The effect of credit period on the optimal lot size for deteriorating items with time varying demand and deterioration rates

The effect of credit period on the optimal lot size for deteriorating items with time varying demand and deterioration rates

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Article ID: iaor20071078
Country: Singapore
Volume: 22
Issue: 2
Start Page Number: 211
End Page Number: 227
Publication Date: Jun 2005
Journal: Asia-Pacific Journal of Operational Research
Authors: ,
Keywords: deteriorating items
Abstract:

In this paper, we present an inventory model for deteriorating items with time varying demand and deterioration rates when the credit period depends on the retailer's ordering quantity. We also provide simple solution procedures for finding the optimal replenishment period and show in a rigorous way that the policy suggested is indeed optimal. Further, we use numerical examples to illustrate the model and conclude the paper with suggestions for possible future research.

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