A mathematical model to investigate the interactive effects of important economic factors on the behaviors of retailers

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dc.authoridErfan Babaee Tirkolaee / 0000-0003-1664-9210en_US
dc.authorscopusidErfan Babaee Tirkolaee / 57196032874en_US
dc.authorwosidErfan Babaee Tirkolaee / U-3676-2017en_US
dc.contributor.authorKhakbaz, Amir
dc.contributor.authorTirkolaee, Erfan Babaee
dc.date.accessioned2022-12-30T08:21:52Z
dc.date.available2022-12-30T08:21:52Z
dc.date.issued2022en_US
dc.departmentİstinye Üniversitesi, Mühendislik ve Doğa Bilimleri Fakültesi, Endüstri Mühendisliği Bölümüen_US
dc.description.abstractCost management is a key step to the success of any logistics system and supply chain management. Inventory costs are an important part of logistics costs which are highly affected by economic factors such as demand growth rate (DGR), interest rate (ir), and inflation rate (e). Analyzing the interactive effects of these economic factors plays a key role in preventing failures of logistics systems This study aims to develop a novel mathematical model and investigate the interactive effects of these factors on the behavior of retailers in Iran. To the best of our knowledge, this is the first time that the sale price is defined as a function of time and inflation rate where the demand rate is built up with a linear function of time. Different scenarios and sub-scenarios are then taken into consideration based on different combinations of factors and assumptions. As the main findings of the study, it is revealed that if e < 18% or ir > 40.52%, holding costs are much higher than buying costs, and retailers are reluctant to invest in inventories. Given that DGR is independent of the inflation rate, and also if e > 20.45% or ir < 31.9%, then DGR fluctuations have no impact on the total cost. Hence, in this case, buying costs are much higher than holding costs, and retailers are eager to invest in inventories instead of bank deposits. Furthermore, it is concluded that decision-makers can use the interest rate as leverage to set the probability of shortages and hoardings. Finally, some useful future research directions are discussed based on the main limitations of the study.en_US
dc.identifier.citationKhakbaz, A., & Tirkolaee, E. B. (2022). A mathematical model to investigate the interactive effects of important economic factors on the behaviors of retailers. Annals of Operations Research, 1-25.en_US
dc.identifier.doi10.1007/s10479-022-05116-1en_US
dc.identifier.issn0254-5330en_US
dc.identifier.issn1572-9338en_US
dc.identifier.scopus2-s2.0-85143608267en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.urihttp://dx.doi.org/10.1007/s10479-022-05116-1
dc.identifier.urihttps://hdl.handle.net/20.500.12713/3786
dc.identifier.wosWOS:000897368800001en_US
dc.identifier.wosqualityQ2en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.indekslendigikaynakPubMeden_US
dc.institutionauthorTirkolaee, Erfan Babaee
dc.language.isoenen_US
dc.publisherSPRINGERen_US
dc.relation.ispartofANNALS OF OPERATIONS RESEARCHen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectLogistic Systemen_US
dc.subjectCost Managementen_US
dc.subjectMathematical Modelen_US
dc.subjectInterest Rateen_US
dc.subjectDemand Growth Rateen_US
dc.titleA mathematical model to investigate the interactive effects of important economic factors on the behaviors of retailersen_US
dc.typeArticleen_US

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