An EOQ model with delay in payments and time varying deterioration rate
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TLDR
The author develops an EOQ model for time varying deterioration rate where demand and deterioration rate are both time-dependent and the profit function of the model is maximized.About:
This article is published in Mathematical and Computer Modelling.The article was published on 2012-02-01 and is currently open access. It has received 243 citations till now. The article focuses on the topics: Economic order quantity & Purchasing.read more
Citations
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Proceedings ArticleDOI
A Price Discount Scheme for Non-Instantaneous Inventory System with Shortage
TL;DR: In this paper , an EOQ model for a non-instantaneous inventory system in a three-stage inventory level is presented, and sensitivity analyses are carried out to illustrate the effectiveness of the key parameters.
Journal ArticleDOI
An Optimal Replenishment Policy for the EPQ Model with Permissible Delay in Payments
Shih-Ming Ou,Kuo-Kuang Chang +1 more
TL;DR: In this paper, the authors developed an inventory model that incorporates a delay in payments to minimize the total inventory-relevant cost, and the optimal replenishment policy of the proposed model was identified by utilizing the global optimum conditions and non-constrained quadratic nonlinear programming.
Journal ArticleDOI
A Net Present Value Approach in Developing Optimal Replenishment Policies with Allowable Shortages for a Product Life Cycle
TL;DR: A net present value approach is utilized to devise replenishment policy with allowable shortages in the finite planning horizon by considering a general, time-varying, continuous, deterministic demand function for a product life cycle.
Journal ArticleDOI
Unit purchase cost sensitive model for linearly time dependent degradable items with variable demand under trade credits
Rajesh Kumar,Anand Chauhan +1 more
TL;DR: In this article , economic ordering policies are considered for linear time-dependent deteriorating items and unit purchase cost, the variable demand rate is presented, trade credits are also used for the benefits of buyer and supplier.
References
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Journal ArticleDOI
How Many Parts to Make at Once
TL;DR: Experience has shown one manager a way to determine the economical size of lots, and interest on capital tied up in wages, material and overhead sets a maximum limit to the quantity of parts which can be profitably manufactured at one time.
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Recent trends in modeling of deteriorating inventory
TL;DR: The motivations, extensions and generalizations of various models in each sub-class have been discussed in brief to bring out pertinent information regarding model developments in the last decade.
Journal ArticleDOI
Economic Order Quantity under Conditions of Permissible Delay in Payments
TL;DR: In this article, a mathematical model for obtaining the economic order quantity for an item for which the supplier permits a fixed delay in settling the amount owed to him is presented, and an example has been solved to illustrate the method.
Journal ArticleDOI
Survey of Literature on Continuously Deteriorating Inventory Models
TL;DR: A complete and up-to-date survey of published inventory literature for the deteriorating (decaying) inventory models and a classification scheme is presented along with suggestions for future research.