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2018 | 113 | 20-30
Article title

Inventory Model for Deteriorating Items under Trade Credit and Inflation

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Languages of publication
EN
Abstracts
EN
In this paper, we put forward two warehouse inventory model considering trade credit and inflation. Demand rate is function of time. The inventory costs in rented warehouse are more than in owned warehouse. Shortages are allowed and backlogged. The purpose of this model is to calculate the time of order optimizing the total cost of the system. Numerical example explain the model. Sensitivity analysis is also carried to check the stability of the model.
Year
Volume
113
Pages
20-30
Physical description
Contributors
author
  • Department of Applied Sciences, KIET Group of Institutions, Ghaziabad, India
  • Department of Applied Sciences, KIET Group of Institutions, Ghaziabad, India
References
  • [1] Bhunia, A.K., Jaggi, C.K., Sharma, A., & Sharma, R. A two-warehouse inventory model for deteriorating items under permissible delay in payment with partial backlogging, Applied Mathematics and Computation, 232 (2014) 1125–1137.
  • [2] Hartley, V.R Operations Research-A Managerial Emphasis. Good Year Publishing Company, California, (1976) 315–317.
  • [3] Palanivel, M., Sundararajan,R. and Uthayakumar. Two warehouse inventory model with non-instantaneously deteriorating items, stock dependent demand, shortages and inflation. Journal of Management Analytics, 3(2) (2016) 152–173.
  • [4] Sett, B.K, Sarkar, B.,& Goswami, A.A two warehouse inventory model with increasing demand and time varying deterioration, Scientia Iranica, 19(6) (2012) 1969–1977.
  • [5] Jaggi, C.K.& Verma,P .Two warehouse inventory model for deteriorating items with linear trend in demand and shortages under inflationary conditions, International Journal of Procurement Management, 3(1) (2010) 54–71.
  • [6] Chen, L.H. & Kang, F.S. Integrated inventory models considering permissible delay in payment and variant pricing strategy, Applied Mathematical Modeling, 34(1)(2010)36-46.
  • [7] Chung, K.J. A theorem on the determination of economic order quantity under conditions of permissible delay in payments, Computers and Operations Research, 25(1) (1998) 49-52.
  • [8] Chung, K.J. & Liao, J.J. Lot-sizing decisions under trade credit depending on the ordering quantity, Computers and Operations research, 31(6) (2004) 909-928.
  • [9] Chung, K.J., Lin, S.D and Srivastava, H.M.The inventory models under conditional trade credit in a supply chain system, Applied Mathematical Modeling, 37(24) (2013) 10036-10052.
  • [10] Majumder, P, Bera, U. K. & Maiti, M. An EPQ model for two warehouses in unremitting release pattern with two-level trade credit period concerning both supplier and retailer, Applied Mathematics and Computation, 274 (2016) 430-458.
  • [11] Shah, N.H. Inventory model for deteriorating items and time value of money for a finite time horizon under permissible delay in payments, International Journal of System Sciences, 37 (2006) 9-15.
  • [12] Yang, Y. & Zhou, F. A two-warehouse inventory model for deteriorating items under conditionally permissible delay in payment, Applied Mathematical Modeling, 35 (2011) 21-2231.
Document Type
article
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.psjd-cd8b9ffd-02d4-4aec-b9fb-316fa52a49ab
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