(T, S i ) Policy Inventory Model for Deteriorating Items with Time Proportional Demand

Dave, Upendra; Patel, L. K.

doi:10.2307/2581261

Cited by 38 publications

(32 citation statements)

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“…Deb and Chaudhri (1986) derived inventory model with time-dependent deterioration rate. Dave and Patel (1994) studied an inventory model for deteriorating items without shortages and the time-dependent demand patterns. Ting and Chung (1994) analyzed the inventory replenishment model for deteriorating items with a linear trend in demand considering shortages.…”

Section: Introduction and Literature Reviewmentioning

confidence: 99%

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Rajan¹,

Uthayakumar

2017

J Ind Eng Int

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In this paper we develop an economic order quantity model to investigate the optimal replenishment policies for instantaneous deteriorating items under inflation and trade credit. Demand rate is a linear function of selling price and decreases negative exponentially with time over a finite planning horizon. Shortages are allowed and partially backlogged. Under these conditions, we model the retailer's inventory system as a profit maximization problem to determine the optimal selling price, optimal order quantity and optimal replenishment time. An easy-to-use algorithm is developed to determine the optimal replenishment policies for the retailer. We also provide optimal present value of profit when shortages are completely backlogged as a special case. Numerical examples are presented to illustrate the algorithm provided to obtain optimal profit. And we also obtain managerial implications from numerical examples to substantiate our model. The results show that there is an improvement in total profit from complete backlogging rather than the items being partially backlogged.

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Section: Introduction and Literature Reviewmentioning

confidence: 99%

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Rajan¹,

Uthayakumar

2017

J Ind Eng Int

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“…Manna and Chaudhuri (2006) developed an order level inventory system for deteriorating items with demand rate as a ramp type function of time. Various type of inventory models for items deterioration at a constant rate were discussed by Roychowdhury and Chaudhuri (1983), Teng et al (2011), Shah and Jaiswal (1977), Dave (1986), Dye et al (2007). In real business transactions trade credit is important payment behaviour so that the decisions of inventory system should involve the investment and finance of working capital.…”

Section: Introductionmentioning

confidence: 99%

Optimal ordering policy under two stage trade credits financing for deteriorating items using discounted cash flow approach

Tripathi

2017

IJPMB

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This paper develops an inventory model under two levels of trade credit policy by assuming the demand is a function of credit period offered by the retailer to the customers for deteriorating items using discounted cash flow (DCF) approach. Mathematical model is then developed to determine the optimal replenishment policy for the retailer. Next, we show that the total annual cost per unit time is a convex function of cycle time. We then provide an algorithm to find the optimal solution. We use numerical example to illustrate the algorithm. Finally, sensitivity analysis of the optimal solution with respect to the parameters of the system and some managerial implications are provided.Keywords: deterioration; inventory; credit-linked demand; credit period; discounted cash flow; DCF; two-level credit policy.Reference to this paper should be made as follows: Tripathi, R.P. (2017) 'Optimal ordering policy under two stage trade credits financing for deteriorating items using discounted cash flow approach', Int.

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“…Basu and Sinha (2007) discussed inventory model with Weibull deterioration and demand rate as a linear function of time. Dave and Patel (1981) considered deterioration as a constant fraction of on hand inventory. By taking linear trend in demand under two different assumptions on backlogging, Goswami and Choudhuri (1992) discussed inventory model.…”

Section: Introductionmentioning

confidence: 99%

A study on inventory model with negative exponential demand and probabilistic deterioration under backlogging

Saha¹,

Sen²

2017

10.5267/j.uscm

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The present study is an attempt to develop an inventory model for deteriorating items with negative exponential demand. Shortages are allowed with partial back logging. This model is different from the existing models where deterioration is a function of time. Accordingly, three different types of probabilistic deterioration functions have been considered to find the associated decision variables and also to make comparisons among them. The optimality is illustrated with numerical values of system parameters and the graphical representations are given to depict the trend. The necessary observations in obtaining optimal values of decision variables are analyzed in the light of the practical aspect of the developed model. Finally, considering the numerical values of system parameters, sensitivity analyses are carried out to study the effect of changes in most important system parameters.Growing Science Ltd. All rights reserved. 7

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(T, S i ) Policy Inventory Model for Deteriorating Items with Time Proportional Demand

Cited by 38 publications

References 0 publications

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Optimal ordering policy under two stage trade credits financing for deteriorating items using discounted cash flow approach

A study on inventory model with negative exponential demand and probabilistic deterioration under backlogging

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