Article ID: | iaor198856 |
Country: | India |
Volume: | 25 |
Issue: | 4 |
Start Page Number: | 272 |
End Page Number: | 278 |
Publication Date: | Dec 1988 |
Journal: | OPSEARCH |
Authors: | Goyal S.K., Bhatt S.K. |
In this paper a method is presented for determining the optimal ordering policy when a supplier gives a prior notice to the purchaser of an increase in the unit price of the product. A total cost model is developed which incorporates the two commonly known purchasing strategies. An example is solved to illustrate the method.