An EOQ model for a deteriorating item with non-linear demand under inflation and a trade credit policy

An EOQ model for a deteriorating item with non-linear demand under inflation and a trade credit policy

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Article ID: iaor2006716
Country: Serbia
Volume: 15
Issue: 2
Start Page Number: 209
End Page Number: 220
Publication Date: Jan 2005
Journal: Yugoslav Journal of Operations Research
Authors: ,
Keywords: economic order, inflation
Abstract:

This paper develops an infinite time-horizon deterministic economic order quantity (EOQ) inventory model with deterioration based on discounted cash flows (DCF) approach where demand rate is assumed to be non-linear over time. The effects of inflation and time-value of money are also taken into account under a trade-credit policy of a type “α/T1 net T”. The results are illustrated with a numerical example. Sensitivity analysis of the optimal solution with respect to the parameters of the system is carried out.

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