O_4$ structure by oxidation during long aging time at high temperature. Finally, the $Fe_3O_4$ nanoparticles with high saturation magnetization and stable in the air could be easily synthesized by the thermal decomposition method.

• The Journal of the Convergence on Culture Technology
• /
• v.6 no.2
• /
• pp.191-197
• /
• 2020

As an effective means of price discrimination, some suppliers offer trade credit to the distributors for the purpose of increasing the demand of the product they produce. The availability of the delay in payments from the supplier enables discount of the distributor's selling price from a wider range of the price option in anticipation of increased customer's demand. In this regard, we consider the problem of determining the distributor's optimal price and lot size simultaneously when the supplier permits delay in payments for an order of a product whose demand rate is represented by a constant price elasticity function. It is assumed that the distributor pays the shipping cost for the order and hence, the distributor's ordering cost consists of a fixed ordering cost and the shipping cost that depend on the order quantity. For the analysis, it is also assumed that inventory is depleted not only by customer's demand but also by decay. We are able to develop a solution algorithm from the properties of the mathematical model. A numerical example is presented to illustrate the algorithm developed.