Inventory model for deteriorating items with ramp type demand under permissible delay in payment

Title

Inventory model for deteriorating items with ramp type demand under permissible delay in payment

Creator

Sharma A.; Kaushik J.

Description

Permissible delay in payment is a common method of payment often used by the suppliers and it generally leads to higher sales and ultimately higher revenue. This method is significant in the case of deteriorating products. In this paper, an inventory model for the deteriorating items with price and time-dependent ramp type demand is presented with shortages allowed and partially backlogged. The solution procedure is illustrated by numerical examples. The concavity of the profit function with respect to the decision variable is discussed analytically. Numerical analysis shows that the profit per unit time increases with the delay payment facility. Copyright 2021 Inderscience Enterprises Ltd.

Source

International Journal of Procurement Management, Vol-14, No. 5, pp. 578-595.

Date

2021-01-01

Publisher

Inderscience Publishers

Subject

Deterioration; Nonlinear demand function; Permissible delay; Shortage

Coverage

Sharma A., Department of Mathematics, Institute of Applied Sciences and Humanities, GLA University, NH-2, Mathura, 281406, India; Kaushik J., Department of Mathematics, Institute of Applied Sciences and Humanities, GLA University, NH-2, Mathura, 281406, India, Department of Data Science, CHRIST (Deemed to be University), 30 Valor Court, Dasve Cir, Lavasa, India

Rights

Restricted Access

Relation

ISSN: 17538432

Format

Online

Language

English

Type

Article

Identifier

https://doi.org/10.1504/IJPM.2021.117292

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