An EOQ inventory model with stock dependent demand under permissible delay in payment

Singh, Trailokyanath; Pattanayak, Hadibandhu; Nayak, Ameeya Kumar; Sethy, Nirakar Niranjan

doi:10.1504/ijlsm.2017.085883

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“…Considering the quadratic demand as the next realistic approach, Ghosh and Chaudhuri [29], Khanra et al [30] and Singh and Pattnayak [31] developed their inventory models for deteriorating items. Singh et al [32] developed an EOQ model for deteriorating items under permissible delay in payment by considering stock dependent demand.…”

Section: Introductionmentioning

confidence: 99%

An Optimal Policy with Quadratic Demand, Three-Parameter Weibull Distribution Deterioration Rate, Shortages and Salvage Value

Mishra¹,

Singh²,

Pattanayak³

2016

AJCM

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The present paper focuses an optimal policy of an inventory model for deteriorating items with generalized demand rate and deterioration rate. Shortages are allowed and partially backlogged. The salvage value is included into deteriorated units. The main objective of the model is to minimize the total cost by optimizing the value of the shortage point, cycle length and order quantity. A numerical example is carried out to illustrate the model and sensitivity analyses of major parameters are discussed.

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