Year 2020, Volume 25 , Issue 3, Pages 1499 - 1518 2020-12-31

Inventory Costs and Replenishment Decisions Considering the Time Value of Money
PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI

Mustafa ÇİMEN [1] , Gözdem DURAL SELÇUK [2] , Şule TARIM [3]


In this study, we propose economic order quantity formulations considering the time value of money, using a net present value based approach. We address the optimal lot sizing problem with static-deterministic demand under fixed ordering cost, linear holding and penalty cost assumptions. This problem has been investigated in the literature by two articles. However, despite addressing the problem under the same assumptions, these two articles propose two different formulations. The writers of both of the studies have objected each other’s formulations claiming that their own study is correct. In our study we present the exact formulations for the aforementioned problem and point out the shortcomings of the previously presented net present value based economic order quantity formulations. Our numerical study demonstrates that both (i) not integrating cash flows analysis into classical economic order quantity model, and (ii) using the erroneous models presented by the two articles which make this integration incorrectly, may lead to sub-optimal solutions. 

Bu makalede; net bugünkü değer yaklaşımı uygulanarak elde edilen, paranın zaman değerini dikkate alan ekonomik sipariş miktarı formülasyonları sunulmaktadır. Makalede; sabit kurulum maliyeti, doğrusal elde bulundurma maliyeti ve ceza maliyeti varsayımları altında, statik-deterministik talepli optimal sipariş miktarı problemi ele alınmıştır. Söz konusu problem literatürde daha önce iki farklı makalede incelenmiştir. Ancak bu iki makalede, problem aynı varsayımlar altında incelendiği halde iki farklı formülasyon sunulmuştur. Her iki makalenin da yazarları birbirlerinin formüllerine itiraz ederek kendi formüllerinin doğru olduğunu iddia etmişlerdir. Bu çalışmada, bahsi geçen problem için ekonomik sipariş miktarının doğru formülasyonları sunulmakta ve daha önceki iki makalenin de hatalı olduğu gösterilmektedir. Yapılan nümerik analizler, (i) hem nakit akışı analizi ekonomik sipariş miktarı modeline entegre edilmediğinde, (ii) hem de bu entegrasyonu hatalı olarak yapan iki makalede önerilen hatalı formülasyonun kullanılması durumunda alt-optimal sonuçlar elde edilebileceğini göstermektedir. Nümerik sonuçlar bu makalede sunulan formülasyonun katma değerini ortaya koymaktadır. 

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Primary Language tr
Subjects Industrial Engineering
Journal Section Research Articles
Authors

Author: Mustafa ÇİMEN
Institution: HACETTEPE ÜNİVERSİTESİ
Country: Turkey


Author: Gözdem DURAL SELÇUK
Institution: ATILIM ÜNİVERSİTESİ
Country: Turkey


Author: Şule TARIM (Primary Author)
Institution: ÇANKAYA ÜNİVERSİTESİ
Country: Turkey


Dates

Application Date : March 9, 2019
Acceptance Date : October 30, 2020
Publication Date : December 31, 2020

Bibtex @research article { uumfd537729, journal = {Uludağ University Journal of The Faculty of Engineering}, issn = {2148-4147}, eissn = {2148-4155}, address = {}, publisher = {Bursa Uludağ University}, year = {2020}, volume = {25}, pages = {1499 - 1518}, doi = {10.17482/uumfd.537729}, title = {PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI}, key = {cite}, author = {Çimen, Mustafa and Dural Selçuk, Gözdem and Tarım, Şule} }
APA Çimen, M , Dural Selçuk, G , Tarım, Ş . (2020). PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI . Uludağ University Journal of The Faculty of Engineering , 25 (3) , 1499-1518 . DOI: 10.17482/uumfd.537729
MLA Çimen, M , Dural Selçuk, G , Tarım, Ş . "PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI" . Uludağ University Journal of The Faculty of Engineering 25 (2020 ): 1499-1518 <https://dergipark.org.tr/en/pub/uumfd/issue/57911/537729>
Chicago Çimen, M , Dural Selçuk, G , Tarım, Ş . "PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI". Uludağ University Journal of The Faculty of Engineering 25 (2020 ): 1499-1518
RIS TY - JOUR T1 - PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI AU - Mustafa Çimen , Gözdem Dural Selçuk , Şule Tarım Y1 - 2020 PY - 2020 N1 - doi: 10.17482/uumfd.537729 DO - 10.17482/uumfd.537729 T2 - Uludağ University Journal of The Faculty of Engineering JF - Journal JO - JOR SP - 1499 EP - 1518 VL - 25 IS - 3 SN - 2148-4147-2148-4155 M3 - doi: 10.17482/uumfd.537729 UR - https://doi.org/10.17482/uumfd.537729 Y2 - 2020 ER -
EndNote %0 Uludağ University Journal of The Faculty of Engineering PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI %A Mustafa Çimen , Gözdem Dural Selçuk , Şule Tarım %T PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI %D 2020 %J Uludağ University Journal of The Faculty of Engineering %P 2148-4147-2148-4155 %V 25 %N 3 %R doi: 10.17482/uumfd.537729 %U 10.17482/uumfd.537729
ISNAD Çimen, Mustafa , Dural Selçuk, Gözdem , Tarım, Şule . "PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI". Uludağ University Journal of The Faculty of Engineering 25 / 3 (December 2020): 1499-1518 . https://doi.org/10.17482/uumfd.537729
AMA Çimen M , Dural Selçuk G , Tarım Ş . PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI. UUJFE. 2020; 25(3): 1499-1518.
Vancouver Çimen M , Dural Selçuk G , Tarım Ş . PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI. Uludağ University Journal of The Faculty of Engineering. 2020; 25(3): 1499-1518.
IEEE M. Çimen , G. Dural Selçuk and Ş. Tarım , "PARANIN ZAMAN DEĞERİ ÇERÇEVESİNDE STOK MALİYETLERİ VE SİPARİŞ KARARLARI", Uludağ University Journal of The Faculty of Engineering, vol. 25, no. 3, pp. 1499-1518, Dec. 2021, doi:10.17482/uumfd.537729