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Regular version of the site

Article

Influence of Order Payment Delays on the Efficiency of Multinomenclature Reserve Control Models

Automation and Remote Control. 2017. No. 11(78). P. 2016-2024.

For the multinomenclature EOQ reserve control model with renting storage space and delayed payment for the orders, we propose an approach to optimization that accounts for the temporal value of money. We estimate the influence of these delays both on the parameters of the optimal control strategy and on the efficiency of using floating capital. The study has been done for situations when the said delays let one pay for orders from the revenue on repeat order intervals. We establish a necessary and sufficient condition imposed on the duration of delays that guarantees that this order payment from the revenue is possible. We illustrate characteristic features of optimization procedures with numerical computations.