Pub Date : 2015-03-01DOI: 10.6186/IJIMS.2015.26.1.2
Y. Chou, Yujang Scott Hsu, Hongji Lin
Service part inventory models can be distinguished by their intended application on sin-gle part/machine/facility, or on servicing an installed base of equipment. Besides typical uncertainties in part failure, the install base problem is compounded with the heterogeneity of the part age in equipment life cycle and scarcity of data toward the end of life phase. This paper presents an empirical study of the final order problem after the sale of a product is discontinued but there is an installed base to be serviced. Two fundamental issues are addressed: (1) to build forecast models on sales data directly or on failure probability indi-rectly, and (2) to use few but recent data or many but dated data. This paper first shows that regression on derived failure probabilities yields more accurate forecasts than regression on part sales data. The effect of data age and quantity on forecast is next investigated. The recency of historical data is shown to be more informative than the quantity of input data in demand forecast. Finally, an installed-base forecast model is constructed which show an improvement of 16.0% in absolute forecast errors than an existing method used in practice by a case study firm.
{"title":"Installed Base Forecast for Final Ordering of Automobile Service Parts","authors":"Y. Chou, Yujang Scott Hsu, Hongji Lin","doi":"10.6186/IJIMS.2015.26.1.2","DOIUrl":"https://doi.org/10.6186/IJIMS.2015.26.1.2","url":null,"abstract":"Service part inventory models can be distinguished by their intended application on sin-gle part/machine/facility, or on servicing an installed base of equipment. Besides typical uncertainties in part failure, the install base problem is compounded with the heterogeneity of the part age in equipment life cycle and scarcity of data toward the end of life phase. This paper presents an empirical study of the final order problem after the sale of a product is discontinued but there is an installed base to be serviced. Two fundamental issues are addressed: (1) to build forecast models on sales data directly or on failure probability indi-rectly, and (2) to use few but recent data or many but dated data. This paper first shows that regression on derived failure probabilities yields more accurate forecasts than regression on part sales data. The effect of data age and quantity on forecast is next investigated. The recency of historical data is shown to be more informative than the quantity of input data in demand forecast. Finally, an installed-base forecast model is constructed which show an improvement of 16.0% in absolute forecast errors than an existing method used in practice by a case study firm.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"24 1","pages":"13-28"},"PeriodicalIF":0.0,"publicationDate":"2015-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83138561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-12-01DOI: 10.6186/IJIMS.2014.25.4.6
Jeng-Fung Chen, Quang Hung Do
Admission is one of the key administrative branches in a university. Regarding the admission process, the issue of whether a candidate is suitable for an academic program is of importance. This raises the need to propose a model that predicts the student’s future academic performance. This study presents an approach to the prediction of student academic performance based on the Adaptive Neuro-Fuzzy Inference System (ANFIS). We have used previous exam results as input variables, and then predicted the students’ expected performances. Due to a large number of input variables, only the most influential ones affecting student academic performance were selected. We also identified the most influential input variables by analyzing their influence on expected academic performance. The ANFIS model was then parameterized using these input variables to predict student performance. The results showed that the proposed model achieved a high reliability. These results were also compared with those obtained from the Multiple Linear Regression (MLR) and the Artificial Neural Network (ANN) approaches. The comparative analysis indicated that the proposed approach performed better than the others. It is expected that this work may be used as a tool to support student admission procedures.
{"title":"Prediciton of Student Academic Performance Using an ANFIS Approach","authors":"Jeng-Fung Chen, Quang Hung Do","doi":"10.6186/IJIMS.2014.25.4.6","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.4.6","url":null,"abstract":"Admission is one of the key administrative branches in a university. Regarding the admission process, the issue of whether a candidate is suitable for an academic program is of importance. This raises the need to propose a model that predicts the student’s future academic performance. This study presents an approach to the prediction of student academic performance based on the Adaptive Neuro-Fuzzy Inference System (ANFIS). We have used previous exam results as input variables, and then predicted the students’ expected performances. Due to a large number of input variables, only the most influential ones affecting student academic performance were selected. We also identified the most influential input variables by analyzing their influence on expected academic performance. The ANFIS model was then parameterized using these input variables to predict student performance. The results showed that the proposed model achieved a high reliability. These results were also compared with those obtained from the Multiple Linear Regression (MLR) and the Artificial Neural Network (ANN) approaches. The comparative analysis indicated that the proposed approach performed better than the others. It is expected that this work may be used as a tool to support student admission procedures.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"39 1","pages":"371-389"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73086527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-12-01DOI: 10.6186/IJIMS.2014.25.4.4
Bing Xu, Yi-Na Li, Liheng Qi
This paper establishes a data-driven framework with nonparametric models with application of scale and allocation effects to study the determinants of out-of-pocket health payments (OOP) in China. The determinants of out-of-pocket health payments are the proportions of medical income, drug income to total hospital revenue, financial aid, number of hospital staff, actual rate of bed usage, return on assets, health care coverage, economic development level, and per capita disposable income. The operation mechanisms of OOP determinants are more different with the three linear factors than with the nonlinear factors. The transformation between linear and nonlinear roles has turned to more complicated since 2008. The scale effect of crowding-in is mainly witnessed via linear mechanism, while the negative allocation effect is mainly observed mainly through a nonlinear mechanism. Thus, the proportion of OOP can be effectively reduced with the comprehensive consideration of return on assets, healthcare coverage, economic development level, and per capita disposable income.
{"title":"Determinants of Out-of-pocket Health Payments with Policy Effects","authors":"Bing Xu, Yi-Na Li, Liheng Qi","doi":"10.6186/IJIMS.2014.25.4.4","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.4.4","url":null,"abstract":"This paper establishes a data-driven framework with nonparametric models with application of scale and allocation effects to study the determinants of out-of-pocket health payments (OOP) in China. The determinants of out-of-pocket health payments are the proportions of medical income, drug income to total hospital revenue, financial aid, number of hospital staff, actual rate of bed usage, return on assets, health care coverage, economic development level, and per capita disposable income. The operation mechanisms of OOP determinants are more different with the three linear factors than with the nonlinear factors. The transformation between linear and nonlinear roles has turned to more complicated since 2008. The scale effect of crowding-in is mainly witnessed via linear mechanism, while the negative allocation effect is mainly observed mainly through a nonlinear mechanism. Thus, the proportion of OOP can be effectively reduced with the comprehensive consideration of return on assets, healthcare coverage, economic development level, and per capita disposable income.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"30 1","pages":"331-348"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76881069","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-12-01DOI: 10.6186/IJIMS.2014.25.4.5
J. Jenifer, N. Sangeetha, B. Sivakumar
This paper deals with the problem of optimally control service rates for a continuous review (s, S) inventory system with a service facility consisting of finite buffer(waiting hall) and a single server. The customers arrive according to a Poisson process. The customer’s demand is satisfied after an exponential service time. An arriving customer, who finds the buffer is full, enters into the pool of finite size or leaves the system according to a Bernoulli trial. The replenishment time of the order is distributed as exponential. The life time of each item in the inventory is assumed to be exponential distribution. Here we determine the service rates to be employed at each instant of time so that the long-run total expected cost rate is minimized. The problem is modelled as a semi-Markov decision problem. The stationary optimal policy is computed using linear programming algorithm and the results are illustrated numerically.
{"title":"Optimal Control of Service Parameter for a Perishable Inventory System with Service Facility, Postponed Demands and Finite Waiting Hall","authors":"J. Jenifer, N. Sangeetha, B. Sivakumar","doi":"10.6186/IJIMS.2014.25.4.5","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.4.5","url":null,"abstract":"This paper deals with the problem of optimally control service rates for a continuous review (s, S) inventory system with a service facility consisting of finite buffer(waiting hall) and a single server. The customers arrive according to a Poisson process. The customer’s demand is satisfied after an exponential service time. An arriving customer, who finds the buffer is full, enters into the pool of finite size or leaves the system according to a Bernoulli trial. The replenishment time of the order is distributed as exponential. The life time of each item in the inventory is assumed to be exponential distribution. Here we determine the service rates to be employed at each instant of time so that the long-run total expected cost rate is minimized. The problem is modelled as a semi-Markov decision problem. The stationary optimal policy is computed using linear programming algorithm and the results are illustrated numerically.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"64 1","pages":"349-370"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89133122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-12-01DOI: 10.6186/IJIMS.2014.25.4.1
T. Liang
This article studies the problem of designing Bayesian sampling plans with type-II progressive hybrid censored samples. Algorithms A and B for deriving Bayesian sampling plans are proposed. Comparison between the performances of the proposed sampling plans with the sampling plans of Lin and Huang is made. The numerical results indicate that the proposed sampling plans perform much better than the sampling plans of Lin and Huang in terms of their associated Bayes risks.
{"title":"Designing Bayesian Sampling Plans for Exponential Distributions with Type-II Progressive Hybrid Censoring","authors":"T. Liang","doi":"10.6186/IJIMS.2014.25.4.1","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.4.1","url":null,"abstract":"This article studies the problem of designing Bayesian sampling plans with type-II progressive hybrid censored samples. Algorithms A and B for deriving Bayesian sampling plans are proposed. Comparison between the performances of the proposed sampling plans with the sampling plans of Lin and Huang is made. The numerical results indicate that the proposed sampling plans perform much better than the sampling plans of Lin and Huang in terms of their associated Bayes risks.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"10 1","pages":"281-296"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84779496","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-12-01DOI: 10.6186/IJIMS.2014.25.4.3
L. Ouyang, Chia-Hsien Su, Chia-Huei Ho, Chih-te Yang
The rise of consumer rights has caused businesses to focus increasingly on product quality. The inability of businesses to identify defective items before selling them results in higher return costs, decreased sales revenue, damaged reputations, and decreased competitiveness. This study examines the economic order quantity (EOQ) model in which the retailer discovers defective goods among received products. Although retailers conduct quality inspections, the inspection process is imperfect. We assume that Type I and Type II inspection errors occur during product quality inspection and that the market demand rate is sensitive to Type II inspection errors. To improve inspection, the retailer invests capital to decrease Type II inspection errors. This study investigates the optimal order quantity and the power of the test to maximize total profit per unit time. Mathematical analysis is used to show the optimal solution exists. An algorithm is then developed to calculate the optimal solution. Finally, numerical examples demonstrate the solution process and sensitivity analysis with respect to major parameters is carried out.
{"title":"Optimal Ordering Policy for an Economic Order Quantity Model with Inspection Errors and Inspection Improvement Investment","authors":"L. Ouyang, Chia-Hsien Su, Chia-Huei Ho, Chih-te Yang","doi":"10.6186/IJIMS.2014.25.4.3","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.4.3","url":null,"abstract":"The rise of consumer rights has caused businesses to focus increasingly on product quality. The inability of businesses to identify defective items before selling them results in higher return costs, decreased sales revenue, damaged reputations, and decreased competitiveness. This study examines the economic order quantity (EOQ) model in which the retailer discovers defective goods among received products. Although retailers conduct quality inspections, the inspection process is imperfect. We assume that Type I and Type II inspection errors occur during product quality inspection and that the market demand rate is sensitive to Type II inspection errors. To improve inspection, the retailer invests capital to decrease Type II inspection errors. This study investigates the optimal order quantity and the power of the test to maximize total profit per unit time. Mathematical analysis is used to show the optimal solution exists. An algorithm is then developed to calculate the optimal solution. Finally, numerical examples demonstrate the solution process and sensitivity analysis with respect to major parameters is carried out.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"65 1","pages":"317-330"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80203658","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-12-01DOI: 10.6186/IJIMS.2014.25.4.2
K. F. M. Latha, R. Uthayakumar
In this paper an inventory model for deteriorating items with time dependent quadratic demand and permissible delay in payments is developed. Shortages are allowed and are partially backlogged. An optimal policy that minimizes the total cost is developed. The objective of this study is to consider three different types of continuous probabilistic deterio-ration functions and to find the associated total cost. To illustrate the proposed model some numerical examples are given. Sensitivity analysis of the optimal solutions with respect to major parameters are carried out and comparison is made between the three models.
{"title":"An Inventory Model for Increasing Demand with Probabilistic Deterioration, Permissible Delay and Partial Backlogging","authors":"K. F. M. Latha, R. Uthayakumar","doi":"10.6186/IJIMS.2014.25.4.2","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.4.2","url":null,"abstract":"In this paper an inventory model for deteriorating items with time dependent quadratic demand and permissible delay in payments is developed. Shortages are allowed and are partially backlogged. An optimal policy that minimizes the total cost is developed. The objective of this study is to consider three different types of continuous probabilistic deterio-ration functions and to find the associated total cost. To illustrate the proposed model some numerical examples are given. Sensitivity analysis of the optimal solutions with respect to major parameters are carried out and comparison is made between the three models.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"115 1","pages":"297-316"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79078282","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-09-01DOI: 10.6186/IJIMS.2014.25.3.5
Hsu-Hua Lee
In this research, the cost/benefit model will be developed to integrate service management with profit design on relevant processes. The profit should be properly allocated on service conformance and service improvement by the investments in service management and using the approach of profit design. The customer perception and customer expectation can be used to quantify the service level after considering each service dimension. The service demand will be then increasingly affected by the improvement in service level. The investment in service level can be also considered and relevant cost and benefit are obtained. The model can be used for the decision makers to predict the cost/benefit of service management with profit design before the investment.
{"title":"Cost/Benefit Model Development of Service Management with Profit Design","authors":"Hsu-Hua Lee","doi":"10.6186/IJIMS.2014.25.3.5","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.3.5","url":null,"abstract":"In this research, the cost/benefit model will be developed to integrate service management with profit design on relevant processes. The profit should be properly allocated on service conformance and service improvement by the investments in service management and using the approach of profit design. The customer perception and customer expectation can be used to quantify the service level after considering each service dimension. The service demand will be then increasingly affected by the improvement in service level. The investment in service level can be also considered and relevant cost and benefit are obtained. The model can be used for the decision makers to predict the cost/benefit of service management with profit design before the investment.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"51 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2014-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73861891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-09-01DOI: 10.6186/IJIMS.2014.25.3.1
Cheng-li Huang, Wei-ju Chen, Kuo-Chen Lu
Huang and Zhang [15] provide evidence that enhanced information disclosure helps reduce the agency cost from the U.S.A. stock market that is dominated by institutional investors. This study attempts to explore if the supervision and disciplinary effect of capital market still exists in Taiwan's stock market that is dominated by retail investors. We use the empirical model of Huang and Zhang [15] to verify whether cash holdings are valued differently de- pending on information disclosure levels. The empirical results show that the cash holdings of companies with better disclosure quality are not valued significantly higher than those of companies with poorer disclosure quality. This finding is inconsistent with the evidence of Huang and Zhang [15] from an institutional investor dominated stock market. This study further divides the sample into two sub-samples, one consisting of firms with high institutional trading percentage and the other consisting of firms with low institutional trading percentage, to examine the monitoring effect of institutional and retail investors. Results indicate that for firms with a higher institutional trading percentage, the relation between the product of ratio of change in cash and disclosure level and abnormal returns is significantly positive; for firms with a lower institutional trading percentage, the relation is not significant. This explains the external monitoring in the capital market is mainly provided by institutional investors, and the effect of enhanced disclosure on corporate governance is more pronounced in the stock market dominated by institutional investors.
{"title":"The Monitoring Effect of Information Disclosure: Institutional and Retail Investors","authors":"Cheng-li Huang, Wei-ju Chen, Kuo-Chen Lu","doi":"10.6186/IJIMS.2014.25.3.1","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.3.1","url":null,"abstract":"Huang and Zhang [15] provide evidence that enhanced information disclosure helps reduce the agency cost from the U.S.A. stock market that is dominated by institutional investors. This study attempts to explore if the supervision and disciplinary effect of capital market still exists in Taiwan's stock market that is dominated by retail investors. We use the empirical model of Huang and Zhang [15] to verify whether cash holdings are valued differently de- pending on information disclosure levels. The empirical results show that the cash holdings of companies with better disclosure quality are not valued significantly higher than those of companies with poorer disclosure quality. This finding is inconsistent with the evidence of Huang and Zhang [15] from an institutional investor dominated stock market. This study further divides the sample into two sub-samples, one consisting of firms with high institutional trading percentage and the other consisting of firms with low institutional trading percentage, to examine the monitoring effect of institutional and retail investors. Results indicate that for firms with a higher institutional trading percentage, the relation between the product of ratio of change in cash and disclosure level and abnormal returns is significantly positive; for firms with a lower institutional trading percentage, the relation is not significant. This explains the external monitoring in the capital market is mainly provided by institutional investors, and the effect of enhanced disclosure on corporate governance is more pronounced in the stock market dominated by institutional investors.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"16 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2014-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85570164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-09-01DOI: 10.6186/IJIMS.2014.25.3.4
M. Cheng, L. Ouyang
With globalization, companies are facing fierce competition. Offering an appreciation period has become a commonly adopted method by retailers to sustain competitive advantage. During the appreciation period, customers can request to return products for any reason. In addition, retailers provide advance sales to attract additional customers. The supplier usually provides the retailer with a trade credit, which they can use as a type of price reduction to attract additional customers. Price is viewed as an important vehicle to sell products and enhance revenues. Therefore, in this article, we establish an inventory model with price-dependent demand for a retailer who simultaneously receives trade credit from its supplier, and offers advance sales and an appreciation period to its customers. We first establish a proper model and then provide an easy-to-use method to obtain an ordering policy for the retailer to achieve its maximum total profit. Finally, numerical examples are given to illustrate the solution procedure.
{"title":"Advance Sales System with Price-Dependent Demand and an Appreciation Period under Trade Credit","authors":"M. Cheng, L. Ouyang","doi":"10.6186/IJIMS.2014.25.3.4","DOIUrl":"https://doi.org/10.6186/IJIMS.2014.25.3.4","url":null,"abstract":"With globalization, companies are facing fierce competition. Offering an appreciation period has become a commonly adopted method by retailers to sustain competitive advantage. During the appreciation period, customers can request to return products for any reason. In addition, retailers provide advance sales to attract additional customers. The supplier usually provides the retailer with a trade credit, which they can use as a type of price reduction to attract additional customers. Price is viewed as an important vehicle to sell products and enhance revenues. Therefore, in this article, we establish an inventory model with price-dependent demand for a retailer who simultaneously receives trade credit from its supplier, and offers advance sales and an appreciation period to its customers. We first establish a proper model and then provide an easy-to-use method to obtain an ordering policy for the retailer to achieve its maximum total profit. Finally, numerical examples are given to illustrate the solution procedure.","PeriodicalId":39953,"journal":{"name":"International Journal of Information and Management Sciences","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2014-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84631477","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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