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Growing Science » International Journal of Industrial Engineering Computations » A new model for deteriorating items with inflation under permissible delay in payments

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International Journal of Industrial Engineering Computations

ISSN 1923-2934 (Online) - ISSN 1923-2926 (Print)
Quarterly Publication
Volume 5 Issue 3 pp. 365-374 , 2014

A new model for deteriorating items with inflation under permissible delay in payments Pages 365-374 Right click to download the paper Download PDF

Authors: R.P. Tripathi, Manoj Kumar

DOI: 10.5267/j.ijiec.2014.4.006

Keywords: Deterioration rate, Exponential demand rate, Inflation, Inventory model

Abstract: Inflation is an important factor influencing traditional economic order quality models. Marketing strategy depends on inflation due to public demand and availability of the materials. This paper presents an optimal inventory policy for deteriorating items using exponential demand rate under permissible delay in payments. Mathematical model has been derived under two cases: case I: cycle time is greater than or equal to permissible delay period, case II: cycle time is less than permissible delay period by considering holding cost as a function of time. Numerical examples and sensitivity analysis are given to reflect the numerical results. Mathematica software is used for finding optimal solutions.

How to cite this paper
Tripathi, R & Kumar, M. (2014). A new model for deteriorating items with inflation under permissible delay in payments.International Journal of Industrial Engineering Computations , 5(3), 365-374.

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Journal: International Journal of Industrial Engineering Computations | Year: 2014 | Volume: 5 | Issue: 3 | Views: 2289 | Reviews: 0

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