Many entrepreneurs use different ways to offer credit to enhance long term profit as well as relations with their customers. Order-size dependent credit period is one of them that encourage customers to order large lots to grab more credits in payments. Since display of items play positive role in boosting demand, stock dependent demand is assumed in the proposed model. Ordering large lots can create space issue so the proposed model presents a rented warehouse along with owned one. Rented warehouse is used only when owned warehouse is utilized, completely. Here we propose an integrated inventory model with capacity utilization dependent holding cost to optimize joint profit of supplier and retailer. An algorithm is developed to determine the optimal replenishment policies in order to enhance total profit of supply chain under different ordering schemes. Total joint profit for supplier and retailer is optimized using MATLAB 2015. Numerical examples are presented to illustrate the solution procedure and the results. Sensitivity analysis for some key parameters is carried out to demonstrate the influence of different parameters on over-all profit and cycle time. The proposed model is applicable to fast moving consumer goods (FMCG) and home textile industry.
Reviewing the evolutionary trend of the models used in design and development of mechatronic products reveals the necessity for integration of the design characteristics and requirements in various engineering fields. Such products should agilely embrace rapid, persistent and complex requirements in competitive environments. This research aims to develop an integrated model for designing and developing mechatronic products within the context of agile production system. The study tries to eliminate unnecessary stages of design and simulation of products and increase the number of tested ideas. This suggests a distinction between product innovation and product improvement cycles and thus makes employing a pre-active approach to responding possible. Since the term “mechatronic products” is often used interchangeably with “robots”, one of the most commonly used types of them, i.e. tracer robot is considered as the statistical population for the proposed study. By choosing experimental (laboratory) research method, two categories of tracer robots are created: the tracer robots based on the V-model as the only integrated existing model and the robots based on the W-model as the model proposed by this study with a sample size of 35 sets in each group. The results indicate that both method provide acceptable validity although one model seems to perform better than the other one.