Journal ArticleDOI
Deteriorating inventory model with finite production rate and two-level of credit financing for stochastic demand
TLDR
An inventory model for deteriorating items with finite production rate and stochastic demand rate is developed when the supplier offers delay period to the retailer for due payment against purchases and the retailer in turn extends the trade credit offer to its customers as mentioned in this paper.Abstract:
An inventory model for deteriorating items with finite production rate and stochastic demand rate is developed when the supplier offers delay period to the retailer for due payment against purchases and the retailer in turn extends the trade credit offer to its customers. This policy of passing on of the credit period is well known as two-level of credit financing. Items in the system follow stochastic demand behavior that are produced with finite production rate and subjected to constant rate of deterioration. The model is developed with an objective to minimize total expected cost of retailer as it is assumed to be a dominant player in the supply chain. Necessary and sufficient conditions for existence and uniqueness of the optimal solution are obtained and established to minimize the retailer’s total expected cost. Results obtained are validated with the help of numerical examples. Sensitivity analysis of various parameters is carried out to gain meaningful managerial insights.read more
Citations
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Journal ArticleDOI
Literature review of deteriorating inventory models by key topics from 2012 to 2015
TL;DR: An up-to-date review of perishable inventory models, but also of the joint key topics of publications from January 2012 until December 2015 in the research area of deteriorating inventory models is given.
Journal ArticleDOI
State-of-the-art literature review on inventory models for perishable products
TL;DR: A systemic review of perishable inventory models along various dimensions to fill the gap in the perishable Inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.
Two-echelon Supply Chain Model for Deteriorating Items in an Imperfect Production System with Advertisement and Stock Dependent Demand under Trade Credit
Sujata Saha,Tripti Chakrabarti +1 more
TL;DR: In this article, a two-echelon supply chain model for deteriorating items, consisting of a single manufacturer and a single retailer, where the customer's demand to the retailer depends on advertisement and the displayed stock level of the retailer, is presented.
Journal ArticleDOI
Optimal inventory policy in hospitals: a supply chain model
TL;DR: In this paper, a health care system consisting of multiple hospitals, a distribution center and one regular and one outsourcing suppliers of medicine for the distribution center is considered, and the expected cost function of entire supply chain is formulated considering holding cost, shortage cost, outsourcing cost and preservation cost.
Journal ArticleDOI
Retailer’s replenishment and credit policies for deteriorating inventory under credit period-dependent demand and bad-debt loss
TL;DR: In this paper, a mathematical model is formulated to determine the optimal replenishment time and credit period under two levels of trade credit financing when the demand and bad-debt loss depend on the length of the credit period.
References
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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
Probabilistic time-scheduling model for an exponentially decaying inventory when delays in payments are permissible
TL;DR: In this paper, a probabilistic time-scheduling model for an exponentially decaying inventory was developed for an exponential decaying inventory when the supplier offers some credit period T ∗ for settling the accounts for the purchase quantity The credit period is known constant Mathematical models were derived for both the cases (i) T∗ ⩽ T and (ii) T ∆ > T Expressions are derived for the total average expected cost of the system, the optimum cycle time and the time for obtaining optimum order levels, S = S 0, under each case under each
Journal ArticleDOI
Economic order quantity model for deteriorating items with planned backorder level
TL;DR: This study is one of the first attempts by researchers to solve a deteriorating inventory problem with a simplified approach and the optimal solutions are compared with the classical methods for solving deteriorating inventory model.
Journal Article
Inventory models and trade credit: a review
TL;DR: In this paper, a review of quantitatively oriented approaches for determining the optimal lot-size when a plier offers credit period to the retailer to settle their account is presented, focusing on descriptions of the types of problems that have been solved and important structural results.
Journal ArticleDOI
The Inventory Replenishment Policy for Deteriorating Items Under Permissible Delay in Payments
TL;DR: In this article, the inventory replenishment policy for deteriorating items under a permissible delay in payments is discussed, and the inventory system discussed by this paper is the same as that of Shah [Cahiers du CERO, volume 35 (1993), 115-123].
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