Title :
The optimal ordering quantity with uncertain food´s safety environment
Author :
Shu-Yen Hsu ; Lin, Tyrone T.
Author_Institution :
Dept. of Bus. Adm., Nat. Dong Hwa Univ., Hualien, Taiwan
Abstract :
Under the deterioration of food safety environment of food suppliers and the uncertainty of food safety of the purchased food by individual manufacturer, this study aims to establish a mathematical model standard basis as a reference for decision evaluation on the optimal order quantity of food raw materials to satisfy the maximum expected returns, according to the food safety situations and market acceptance (optimistic/normal/pessimistic), thus affecting procurement costs and selling prices.
Keywords :
costing; food safety; procurement; decision evaluation; food raw materials; food suppliers; market acceptance; optimal ordering quantity; procurement costs; selling prices; uncertain food safety environment; Analytical models; Business; Mathematical model; Numerical models; Raw materials; Safety; Standards; Uncertain food safety environment; decision-making; expected profit; food raw material suppliers; optimal order quantity;
Conference_Titel :
Industrial Engineering and Engineering Management (IEEM), 2014 IEEE International Conference on
DOI :
10.1109/IEEM.2014.7058589