Abstract:
In this paper, we have developed an inventory model for deteriorating item with permissible delay in payment. Demand function dependent on the selling price and frequency of advertisement cost. Partially backlogged shortages are allowed and backlogged rate dependent on the duration of waiting time up to arrival of next lot. The corresponding model have been formulated and solved. Three numerical examples have been considered to illustrate the model. Finally sensitivity analyses have been carried out taking one parameter at a time and other parameters as same. Keywords:
Inventory,deterioration,partially backlogged shortages,permissible delay in payment,
Refference:
1. Haley C.W., Higgins H.C., Inventory policy and trade credit financing, Manage.
Sci. 20 (1973) 464-471.
2. Goyal S.K., Economic order quantity under conditions of permissible delay in
payments, J. Oper. Res. Soc. 36 (1985) 35–38.
3. Aggarwal S.P., Jaggi C.K., Ordering policies of deteriorating items under
permissible delay in payments, J. Oper. Res. Soc. 46 (1995) 658–662.
4. Jamal A.M.M., Sarker B.R., S. Wang, An ordering policy for deteriorating
items with allowable shortages and permissible delay in payment, J. Oper. Res.
Soc. 48 (1997) 826-833.
5. Hwang H., Shinn S.W., Retailer’s pricing and lot sizing policy for exponentially
deteriorating products under the condition of permissible delay in payments,
Comp. Oper. Res. 24 (1997) 539–547.
6. Chang C. T., Ouyang L. Y., Teng J. T., An EOQ model for deteriorating items
under supplier credits linked to ordering quantity, Appl. Math. Model. 27
(2003) 983–996.
7. Abad P. L., Jaggi C. K., A joint approach for setting unit price and the length
Of the credit period for a seller when end demand is price sensitive, Int. J.
Prod. Econ. 83 (2003) 115–122.
8. Ouyang L. Y., Wu K. S., Yang C. T., A study on an inventory model for non
instantaneous deteriorating items with permissible delay in payments, Comp.
Ind. Eng. 51 (2006) 637–651.
9. Huang Y. F., An inventory model under two levels of trade credit and limited storage
space derived without derivatives, Appl. Math. Model. 30 (2006) 418 436.
10. Huang Y.F., Economic order quantity under conditionally permissible delay in
payments, Euro. J. Oper. Res. 176 (2007) 911– 924.
11. Huang Y. F., Optimal retailer’s replenishment decisions in the EPQ model
under two levels of trade credit policy, Euro. J. Oper. Res. 176 (2007) 1577–1591.
12. Das B., Maity K., Maiti M., A two warehouse supply-chain model under
possibility/ necessity/credibility measures, Math. Comp. Model. 46 (2007) 398–409.
13. Niu B., Xie J. X., A note on Two-warehouse inventory model with Deterioration
under FIFO dispatch policy, Euro. J. Oper. Res. 190 (2008) 571-577.
14. Rong M., Mahapatra N. K., Maiti M., A two warehouse inventory model for a
deteriorating item with partially/fully backlogged shortage and fuzzy lead time,
Euro. J. Oper. Res. 189 (2008) 59–75.
15. Dey J. K., Mondal S. K., Maiti M., Two storage inventory problem with
dynamic demand and interval valued lead-time over finite time horizon under
inflation and time-value of money, Euro. J. Oper. Res. 185 (2008) 170–194.
16. Hsieh T. P., Dye C. Y., Ouyang L.Y., Determining optimal lot size for a two
warehouse system with deterioration and shortages using net present value,
Euro. J. Oper. Res. 191 (2008) 182-192.
17. Maiti M. K., Fuzzy inventory model with two warehouses under possibility
measure on fuzzy goal, Euro. J. Oper. Res. 188 (2008) 746–774.
18. Jaggi C. K., and Verma P., Joint optimization of price and order quantity with
shortages for a two-warehouse system, Top (Spain), 16 (2008) 195-213.
19. Sana S. S., Chaudhuri K. S., A deterministic EOQ model with delays in
payments and price-discount offers, Euro. J. Oper. Res.184 (2008) 509–533.
20. Huang Y. F., Hsu K. H., An EOQ model under retailer partial trade credit
policy in supply chain, Int. J. Prod. Econ. 112 (2008) 655–664.
21. Ho C. H., Ouyang L.Y., Su C. H., Optimal pricing, shipment and payment
policy for an integrated supplier–buyer inventory model with two-part trade
credit, Euro. J. Oper. Res. 187 (2008) 496–510.
22. Lee C. C., Hsu S. L., A two-warehouse production model for deteriorating
inventory items with time-dependent demands, Euro. J. Oper. Res. 194 (2009)
700–710.
23. Jaggi C. K., Aggarwal K. K., Verma P., Inventory and pricing strategies for
deteriorating items with limited capacity and time proportional backlogging
rate, Int. J. Oper. Res. 8(3) (2010) 331-354.
24. Jaggi C. K., Khanna A., Supply chain models for deteriorating items with
stock-dependent consumption rate and shortages under inflation and
permissible delay in payment, Int. J. Math. Opera. Res. 2(4) (2010) 491-514.
25. Jaggi C. K., Kausar A., Retailer’s ordering policy in a supply chain when demand
is price and credit period dependent, Int. J. Strat. Dec. Sci. 2(4) (2011) 61-74.
26. Bhunia A. K., Shaikh A. A., A two warehouse inventory model for deteriorating
items with time dependent partial backlogging and variable demand dependent on
marketing strategy and time, International Journal of Inventory Control and
Management, 1 (2011), 95-110.
27 Bhunia A. K., Pal P., Chattopadhyay S., Medya B. K., An inventory model of
two-warehouse system with variable demand dependent on instantaneous
displayed stock and marketing decisions via hybrid RCGA, Int. J. Ind. Eng.
Comput. 2(2) (2011) 351-368.
28. Jaggi C. K., Khanna A., Verma P., Two-warehouse partially backlogging
inventory model for deteriorating items with linear trend in demand under
inflationary conditions, Int. J. Syst. Sci. 42(7) (2011) 1185-1196.
29. Jaggi C. K., Mittal M., Retailer’s ordering policy for deteriorating items with
initial inspection and allowable shortages under the condition of permissible
delay in payments, Int. J. Appl. Ind. Eng. 1(1) (2012) 64-79.
30. Yang H. L., (2012), ‘Two-warehouse partial backlogging inventory models with
three-parameter weibull .distribution deterioration under inflation’ International
Journal of Production Economics, 138, 107-116.
31. Bhunia A. K., and Shaikh A. A., Maiti A. K., Maiti M., A two warehouse
deterministic inventory model for deteriorating items with a linear trend in time
dependent demand over finite time horizon by Elitist Real-Coded Genetic Algorithm,
International Journal Industrial Engineering and Computations, 4(2013), 241-258
32. Bhunia A. K., Shaikh A. A., Gupta R. K., A study on two-warehouse partially
backlogged deteriorating inventory models under inflation via particle swarm
optimization, International Journal of System Science. (to appear) 2013.
33. Yang H. L., Chang C. T., A two-warehouse partial backlogging inventory model for
deteriorating items with permissible delay in payment under inflation’, Applied
Mathematical Modelling, 37(2013), 2717-2726.
34. Chung K. J., Huang T. S., The optimal retailer’s ordering policies for
deteriorating items with limited storage capacity under trade credit financing,
Int. J. Prod. Econ. 106 (2007) 127–145.
35. Liang Y., Zhou F., A two-warehouse inventory model for deteriorating items
under conditionally permissible delay in payment, Appl. Math. Model. 35
(2011) 2221-2231.
36. 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.
37. Shah N. H., Patel A. R., Lou K. R., Optimal ordering and pricing policy for
price sensitive stock-dependent demand under progressive payment scheme,
International Journal Industrial Engineering Computations, 2(2011), 523-532.
View
Download