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A great deal of inventory costs are typically unpredictable because of the unpredictability of a competitive market. The fluctating demand from customer’s and the unpredictability of the market economy make it difficult for researchers and operation research practitioners to appropriately replicate an inventory problem. In order to prevail this type of unpredictability circumstances, in this paper, we have represented the inventory parameters as interval. Using this concept, we progressed a two-warehouse inventory model for deteriorating items with a fixed Shelf life, partially backlogging shortages and interval-valued deterioration rate. In addition to this the parameters like ordering cost, purchase cost, shortage cost, deterioration cost for both the rented and owned warehouse except the backlogging parameter have been considered as interval-valued. The uncertainty in the inventory parameters motivated us to view them as interval-valued in the present research. Based on the assumptions, the cost function of this problem is a highly nonlinear constraint optimization problem. Mathematica is used to tackle this nonlinear optimization problem. A numerical example has been presented to demonstrate the computational result. Then, a sensitivity analysis has been performed to study the effect of changes of different parameters of the model on the optimal policy. [ABSTRACT FROM AUTHOR]

In the current competitive market, green products are becoming more and more in demand across all customer demographics due to environmental contamination. Consequently, this has a direct impact on the notable rise in product demand. Conversely, a product cannot be used or repurposed if its maximum useful life has already elapsed. Therefore, the product's maximum lifespan plays a crucial role in inventory management. Advance payment is a critical component of the supplier–retailer relationship for a seasonal product with high demand. By integrating these issues, an inventory model for perishable goods is created, wherein the demand for the good is impacted by both its selling price and its green level. The model also includes linearly time‐dependent holding costs. According to this model, product greenness has an increasing effect on per‐unit costs. Different numerical examples are studied for supporting this model. Optimality of the objective function is shown graphically as well as numerically with the help of MATHEMATICA software. Finally, a fruitful conclusion is reached after performing a sensitivity analysis and visually depicting the impact of changing various factors. [ABSTRACT FROM AUTHOR]

Copyright of Arts Magazine is the property of Thamar University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study examines two retailer-initiated pre-shipment financing programs to assist capital-constrained suppliers in securing external funds for production. The first program is retailer-sponsored financing (RSF), an emerging practice in developing economies. Under RSF, the retailer commits to sharing the loan repayment obligation with the supplier by agreeing to pay up to a specific portion of the supplier's bank loan repayment. The second program is advance payment (AP), a common payment arrangement wherein the retailer pays a part of the wholesale amount upfront to support the supplier's production costs. We analyze a supply chain comprising a supplier and retailer. The retailer must choose between offering RSF, AP, or neither. Without RSF or AP, the supplier must opt for bank-direct financing when it is short of funds and bear the full responsibility of repaying the loan principal and interest. Our findings reveal a divergence in supplier and retailer preferences. Specifically, the supplier favors RSF as it not only lowers the marginal production cost but also permits the supplier to charge a higher risk premium to the retailer compared to AP. Conversely, the retailer prefers AP primarily due to the latter reason. Our research underscores the significance of RSF as a distinct financing alternative, enabling retailers to aid a supplier segment that cannot rely solely on AP. RSF also proves to be advantageous for banks by expanding their supplier clientele and boosting their lending volume. Interestingly, the supplier's and retailer's bankruptcy risks tend to have opposite impacts on the value of RSF. [ABSTRACT FROM AUTHOR]

This paper studies bank loan and advance payment in a random yield supply chain, consisting of one core manufacturer and one capital-constrained supplier who possesses private information on the supply state. With an information advantage, the supplier has a motive to hide his actual capital requirements to obtain more funds and shift to other risky projects. We focus on the credit contract design, which helps effectively prevent the supplier's excess debt motive. We characterize the supplier's best response, the optimal contract menus and all participators' profits under information symmetry and asymmetry, respectively. By designing the credit contract, creditors can effectively prevent funds from flowing out of the supply chain in asymmetric cases. We then investigate the willingness of creditors to provide financing. Our findings show that the bank is always willing to provide financial support, regardless of the information state. However, the manufacturer's willingness to provide a loan depends on the value of the supplier's reservation profit. In addition, advance payment is preferable over bank loan for the supplier. Furthermore, we explore the value of information, illustrating that information harms the supplier but benefits creditors in most cases. [ABSTRACT FROM AUTHOR]

The article examines national legislation and international legal acts operating in the field of international humanitarian law, in particular, regarding the treatment of prisoners of war. It has been emphasized that in the modern legal science of Ukraine there are no relevant scientific works devoted to the study of issues of bringing prisoners of war to disciplinary responsibility. Emphasis is placed on the fact that the Geneva Convention on the Treatment of Prisoners of War of 1949, in the conditions of martial law in our country, played an important role, determined the need and became the basis for the creation of appropriate national legislation regulating social relations in this area. It has been established that the legal position of prisoners of war is not the same and depends on their military rank, in particular, this is clearly expressed, for example, when they are recruited to work, brought to disciplinary responsibility, etc. It has been found that the fine, as a disciplinary sanction that can be applied to prisoners of war, from the point of view of its content and method of presentation, is characterized by its incomprehensibility, uncertainty and lack of terms used in its description in the national legislation. It has been concluded that the domestic legislator almost completely adopted (copied) this regulatory provision from the international legal act, without taking into account the realities and specifics of domestic legislation. In this regard, concerns have been expressed about its possible practical application in the form in which it currently exists. It has been established that the fine for prisoners of war, in contrast to convicts, is assigned according to the system of penalty days, and consists in assigning to the prisoner of war the daily amount of the fine, determined in accordance with the legislation in the national currency of Ukraine. A clearly defined number of days (term), during which he or she is obliged to pay the corresponding amount of money has been set. Emphasis is placed on the imperfection of national legislation, in particular, in the part of defining and applying fines to prisoners of war, on the basis of which the author has proposed appropriate changes and additions to it.

Problem definition: For many supply chains, deep-tier suppliers, due to their small size and lack of access to capital, are most vulnerable to disruptions. We study the use of advance payment (AP) as a financing instrument in a multitier supply chain to mitigate the supply disruption risk in a traditional system (with limited visibility) and a blockchain-enabled system (with perfect visibility). The main goal of this paper is to shed light on how blockchain adoption impacts agents' operational and financial decisions as well as profit levels in a multitier supply chain. Academic/practical relevance: Traditionally, because of the limited visibility in the deep tiers, powerful downstream manufacturers' financing schemes offered to their immediate upstream suppliers are not effective in instilling capital into the deep tiers. Advancements in blockchain technology improve the supply chain visibility and enable the manufacturer to better devise deep-tier financing to improve supply chain resilience. Methodology: We develop a three-tier supply chain model and take a game-theoretic approach to compare how blockchain-enabled deep-tier financing schemes affect a financially constrained supply chain's optimal risk-mitigation and financial strategies. Results: We find that although improved visibility via blockchain adoption can help the manufacturer make informed supply chain financing decisions, whether it can benefit all supply chain members depends on the financing schemes in use. Blockchain-enabled delegate financing increases risk-mitigation investments and benefits all three tiers of the supply chain only when the tier 2 supplier is severely capital-constrained with the working capital below a threshold. Because delegate financing endows the intermediary tier 1 supplier with leverage over the manufacturer, the inefficiency inhibits an all-win outcome when the tier 2 supplier is not severely capital-constrained. Blockchain-enabled cross-tier direct financing exhibits a compelling performance as it always leads to win-win-win outcomes (and is thus ubiquitously implementable) regardless of the suppliers' working capital profile. Managerial implications: Our insights help firms assess opportunities and challenges associated with enhancing supply chain visibility via blockchain adoption. History: This paper has been accepted for the Manufacturing & Service Operations Management Special Section on the Interface of Operations, Finance and Technology. Supplemental Material: The e-companion is available at https://doi.org/10.1287/msom.2022.1123. [ABSTRACT FROM AUTHOR]

This paper investigates the payment scheme and forecast information sharing issues in the express delivery logistics with the high-speed railway. The HSR carriers need to coordinate the transportation capacity between passenger and freight. It is widely recognized that the advance payment scheme (APS) using as deposit is a beneficial way for the HSR carriers to make decisions on the transportation capacity preserved for express delivery. However, the express service providers, who possess private forecast information of express delivery demand, may share inaccurate information with the HSR carriers to acquire sufficient preserved transportation capacity. This paper discusses what payment scheme is preferred by the HSR carrier, the express service provider through discussing the deposit decisions with or without forecast information sharing. We show that sharing demand forecast information can reduce the prereserved capacity and increase the profits of the HSR carrier. With the delayed payment scheme (DPS), the express service provider has no motivation to share the information; while with the APS, the HSR carrier can reasonably choose the deposit to encourage the express service provider to share the demand information. Our analysis also shows that the HSR carrier's profits with the APS is restricted by the investment returns and the express service provider's information sharing decisions. We also analyze the value range of the deposit, which is a proportion of the overall payment, that allows both the HSR carrier and the express service provider to prefer the APS, as well as to encourage the express service provider to share the demand information. [ABSTRACT FROM AUTHOR]

During the current pandemic period, the number of online transactions to purchase products through a mixed cash and prepayment agreement has increased significantly. Under this agreement, the buyer pays off a predefined percentage of the purchase price in advance, and the rest of the percentage is accomplished through the cash-on-delivery method. Adopting a practical scenario where the buyer has a storeroom with limited capacity, two sustainable inventory procedures for perishable items are developed, viz. (i) the inventory scheme with allowable shortages and fractional backlog, and (ii) the inventory scheme without ending. In both the schemes, not only the demand function but also the decay rate reveal an upward trend against storage time. However, the deterioration commencing moment is not instant but after a specific time interval from the products’ storage moment. The cost of storing items is adopted as a linear function of storing time as the decay rate shows an ascending trend against storing time. A salient criterion is developed to examine when the non-ending situation with salvage values is more economical for the industry manager than the zero ending situation with the regular selling price. Finally, several decision-making findings are presented after completing four numerical examples along with a real-life case study for the validation of the inventory schemes.

Determining the joint pricing and ordering policy is a challenging task for policy-makers dealing with perishable items. This research deals with the inventory coordination for a decaying commodity under a non-linear price-sensitive demand structure where the policy-maker completes the payment partially in advance, exploiting the multiple installments facility to control supply disruptions. Moreover, an inventory-out situation is incorporated to make the model more representative; shortages are backlogged partially through a variable rate in exponential form, depending on the customer waiting times. Though the formulated inventory coordination creates a highly complex optimization problem, the existence of the joint optimal pricing and ordering policy is explored by developing several theoretical outcomes. Three numerical illustrations are adopted to ensure the effectiveness of the model in providing the joint optimal pricing and ordering policy for the decision manager. Furthermore, to visualize the concavity of the average profit of the policy manager, as well as to demonstrate the adequacy of the optimum condition, MATLAB software was utilized. Finally, sensitivity studies for known key parameters are done using graphic presentation and a few supportive guidelines for the manager are also shown. The inventory manager should motivate the supplier to allow a higher installment frequency to implement the prepayment regulation, thus reducing the capital cost against the prepayment amount.

Due to the COVID-19 epidemic, human civilization and the corporate world confront unfathomable risks to their continued existence on the planet. People all over the world are losing employment or seeing their incomes diminish due to the COVID-19 virus influence. As a result, its influence has a direct effect on the purchasing ability of consumers. When a customer’s purchasing capability is diminished, his desire for items decreases. Again, retailers or suppliers of deteriorative goods face a risk in this uncertain environment, since deteriorative products have a limited shelf life. They should have an appropriate business strategy in this circumstance to maintain their commercial profession. Taking all of these factors into account, an inventory model is created that incorporates the COVID-19 influence on consumers’ demand for perishable commodities with preservation capability. Customers are granted a partial trade credit term to enable them to sell the items on time. The proposed model is very intricate and not amenable to an analytical solution. Two numerical cases are explored and solved to demonstrate the proposed model’s practical usefulness. The eigenvalues of that numerical example are determined to demonstrate that the Hessian matrix is positive definite, i.e., to determine the average cost function’s convexity. Finally, we do a post-optimality study to find out how different inventory characteristics affect the best policies.

Copyright of Business Consultant / Poslovni Konsultant is the property of FINconsult Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The phenomenon of child trafficking has emerged as a global child protection concern ever since the Palermo Protocol was promulgated by the United Nations in the year 2000. Since then, specific aspects of children's mobility for work in sectors such as fishing have been conceptualised as trafficking in Ghana. Drawing on a qualitative case study design, the views of 20 fishing community members were elicited in Senya Breku and Yeji. The study found that the trafficking of children from Senya Breku to Yeji for fishing began initially as a form of work socialisation within familial fishing groups before it expanded broadly into its present description as trafficking. Consequently, the study calls for greater recognition of the socio-historical processes that have characterised children's mobility to other communities for work in order to fully comprehend the phenomenon and propose appropriate policy responses. [ABSTRACT FROM AUTHOR]

Due to the highly competitive marketing economy, for different kinds of products’ related suppliers confer various incentives to their respective retailers with certain terms and conditions. Even though suppliers may require advance payments before delivering their products, they incentivize the scheme by offering instant price-discounts, maybe with some other additional benefits and we have constructed an inventory-model consisting of two-warehouses mathematically with deteriorating products. In this proposed model, the suppliers offer some price-discounts for advance payments made by their retailers. As advance payments put a constraint on the capital position of the retailers, the retailers meanwhile, enjoy some delay in the final payment of the rest amount which acts as a booster for their business. A partially backlogged shortage is allowed and its rate is considered to be dependent on the duration of waiting time from the replenishment of a lot to the arrival of the next lot. Finally, a numerical example is performed for validation of the suggested model.

During the current pandemic period, the number of online transactions to purchase products through a mixed cash and prepayment agreement has increased significantly. Under this agreement, the buyer pays off a predefined percentage of the purchase price in advance, and the rest of the percentage is accomplished through the cash-on-delivery method. Adopting a practical scenario where the buyer has a storeroom with limited capacity, two sustainable inventory procedures for perishable items are developed, viz. (i) the inventory scheme with allowable shortages and fractional backlog, and (ii) the inventory scheme without ending. In both the schemes, not only the demand function but also the decay rate reveal an upward trend against storage time. However, the deterioration commencing moment is not instant but after a specific time interval from the products' storage moment. The cost of storing items is adopted as a linear function of storing time as the decay rate shows an ascending trend against storing time. A salient criterion is developed to examine when the non-ending situation with salvage values is more economical for the industry manager than the zero ending situation with the regular selling price. Finally, several decision-making findings are presented after completing four numerical examples along with a real-life case study for the validation of the inventory schemes. [ABSTRACT FROM AUTHOR]

Determining the joint pricing and ordering policy is a challenging task for policy-makers dealing with perishable items. This research deals with the inventory coordination for a decaying commodity under a non-linear price-sensitive demand structure where the policy-maker completes the payment partially in advance, exploiting the multiple installments facility to control supply disruptions. Moreover, an inventory-out situation is incorporated to make the model more representative; shortages are backlogged partially through a variable rate in exponential form, depending on the customer waiting times. Though the formulated inventory coordination creates a highly complex optimization problem, the existence of the joint optimal pricing and ordering policy is explored by developing several theoretical outcomes. Three numerical illustrations are adopted to ensure the effectiveness of the model in providing the joint optimal pricing and ordering policy for the decision manager. Furthermore, to visualize the concavity of the average profit of the policy manager, as well as to demonstrate the adequacy of the optimum condition, MATLAB software was utilized. Finally, sensitivity studies for known key parameters are done using graphic presentation and a few supportive guidelines for the manager are also shown. The inventory manager should motivate the supplier to allow a higher installment frequency to implement the prepayment regulation, thus reducing the capital cost against the prepayment amount. [ABSTRACT FROM AUTHOR]

The article is devoted to the trade policy of Russia with Kashgar (East Turkestan) through Central Asia in the second half of the 19th and early 19th centuries. Fergana region (Kokand) became one of the main transfer points in Russian-Kashgar trade relations. After the conquest of the region by the Russian Empire, the colonial rulers sought to benefit from the development of trade both in local markets and in the territories adjacent to Turkestan's external borders, using the capital of foreign and local entrepreneurs. The export of raw materials and the import of finished products were established. [ABSTRACT FROM AUTHOR]

This study investigated an economic order quantity (EOQ) model with complete backorder for fixed lifetime perishable items under multiple advance and delayed payments policies. Here, a new type of business policy is considered where supplier offers the retailer to pay a fraction of the purchasing cost before the order delivery by multiple equal installments starting from the ordering time and the rest amount after the delivery by multiple equal installments. Here, some theoretical results are illustrated to determine the conditions of existence and uniqueness of the optimal solutions. A closed form solution is determined to solve the proposed model under approximation. Some numerical examples are provided to examine the validity of the proposed model. Finally, sensitivity analyses are presented to obtain the effect of optimal policy and provide some managerial insights of the model. [ABSTRACT FROM AUTHOR]

Orientation: Players in the agricultural value chain such as input suppliers, farmers (producers), traders (middlemen), processors or manufacturers and exporters do receive credit and extend credit, in the form of trade credit, as part of their transactions. Research purpose: The purpose of the study is to examine agricultural trade credit, particularly the factors that influence the receipt and extension of agricultural trade credit in smallholder farmer settings. Motivation for the study: The study is motivated by the limited understanding of trade credit activity in smallholder farmer settings in developing countries. Research approach/design and method: It is a cross-sectional quantitative study. It utilised the Ghana Living Standards Survey Round 7 dataset (GLSS 7). The data contains 18 653 observations, and a multinomial logit model (MNL) was employed in the data analysis. Main findings: The results show that trade credit receivable (where farmers extend credit to buyers) is more important relative to advance payment (where farmers receive credit from buyers). The receipt of advance payment is influenced by a farmer holding a preharvest contract, practising monocropping and coming from a smaller household. Age, marital status, literacy, crops sales value, national origin, marketing channels, type of crops and urban location are found to be significant explanatory factors of trade credit supply. Practical/managerial implications: Trade credit, particularly input credit and advance payment, can help primary agricultural producers to mitigate their production credit constraints. However, a well-functioning agribusiness environment that will lower the risks associated with trade credit activity is very crucial. Contribution/value-add: The study extends the frontiers of knowledge in agricultural financing by generating empirical evidence on trade credit activity in smallholder farmer settings in a developing country context.

The goal of this work is to demonstrate the optimal strategy of an inventory system for perishable goods with hybrid demand dependent on selling price and stock under the partial backlogging with a certain fixed ratio. In this system, the concept of pre-payment policy with a discount facility and fixed preservation investment are also introduced. Then, this inventory system is modelled mathematically by governing differential equations, and solving these equations, the corresponding average profit of the proposed model is obtained as a non-linear maximization problem. To check the optimality of the solution of the obtained non-linear maximization problem, some results are derived with the help of pseudo concavity and optimality conditions of the objective function of the non-linear maximization problem. Then to justify the model, three examples are taken and solved by Lingo software. Also, the concavity of the average profit is examined graphically. Finally, a post optimality analysis is performed to show the effects of known inventory parameters on the optimal policy.

Abstract This paper investigates the payment scheme and forecast information sharing issues in the express delivery logistics with the high-speed railway. The HSR carriers need to coordinate the transportation capacity between passenger and freight. It is widely recognized that the advance payment scheme (APS) using as deposit is a beneficial way for the HSR carriers to make decisions on the transportation capacity preserved for express delivery. However, the express service providers, who possess private forecast information of express delivery demand, may share inaccurate information with the HSR carriers to acquire sufficient preserved transportation capacity. This paper discusses what payment scheme is preferred by the HSR carrier, the express service provider through discussing the deposit decisions with or without forecast information sharing. We show that sharing demand forecast information can reduce the prereserved capacity and increase the profits of the HSR carrier. With the delayed payment scheme (DPS), the express service provider has no motivation to share the information; while with the APS, the HSR carrier can reasonably choose the deposit to encourage the express service provider to share the demand information. Our analysis also shows that the HSR carrier’s profits with the APS is restricted by the investment returns and the express service provider’s information sharing decisions. We also analyze the value range of the deposit, which is a proportion of the overall payment, that allows both the HSR carrier and the express service provider to prefer the APS, as well as to encourage the express service provider to share the demand information.

The classical inventory control policies assume that orders are paid for at the time of their receipts, but in practice, suppliers may require retailers to pay a fraction of the purchasing cost in advance, and sometimes allow them to pay this cost in several prepayments during a predetermined period. Planning inventory replenishments and prepayments become challenging when decisions must be made under uncertainty, especially when delivery time is stochastic, and shortages may occur. This paper develops an inventory control model in a purchasing system in which a visitor sells the product of a manufacturer, and a buyer receives call from the visitor to make an order and items arrives at stochastic time. Both partial prepayments and partial backordering are assumed in the model. The main aim of the paper is to determine the optimal level of inventory of the buyer such that his total profit is maximized. A mathematical model with a general probability distribution for lead time is developed and globally optimal solutions are derived for the model. The applicability of the model is discussed through two special cases for uniform and exponential probability distributions. The results are supportive of the proposed ideas and they reflect an efficient approach. [ABSTRACT FROM AUTHOR]

The goal of this research is to investigate an inventory model for degrading commodities with linear selling prices and nonlinear green level-dependent demand for an item. The pre-payment option with a one-time flat reduction on the product's selling price is considered here. The governing differential equations are used to mathematically define the model and solve numerically to optimize the model's average profit. After that, the model is tested using a numerical example, and sensitivity analyses are run to see how changing inventory factors affects the best strategy. The concavity of the objective function is shown graphically with the help of MATLAB software. Finally, some applications of this approach and future scopes are discussed. [ABSTRACT FROM AUTHOR]

This article examines the evolutionary history of coolie labourers and the Maistries in the plantations of colonial Madras Presidency in South India during the nineteenth century. The post-emancipation era in colonial India witnessed the growth of planting industries and several phases of migration of coolies to the overseas and domestic plantations. By focussing on coolie migration, particularly the recruitment, settlement and management practices in the coffee plantations of South India, this article argues that the capitalist entrepreneurs intentionally used indigenous socio-political and cultural forms and incorporated the traditional authorities in controlling and managing the estates. The intermediaries between the planters and the coolies used the traditional domains of caste, patriarchy, religion, group, locality, indebtedness, and vulnerability to recruit and employ the labourers in the plantations. The article points to the 'continued indebtedness' of the coolies through advance payment mechanisms and the birth of a coercive supervising authority in the South Indian colonial plantations during the nineteenth century. The article also argues that in due course of plantation development, the coolie recruitment and the engagement of the Maistries became the domains of colonial governmental intervention through new forms of writing practices and the collection of vital statistics of the coolies. [ABSTRACT FROM AUTHOR]

This study considers a dyadic supply chain in which a large and creditworthy buyer procures a product from a capital‐constrained supplier subject to disruption risk. In facilitating the production, the buyer may offer direct financing to the supplier by way of advance payment (AP). Concurrently, the buyer may also set a tailored discount rate (TR) that applies to the AP and an extended payment timeline (PE) for the balance due. We analyze the value and interplay of these elements by comparing optimal contractual terms with different AP, PE, and TR potentials. In general, AP applies to more reliable suppliers, and the coverage could be broadened by the inclusion of PE and TR. Specifically, when the advance discount rate is regulated within a certain limit, the buyer should offer TR without PE to the most reliable suppliers, vs. the floor discount rate with PE to those posing higher risk. Although the buyer normally benefits from practicing PE, the supplier benefits from it only when the risk level is relatively high and suffers from it when the risk level is relatively low; these effects persist although they are weakened in the presence of TR. Overall, PE and TR focus on different risk spectrums and are strategic substitutes for each other. The buyer can thereby retain its maximum payoff by properly configuring PE or TR when the other is under strict regulation. These insights offer strategic guidance for buyers to engineer business cash flows with respect to the risk level of their suppliers and the external regulation environment. [ABSTRACT FROM AUTHOR]

Copyright of Business Consultant / Poslovni Konsultant is the property of FINconsult Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The present research develops a two-warehouse economic order quantity (EOQ) model with imperfect products under fuzzy environment. Usually, the acquiring cost for an inventory model should be paid while receiving its receipt. Sometimes the supplier may offer to pay the purchasing amount in advance. Also, the capacity of warehouse plays a vital role in the inventory models. In lockdown situation, there is no supply to the customer throughout the lockdown period and so the inventory level remains stable during that period. This paper scrutinizes the Fuzzy EOQ model with substandard products which incorporates the notion of advance payment, repair option and lockdown situation. The proportion of defective product is considered as triangular fuzzy number. Fuzzy EOQ model is formulated to obtain the optimal order quantity which maximizes the expected annual profit and endorsed with numerical illustration. The sensitivity analysis for the proposed model is performed to show the impact of fuzziness on the proportion of defective rate along with the changes in parameters. [ABSTRACT FROM AUTHOR]

Profitably managing inventories is always a big challenge for retailers in the current context of transparent and competitive business. A general retailer always needs to handle both deteriorating and non-deteriorating products simultaneously to run a business. Deterioration of products sometimes impacts a retailer's profits badly—a situation which can be alleviated by implementing proper preservation technology. In addition, to improve profits and minimize costs, a retailer always seeks some credit facilities (e.g., advance payment, trade credit facilities, etc.) from the supplier to continue the business smoothly with minimum investment. Advance payment is renowned for preventing the possibility of business orders being canceled and helping the retailer to minimize the risk of investing significant amounts at a single time. The foremost objective of this research is to analyze the facilities of advance payment and preservation technology investment and concurrent attempts to deal with shortages. This study shows that, given the presence of preservation technology, the result of case II is 68.06% higher than that of case I, whereas when preservation technology is absent, the result of case II is 71.93% higher than that of case I. The managerial insights of this analysis reveal that preservation technology attempts to prolong product life by preventing deterioration, which contributes to the retailer's profitable business. On the other hand, in the case of an advance payment scheme, although the costs are relatively high, the study emphasizes the importance of the advance payment facility as it limits the risk of order cancellation and makes business more flexible for both supplier and retailer. The proposed model is solved by the classical optimization technique. Some theoretical derivations with numerical analysis support the model and provide some managerial insights for practitioners. [ABSTRACT FROM AUTHOR]

Due to the highly competitive marketing economy, for different kinds of products' related suppliers confer various incentives to their respective retailers with certain terms and conditions. Even though suppliers may require advance payments before delivering their products, they incentivize the scheme by offering instant price-discounts, maybe with some other additional benefits and we have constructed an inventory-model consisting of two-warehouses mathematically with deteriorating products. In this proposed model, the suppliers offer some price-discounts for advance payments made by their retailers. As advance payments put a constraint on the capital position of the retailers, the retailers meanwhile, enjoy some delay in the final payment of the rest amount which acts as a booster for their business. A partially backlogged shortage is allowed and its rate is considered to be dependent on the duration of waiting time from the replenishment of a lot to the arrival of the next lot. Finally, a numerical example is performed for validation of the suggested model. [ABSTRACT FROM AUTHOR]

In the classical EOQ model, acquiring cost of an order would be usually paid while receiving its receipt. Sometimes, the supplier may offer the retailer to pay the entire amount or the fraction of acquiring cost in advance as equal number of payments. The present research discusses the EOQ model with substandard products under fuzzy situation. This model deals with the advance payment on acquiring cost, products with substandard quality, and misclassification errors under repair option without scarcity by providing two models. The first model hypothesizes a remittance situation where the advance payment should be paid before the cycle time with some rate of interest which incurred by the supplier while the second model scrutinizes a situation where the prepayment occurs during the time length of the prior cycle which leads the supplier who would offer some price rebate on prepaid quantities. The proportion of improper items and the two kinds of screening errors are considered as the pentagonal fuzzy numbers [PFNs]. A fuzzy EOQ is framed for analyzing the sample, which can obtain the optimal solution. The impact of fuzziness on fraction of substandard products and investigation errors are illustrated for two models with appropriate examples. [ABSTRACT FROM AUTHOR]

This paper investigates a food supply chain model consisting of the supplier, food producer and multi-retailer of a deteriorating item under fully delay-in-payment and partial advance payment scheme. The deterioration rate of raw material is dependent on temperature and other environmental factors with respect to time. Here, the food producer prepares food after collecting the raw material from the supplier and then storing it in cold storage. The refrigeration cost is dependent on the occupied volume in the cold storage (where the products are preserved for freshness) and power consumption. The supplier offers delay-in-payment to stimulate the food producer to buy more raw material (which minimizes the holding cost and earns more revenues), whereas the food producer takes the partial advance payment on purchase cost from the retailers to ensure the order quantity. A mathematical model is developed to obtain optimal production time and the optimal number of deliveries so that the average profit of the food producer is maximum. Finally, a numerical example and sensitivity analysis of the key parameters are provided to illustrate and test the feasibility of the proposed model. [ABSTRACT FROM AUTHOR]

In this paper, a multi-cycle vendor–buyer supply chain production inventory model is conceptualized. Products in the system are considered to be deteriorated at a constant rate. Before replenishment of the order quantity, the buyer paid the purchase price in advance to the vendor in multiple time with an interest. In the lead time of buyer, the market demand is stochastic. Vendor's production cost of the item depends on the production rate, labor and technology used for the production. During the production period and shipment of quantity, a green-house gas (C O 2) is emitted at a constant rate to the environment. Finally, numerical examples and sensitivity analysis are provided to illustrate the presented model and also corresponding discussions and conclusion are presented. [ABSTRACT FROM AUTHOR]

Vadeli borçta peşin ödeme karışlığında indirim yapılmasının (الوضع والتعجيل) caiz olup olmayacağı meselesi çalışmamızın ana mevzudur. Cumhur söz konusu indirimi vadenin satın alınması olarak kabul etmiş ve bunu da cahiliye ribâsı çerçevesinde değerlendirerek haram kılmıştır. Bazı fakîhler ise böyle bir indirimi tarafların menfaati olarak düşünmüş ve meseleyi indirim sulhu (صلح الحطيطة) bağlamında değerlendirerek helal görmüşlerdir. Bu konudaki ihtilafların temel nedeni muteariz iki hadisin bulunmasıdır. Makalede erken ödeme indirimi muamelesinin şer‘î hükmüne ilişkin fukahânın yaklaşımları ortaya konulmuştur. Bu bağlamda konunun mahiyeti ile ilgili bilgi verildikten sonra söz konusu iki hadisin sened tahlili yapılarak konu açıklığa kavuşturulmaya çalışılmıştır. Ardından fakîhlerin görüşleri gerekçeleriyle birlikte değerlendirilerek tercihe şayan görüş tespit edilemeye gayret edilmiştir. Bu meyanda söz konusu muamelenin cahiliye ribâsı ile ilişkisinin olup olmadığı da belirlenmeye çalışılmıştır.

In this study, we consider a two-echelon supply chain, where two capital constrained suppliers compete to sell their products through a common retailer. The retailer may provide advance payment to one or two suppliers. We show that whether the retailer considers merging with only one supplier depends upon the revenue sharing ratio and the additional administrative costs of the revenue sharing contract. Meanwhile, the supplier who drops out of the market may adopt a hybrid financing scheme by combining bank credit with equity financing to return to the market. We find that the deselected supplier can be allowed to participate in the market when the bank loans ratio is below a certain threshold. We further investigate the impact of the bank loans ratio and competition intensity on the players' decisions and profits. In addition, we find that there exists an optimal bank loans ratio for the deselected supplier. Specifically, it is optimal for the deselected supplier to adopt pure bank credit if the production cost is sufficiently low. [ABSTRACT FROM AUTHOR]

In the business world, it is generally observed that the supplier gives a cash discount due to advance payment. The buyer may either pay off the total purchase cost or a fraction of the total purchase cost before receiving the products. If the buyer makes full payment then he receives a cash discount instantly. If the buyer pays a fraction of the total purchase cost, then (s)he receives the cash discount while paying the remaining amount at the time of receiving the lot. Moreover, in most of the inventory models, it is generally assumed that the delivered lot contains only perfect items. But in reality, the presence of imperfect items in the received lot cannot be overlooked as it will affect the total profit of the system. Thus, the study of inventory models considering the presence of imperfect items in the lot makes the model more realistic and it has received much attention from inventory managers. This paper develops a model that jointly considers imperfect quality items and the concept of an advance payment scheme (full and partial). The objective is to determine optimal ordering quantity to maximise the total profit of the system. The necessary theoretical results showing the existence of global maximum is derived. The model is illustrated with the help of numerical examples, and sensitivity analysis is carried out on some important system parameters to see the effects on the total profit of the system. The study shows that a full advance payment scheme is beneficial for the buyer. [ABSTRACT FROM AUTHOR]

The goal of this work is to demonstrate the optimal strategy of an inventory system for perishable goods with hybrid demand dependent on selling price and stock under the partial backlogging with a certain fixed ratio. In this system, the concept of pre-payment policy with a discount facility and fixed preservation investment are also introduced. Then, this inventory system is modelled mathematically by governing differential equations, and solving these equations, the corresponding average profit of the proposed model is obtained as a non-linear maximization problem. To check the optimality of the solution of the obtained non-linear maximization problem, some results are derived with the help of pseudo concavity and optimality conditions of the objective function of the non-linear maximization problem. Then to justify the model, three examples are taken and solved by Lingo software. Also, the concavity of the average profit is examined graphically. Finally, a post optimality analysis is performed to show the effects of known inventory parameters on the optimal policy. [ABSTRACT FROM AUTHOR]

The purpose of the study is to analyze the current system of transport taxation and develop proposals for its improvement. The article is devoted to the identification of ways to improve the system of taxation of transport tax on road transport in the Russian Federation, including the optimization of the current method of calculating the tax.Materials and methods. The article analyzes the literary sources of normative, reference and scientific literature on the organization of transport taxation. Based on the analysis of normative legal documentation the method of calculation of the transport tax on the automobile transport oper-ating in the Russian Federation is opened, shortcomings are revealed and the directions of its im-provement are designated. The statistical analysis of indicators of the taxation by the transport tax in the Russian Federation and Nizhny Novgorod Region is carried out. The authors also present statis-tical data on fuel prices in dynamics for three years, interrelation between the increase in the cost of fuel and the increase in fuel excises has been found. A generalization of the accumulated experience in the field of transport tax taxation in Russia and in foreign countries is given. The source data for this research were the materials of the report in the forms: 5-TN (2014-2017), NOM-1 (2014-2018), Internet information resources – бензин.рф and www.gks.ru.Results. This article highlights the features of the current system of taxation of transport tax, the importance of transport taxation for the formation of regional budgets. The inexpediency of replacing the transport tax with fuel excise is justified. The modified method of calculation of the transport tax on automobile transport, including for hybrid cars is developed. The values of the coefficients of environmental friendliness, market value, weight are proposed. In the process of analysis of statistical indicators of taxation the general trend of growth of tax revenues from individuals, reducing revenues from organizations was revealed. The tendency of fuel cost and fuel excise rates increase is established. The percentage ratio of the formation of the tax base for transport tax between taxpayers – legal entities and individuals is established. Conclusion. The use of the proposed methodology in practice will contribute to the implementation of the following regulatory principles of taxation: fairness, economic feasibility; as well as create the prerequisites for improving the environmental situation in the country by redirect-ing part of the funds from taxation to environmental funds. In this aspect, it is assumed that in view of the application of environmental coefficients, taxpayers will seek to upgrade their vehicles with more environmentally friendly, technical re-equipment of vehicles with modern and high environ-mental standards units. If the purpose of transport taxation is given, part of the collected funds can be directed to the development of transport infrastructure. The development of the tax system is an important area of the tax policy of the Russian Federation, as the optimization of the tax burden will contribute to the development of business, which will certainly have a positive impact on the financial and economic performance of enterprises in all spheres of activity.

This paper presents an integrated imperfect production inventory model under two layer supply chain management. To ensure the orders, manufacturer convinces the retailer to pay a percentage of the purchasing cost prior to replenish the products and offers the facilities such as (i) delay in payment on the remaining part of the purchasing cost and (ii) free transportation on the basis of advance payment amount. Time dependent development cost is incurred to maintain the reliability of the production system and as a result it reduces the imperfectness of the product during production. Under such circumstances, an integrated profit function has been developed to find the optimum number of production cycle, optimum number of replenishment cycle and hence reliability parameter of the manufacturing system, replenishment quantity for the retailer which maximize the integrated profit. Branch and Bound technique is used to obtain the integer solutions. Furthermore, we derived some useful lemmas and algorithms to obtain the optimum solution. Finally, the model has been illustrated with some numerical examples exploring the sensitivity analysis with respect to some parameters and obtains some managerial insights. [ABSTRACT FROM AUTHOR]

The paper offers observations, argumentation and recommendations regarding payment for expert services rendered by public forensic science organizations of the Russian Ministry of Justice in the course of civil litigation. Examples of casework involving experts from the Yaroslavl Forensic Science Laboratory provide justification of associated court costs and elaborate on compensation practices regulated by federal legislation. The authors introduce the concept of «security for litigation expenses».

Copyright of Journal of Computer Engineering & Applications is the property of Beijing Journal of Computer Engineering & Applications Journal Co Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The process of deterioration may not start immediately after the consignment reaches the go down; there generally occurs a delay. In certain cases, deterioration might begin after a certain period which may further prolong due to the introduction of better methods of inventory management. To take into cognizance of these situations, in contrast to the ordinary assumption in the existing models, we have considered that the decay in owned warehouse begins earlier than that in case of rented warehouse as the latter always provides for better inventory management and facilities. Applying these phenomena, a two-storage inventory model has been formulated with advance payment under three different situations according to different possibilities of starting times of deterioration in both warehouses. In this model, demand depends upon the selling price wherein shortages are considered partially with fixed backlogging rate. Analyzing and investigating the proposed problem, three different optimization problems are formulated and the optimality of these problems is proved theoretically. To solve the model, an algorithm is proposed. Then, to illustrate the model numerically, an example is considered and solved. Finally, post optimality is performed in order to investigate the effects of changes of different system parameters. [ABSTRACT FROM AUTHOR]

Generally, in the business world, it is observed that suppliers give different kinds of benefits to retailers due to advance payment. One of the popular benefits is instant cash discount due to advance payment. If a retailer pays off his total purchase cost before receiving the products, then he receives a certain percentage of cash discount instantly. However, if the retailer pays off a certain fraction of the total purchasing cost, then price discount is given only at the time of receiving the products while paying the remaining amount of the total purchasing cost. Using this concept, this paper formulates, under both cases of advance payment (full or partial), an inventory model for deteriorating products where shortages are allowed and demand function is considered as price and stock dependent. The closed‐form solutions for each case are presented and two numerical examples are solved. In addition, a sensitivity analysis is also performed to show the effects of advance payment with discount facility. [ABSTRACT FROM AUTHOR]

Copyright of Dilemas Contemporáneos: Educación, Política y Valores is the property of Dilemas Contemporaneos: Educacion, Politica y Valores and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We consider a supply chain consisting of a supplier and a distributor, in which the supplier has a capital constraint and faces productivity yield uncertainty. To solve the capital constraint problem, we propose an advance payment with risk compensation (APRC) mechanism, under which the distributor finances the supplier with an advance payment, and the supplier provides a price discount to compensate the distributor for the supplier's bankruptcy risk. The optimal solutions are derived under the APRC mechanism and the results indicate that under the APRC, the whole supply chain performs as well as if there is no capital constraint, in terms of profits and optimal strategies. Therefore, the APRC is an efficient solution for the supplier's capital constraint issue. In addition, when the deficit is big, the APRC provides an alternative financing arrangement and it can bring higher profits for both parties. Another very interesting finding is that, when the capital deficit is small, the supplier can do better with the bank loan financing, despite that a higher interest rate needs to be paid in this case. [ABSTRACT FROM AUTHOR]

This paper presents an integrated imperfect production inventory model under two layer supply chain management. To ensure the orders, manufacturer convinces the retailer to pay a percentage of the purchasing cost prior to replenish the products and offers the facilities such as (i) delay in payment on the remaining part of the purchasing cost and (ii) free transportation on the basis of advance payment amount. Time dependent development cost is incurred to maintain the reliability of the production system and as a result it reduces the imperfectness of the product during production. Under such circumstances, an integrated profit function has been developed to find the optimum number of production cycle, optimum number of replenishment cycle and hence reliability parameter of the manufacturing system, replenishment quantity for the retailer which maximize the integrated profit. Branch and Bound technique is used to obtain the integer solutions. Furthermore, we derived some useful lemmas and algorithms to obtain the optimum solution. Finally, the model has been illustrated with some numerical examples exploring the sensitivity analysis with respect to some parameters and obtains some managerial insights. [ABSTRACT FROM AUTHOR]

Generally, most of the inventory costs are not always fixed due to uncertainty of competitive market. In the existing literature, it is found that several researchers have worked on uncertainty considering inventory parameters as fuzzy valued. In this work, we have represented the inventory parameters as interval. Using this concept, we have developed a two-warehouse inventory model with advanced payment, partial backlogged shortages. Due to uncertainty, this problem cannot be solved by existing direct/indirect optimization technique. For this purpose, different variants of particle swarm optimization techniques (viz. PSO-CO, WQPSO and GQPSO) have been developed to solve the problem of the proposed inventory model by using interval arithmetic and interval order relations. Finally, to illustrate and also to validate the proposed model, a numerical example has been solved and the best found solutions (which is either optimal solution or near optimal solution) obtained from different variants of PSO have been compared. Then, a sensitivity analysis has been performed to study the effect of changes of different parameters of the model on the optimal policy. [ABSTRACT FROM AUTHOR]