An EOQ model for deteriorating items under permissible delay in payments when supply is random

An EOQ model for deteriorating items under permissible delay in payments when supply is random

0.00 Avg rating0 Votes
Article ID: iaor20061116
Country: Cuba
Volume: 26
Issue: 2
Start Page Number: 157
End Page Number: 168
Publication Date: May 2005
Journal: Revista de Investigacin Operacional
Authors: ,
Keywords: economic order, deteriorating items
Abstract:

In classical economic order quantity model, it is assumed that the quantity requisitioned is same as the quantity ordered, payment of the goods is made as soon as it is received by the system and units in inventory are not subject to deterioration. In the present article, an attempt is made to develop an inventory model when retailer announces delay in payments, units in inventory are subject to constant rate of deterioration under random input. A developed model is supported by a hypothetical numerical to study interdependence of parameters on the decision variables and objective function.

Reviews

Required fields are marked *. Your email address will not be published.