•A novel redundancy-reliability allocation problem is proposed for complex systems.•A reliability calculation method based on functionality multi-graph is proposed.•Comparative experiments with ...previous research and a case study are conducted.
Reliability Redundancy Allocation Problem (RRAP) aims to optimize system design with respect to certain resource constraints. For the most of RRAP studies, it is commonly assumed that the subsystems form a series-parallel or bridge structure, while the redundant components in the same subsystem are placed in parallel. To generalize system structures, this paper proposes a novel RRAP for complex systems. The complex system structure is modeled with a graph, where the vertices and edges represent the components and connections between them, respectively. To calculate the system reliability from its structure graph, an automated calculation method based on functionality multi-graph is put forward. The components are classified into various clusters based on the system functionalities they provide, then a multi-graph is constructed by fusing the vertices in the same cluster into a hyper-vertex. Spanning trees are derived from functionality multi-graph, and a validity test is performed to identify valid system configurations. On this basis, a factoring theorem-based algorithm is devised to calculate system reliability. Comparative experiments are carried out on six benchmark problems, the results of which compare favorably to previous RRAP studies. A case study of security system design is also conducted to demonstrate the practicality of our proposed method.
Buyers increasingly offer financing alternatives to their suppliers – so called supply chain finance (SCF) practices for the supply side. Expected benefits however do not always materialize for ...involved actors. Guidance is needed when to provide these SCF practices to suppliers and why to select different types of practices. To provide this guidance, the paper involves an exploratory multiple-case study design including data within eight buyer-supplier-financial service provider triads. The findings explain contextual situations for the provision of SCF practices based on the contingency approach. They distinguish endogenous, relationship-related and exogenous contingencies within the aforementioned triads. Differentiation criteria are determined for the selection of SCF practices along the dimensions ‘time of financing’ (pre- versus post-shipment) and ‘source of funds’ (supply chain internal and external). Testable propositions and key learnings summarize the derived findings and form the basis to develop a contingency framework on SCF practices for the supply side.
•A contingency framework explains preconditions for the application of SCF practices for the supply side.•The SCF framework involves preconditions in the buyer-supplier-service provider triad.•Classification criteria explain the selection of different types of SCF practices.
This article analyze the juridical nature of the negotiable invoice originated by a electronic invoice, in his quality of asset title. This, it will point the relevance that it has for the ...development of electronic factoring in Peru, and the legal aspects that could be object of a better precision.
Este artículo analizará la naturaleza jurídica de la factura negociable originada por una factura electrónica, en su calidad de título valor. Además, se señalará la importancia que representa para el desarrollo del factoring electrónico en el Perú, así como aquellos aspectos normativos que podrían ser objeto de una mayor claridad.
Supply chain finance (SCF) can improve supply chain performance by facilitating longer payment terms for buyers and better access to financing for suppliers. In spite of these clear benefits, there ...is empirical evidence for some hesitation and resistance to SCF adoption, manifesting in an often substantial time lag between a buyer's introduction of SCF and its adoption by all targeted suppliers. Observed adoption processes often resemble the s-shaped Bass-curve suggesting that successful early adoptions support adoption decisions by other suppliers. Based on these observations, we consider supplier SCF adoption decisions within a diffusion model, to obtain insights regarding a buyer's optimal SCF introduction decisions in terms of timing and payment terms. We find that initial payment terms and procurement volume strongly affect the optimal timing of SCF introduction and optimal payment term extensions. The degree to which the buyer can influence suppliers in their adoption decisions affects the optimal introduction timing, but not optimal payment terms. Interestingly, our results suggest that, in spite of the clear benefits, many buyers might be well-advised to postpone their SCF implementations.
Let K be a field. Let f∈Kx1,...,xr and g∈Ky1,...,ys be nonzero elements. If X (resp. Y) is a matrix factorization of f (resp. g), Yoshino had constructed a tensor product (of matrix factorizations) ...⊗ˆ such that X⊗ˆY is a matrix factorization of f+g∈Kx1,...,xr,y1,...,ys. In this paper, we propose a bifunctorial operation ⊗˜ and its variant ⊗˜′ such that X⊗˜Y and X⊗˜′Y are two different matrix factorizations of fg∈Kx1,...,xr,y1,...,ys. We call ⊗˜the multiplicative tensor product of X and Y. Several properties of ⊗˜ are proved. Moreover, we find three functorial variants of Yoshino's tensor product ⊗ˆ. Then, ⊗˜ (or its variant) is used in conjunction with ⊗ˆ (or any of its variants) to give an improved version of the standard algorithm for factoring polynomials using matrices on the class of summand-reducible polynomials defined in this paper. Our algorithm produces matrix factors whose size is at most one half the size one obtains using the standard method.
The principle of equilibrium contains a hope of achieving equilibrium included in an agreement or business contract, where the interests of the individual are guaranteed by objective law, in carrying ...out the agreement there must be a balance of rights and obligations of each party in accordance with the agreement. So far the implementation of factoring agreement refers to article 1338 of the Civil Code following the principle of freedom to make a contract, and if there are problems arising from this institution, legal settlement is possible through a court or through arbitration. It depends on the agreement made by the parties involved. The results showed that the nature of the legal relationship between factor and client is the nature of the legal relationship in the form of a loan agreement, and the fact that the principle of balance does not apply to factoring agreements, this is due to the format and content of the agreement unilaterally determined by factoring , and cannot be negotiated again by the debtor. As a result, the debtor's position is very weak compared to the creditor's position. To realize the principle of balance requires efforts from the government in the form of laws governing the basic rules that must be considered by the parties who wish to enter into factoring agreements. How to cite item: Mochtar, D. (2019). Asas Keseimbangan dalam Pelaksanaan Perjanjian Anjak Piutang (Factoring). Jurnal Cakrawala Hukum, 10(2), 146-155. doi:https://doi.org/10.26905/idjch.v10i2.3558
Asas keseimbangan bermuatan suatu harapan untuk mencapai keseimbangan termasuk dalam suatu perjanjian atau kontrak bisnis, di mana kepentingan individu bersamaan dijamin oleh hukum yang obyektif, di ...dalam melaksanakan perjanjian harus ada keseimbangan hak dan kewajiban dari masing-masing pihak sesuai dengan yang diperjanjikan. Sejauh ini pelaksanaan perjanjian anjak piutang (factoring) mengacu pada pasal 1338 KUH Perdata mengikuti prinsip kebebasan untuk membuat kontrak, serta jika ada masalah yang timbul dari lembaga ini, dimungkinkan penyelesaian hukum melalui pengadilan atau melalui arbitrase. Tergantung pada kesepakatan yang dibuat oleh pihak-pihak yang terlibat. Hasil penelitian menunjukkan bahwa sifat hubungan hukum antara factor dan client adalah sifat hubungan hukum dalam bentuk perjanjian pinjam-meminjam, serta adanya kenyataan yang menunjukkan bahwa asas keseimbangan ternyata tidak berlaku pada perjanjian anjak piutang, hal ini disebabkan format dan isi perjanjian ditetapkan secara sepihak oleh factoring, dan tidak dapat dirundingkan lagi oleh debitur. Akibatnya posisi debitur sangat lemah dibandingkan dengan kedudukan kreditur. Asas keseimbangan diperlukan upaya-upaya dari pemerintah dalam bentuk undang-undang yang mengatur tentang aturan-aturan dasar yang harus diperhatikan oleh para pihak yang berkehendak mengadakan perjanjian anjak piutang (factoring).
This study addresses the factoring contact, which is regulated in different legal systems, and it examines the legal basis of the factoring contact in Palestine since it is considered as an urgent ...necessity that lies in consolidating the legal principles and the legal concept of this contract, and differentiating between the contract for the purchase of commercial rights and similar contracts, in light of the novelty of this contract and the absence of its legalization in Palestine. The importance of the study is in determining the legal basis for this contact in Palestine by comparing it with other similar legal contracts. The study analyzed the legal basis of the contract for the purchase of commercial rights by addressing similar contracts, namely the loan contract, the commercial paper discount contract, the assignment of fulfillment and the agency contract. This study concluded that the factoring contract is different from other similar contracts and the legal adaptation of the factoring contract is various in different legal systems, and therefore, the study recommends that the Palestinian legislator needs to regulate this contract in Palestine.
With the growing importance of sustainability for firms to gain a competitive advantage, an increasing number of companies have adopted various mechanisms to achieve their sustainability goals. Some ...firms have begun to adopt financing mechanisms to encourage the sustainability practice of their suppliers and to improve their supply chain efficiency with a different payment term. We consider two financing mechanisms based on practice, namely, the retailer's advanced payment (AP) model in which the downstream retailer makes an early payment to the upstream supplier within a certain payment term, and the reverse factoring (RF) model in which the downstream retailer cooperates with and encourages a bank to offer a loan to the upstream supplier. To illustrate how these mechanisms improve sustainable development and supply chain efficiency, we develop a model that explicitly captures the impact of payment on the sustainability efforts of suppliers in a supply chain and explores the conditions under which each financing mechanism benefits the players. We describe the equilibrium strategies between the supplier and retailer in each financing mechanism, compare the preferences of each player between the AF and RF models, and find a Pareto zone of a reverse factoring financing plan in which all players prefer model RF over model AP. We also conduct some numerical experiments to show how the payment ratio and payment term of model RF affect supply chain sustainability and efficiency.
•We explore the interaction between payment terms and financing in a stochastic setting.•Financing costs increase non-linearly when payment terms are extended.•The cost of a payment term extension ...depends on operational characteristics.
Reverse factoring—a financial arrangement where a corporation facilitates early payment of its trade credit obligations to suppliers—is increasingly popular in industry. Many firms use the scheme to induce their suppliers to grant them more lenient payment terms. By means of a periodic review base stock model that includes alternative sources of financing, we explore the following question: what extensions of payment terms allow the supplier to benefit from reverse factoring? We obtain solutions by means of simulation optimisation. We find that an extension of payment terms induces a non-linear financing cost for the supplier, beyond the opportunity cost of carrying additional receivables. Furthermore, we find that the size of the payment term extension that a supplier can accommodate depends on demand uncertainty and the cost structure of the supplier. Overall, our results show that the financial implications of an extension of payment terms need careful assessment in stochastic settings.
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