Binary linear programming in the management of mine receivables (Article) Trzaskus-Zak, B.a , Zak, A.b

25 Dec

Archives of Mining Sciences

Volume 58, Issue 3, September 2013, Pages 941-952

Binary linear programming in the management of mine receivables (Article)

Trzaskus-Zak, B.a, Zak, A.b

a AGH University Of Science And Technology, Faculty Of Mining And Geoengineering, Department Of Economics And Management In Industry, Al. A. Mickiewicza 30, 30-059 Krakow, Poland
b AGH University Of Science And Technology, Faculty Of Applied Mathematics, Department Of Discrete Mathematics, Al. A. Mickiewicza 30, 30-059 Krakow, Poland

View references (14)

Abstract

This paper presents a method of binary linear programming for the selection of customers to whom a rebate will be offered. In return for the rebate, the customer undertakes payment of its debt to the mine by the deadline specified. In this way, the company is expected to achieve the required rate of collection of receivables. This, of course, will be at the expense of reduced revenue, which can be made up for by increased sales. Customer selection was done in order to keep the overall cost to the mine of the offered rebates as low as possible.

Author keywords

Discount; Linear programming method; Rebate; Receivables management; Risk and uncertainty

ISSN: 08607001Source Type: Journal Original language: English
DOI: 10.2478/amsc-2013-0066Document Type: Article

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