A two-warehouse inventory model for deteriorating items under permissible delay in payment with partial backlogging

Bhunia, Asoke Kumar; Jaggi, Chandra K.; Sharma, Anuj Kumar; Sharma, Ritu

doi:10.1016/j.amc.2014.01.115

Cited by 75 publications

(42 citation statements)

References 28 publications

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“…In recent years a lot of work has been done in the two-warehouse inventory system. One may refer to the studies of Zhou and Yang (2005), Lee (2006), Liang and Zhou (2011), Hsieh et al (2008), Niu and Xie, (2008), Lee and Hsu (2009), Jaggi et al (2011) Yang and Chang (2013), Chung and Huang (2007), Liang and Zhou (2011), Bhunia et al (2014) and Jaggi et al (2014).…”

Section: Introductionmentioning

confidence: 99%

Replenishment policy for non-instantaneous deteriorating items in a two storage facilities under inflationary conditions

Jaggi¹,

Tiwari²,

Goel³

2016

10.5267/j.ijiec

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The present study investigates an inventory model for non-instantaneous deteriorating items under inflationary conditions with partially backlogged shortages. In today's market structure consumers are looking for goods for which there is a delay in deterioration. At the same time, the consumers' willingness to wait has been decreased over time, which leads to lost sales. Moreover in financial decision-making, the effects of inflation and time value of money cannot be oblivious to an inventory system. In this scenario, managing inventory of goods remains a challenging task for the decision makers, who may also have to rent warehouse under different prevailing factors such as, bulk discount, limited space in the retail outlet, or increasing inflation rates. With a focus on reduction of costs and increasing customer service, warehouse decision models are crucial for an organization's profitability. Hence a mathematical model has been developed in the view of above scenario, in order to determine the optimal policy for the decision maker, by minimizing the present worth of total cost. The optimization procedure has been illustrated by a numerical example and detailed sensitivity analysis of the optimal solution has been performed to showcase the effect of various parameters. Managerial implications has also been presented to aid the decision making process.

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Section: Introductionmentioning

confidence: 99%

Replenishment policy for non-instantaneous deteriorating items in a two storage facilities under inflationary conditions

Jaggi¹,

Tiwari²,

Goel³

2016

10.5267/j.ijiec

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“…Soni [35] presented optimal replenishment policies for the noninstantaneous deteriorating items considering permissible delay in payment. Recently, a two-warehouse inventory model with permissible delay in payment was developed by Bhunia et al [36].…”

Section: Introductionmentioning

confidence: 99%

Cost Analysis for a Supplier in an Inflationary Environment with Stock Dependent Demand Rate for Perishable Items

Jain

Sharma

Rani³

2014

Advances in Decision Sciences

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The present study is concerned with the cost modeling of an inventory system with perishable multi-items having stock dependent demand rates under an inflationary environment of the market. The concept of permissible delay is taken into account. The study provides the cost analysis of inventory system under the decision criteria of time value of money, inflation, deterioration, and stock dependent demand. Numerical illustrations are derived from the quantitative model to validate the results. The cost of inventory and optimal time are also computed by varying different system parameters. The comparison of these results is facilitated by computing the results with neurofuzzy results.

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“…Guchhaita et al (2013) investigated a two storage inventory model of a deteriorating item with variable demand under partial credit period. Bhunia et al (2014) discussed a two-warehouse inventory model for deteriorating items under permissible delay in payment with partial backlogging. Jaggi et al (2014) considered the credit financing in a two-warehouse environment for deteriorating items with price-sensitive demand and fully backlogged shortages.…”

Section: Introductionmentioning

confidence: 99%

Two-warehouse inventory model for non-instantaneous deteriorating items with partial backlogging and permissible delay in payments under inflation

Palanivel

Uthayakumar

2017

IJOR

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Abstract:In this paper, two-warehouse economic order quantity (EOQ) model for non-instantaneous deteriorating items with permissible delay in payments under the effect of inflation and time value of money is presented in which the demand is considered as a deterministic function of selling price and advertisement cost. Also in this model, shortages are allowed and partially backlogged. The backlogging rate is dependent on the waiting time for the next replenishment. This model aids in minimising the total inventory cost by finding the optimal intervals and the optimal order quantity. Furthermore, numerical examples are provided to illustrate the proposed model, sensitivity analysis of the optimal solutions with respect to major parameters is carried out and some managerial inferences are obtained. To his credit, he has published many research articles in the area of inventory management and supply chain in the reputed international journals. Moreover, he is guiding many scholars in the above said areas. Keywords

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A two-warehouse inventory model for deteriorating items under permissible delay in payment with partial backlogging

Cited by 75 publications

References 28 publications

Replenishment policy for non-instantaneous deteriorating items in a two storage facilities under inflationary conditions

Replenishment policy for non-instantaneous deteriorating items in a two storage facilities under inflationary conditions

Cost Analysis for a Supplier in an Inflationary Environment with Stock Dependent Demand Rate for Perishable Items

Two-warehouse inventory model for non-instantaneous deteriorating items with partial backlogging and permissible delay in payments under inflation

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