A deterministic inventory model for deteriorating items with two warehouses and trade credit in a supply chain system

Liao, Jui‐Jung; Chung, Kun‐Jen; Huang, Kuo-Nan

doi:10.1016/j.ijpe.2013.08.001

Cited by 47 publications

(26 citation statements)

References 44 publications

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“…Agrawal et al (2013) derived the model with ramp-type demand and partially backlogged shortages for a two-warehouse system. Liao et al (2012Liao et al ( , 2013 developed two-warehouse inventory models under different assumptions. Jaggi et al (2014) discussed under credit financing in a two-warehouse environment for deteriorating items with price-sensitive demand and fully backlogged shortages.…”

Section: Literature Reviewmentioning

confidence: 99%

An EOQ model for non-instantaneous deteriorating items with two levels of storage under trade credit policy

Udayakumar

Geetha

2017

J Ind Eng Int

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A deterministic inventory model with two levels of storage (own warehouse and rented warehouse) with non-instantaneous deteriorating items is studied. The supplier offers the retailer a trade credit period to settle the amount. Different scenarios based on the deterioration and the trade credit period have been considered. In this article, we have framed two models considering single warehouse (Model-I) and two warehouses (Model-II) for non-instantaneous deteriorating items. The objective of this work is to minimize the total inventory cost and to find the optimal length of replenishment and the optimal order quantity. Mathematical theorems have been developed to determine the existence and the uniqueness of the optimal solution. Computational algorithms for the two different models are designed to find the optimal order quantity and the optimal cycle time. Comparison between the optimal solutions for the two models is also given. Numerical illustrations and managerial insights obtained demonstrate the application and the performance of the proposed theory.

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Section: Literature Reviewmentioning

confidence: 99%

An EOQ model for non-instantaneous deteriorating items with two levels of storage under trade credit policy

Udayakumar

Geetha

2017

J Ind Eng Int

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“…Maiti (2011) has introduced a fuzzy genetic algorithm to solve an inventory model with credit-linked promotional demand in an imprecise planning horizon. Kumar et al (2012) have developed a deterministic inventory model for price-dependent demand, and using trade credit under deteriorating environment, Liao et al (2013) also have designed an inventory model with two warehouse systems and introduced trade credit in a supply chain system. Taleizadeh et al (2013) have focused on delay payment system in their model and prepared a deteriorating-inventory model allowing for shortage and backlogged items.…”

Section: Introductionmentioning

confidence: 99%

A credit policy approach in a two-warehouse inventory model for deteriorating items with price- and stock-dependent demand under partial backlogging

Panda¹,

Khan

Shaikh

2018

J Ind Eng Int

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Advertisement of the product is an important factor in inventory analysis. Also, price and stock have an important role to attract more customers in the competitive business situations. Trade credit policy is another important role in inventory analysis. We have combined these three factors together in a two-warehouse inventory model and represented it mathematically. In addition, we have added deteriorating factor of our proposed problem with price-and stock-dependent demand under partial backlogged shortage and solved. The frequency of advertisement is considered constant for a year in this paper. The proposed model is highly nonlinear in nature. Due to highly nonlinearity, we could not find the closed form solution. In this paper, trade credit facility is taken in the perspective of retailer, and all the possible cases and subcases of the model are discussed and solved using lingo 10.0 software. The results of sensitivity analysis prove the effectiveness of the proposed model.

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“…Chun Tao Chung [3] established an EOQ model for deteriorating items under inflation when the supplier offers a permissible delay to the purchaser if the order quantity is greater than or equal to a predetermined quantity. Shah and Shukla [4] developed a deterministic inventory model in which item is subject to constant deterioration and shortages are allowed. Min, J., Zhou, Y. W., & Zhao, J.…”

Section: Introductionmentioning

confidence: 99%

Optimal Ordering Policy for Deteriorating Items Having Constant Demand and Deterioration Rate

Sarbjit¹

2017

TEL

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This study derives an optimal ordering policy for perishable products. Here the demand considered is constant demand and items considered have a constant rate of deterioration. The sensitivity analysis of model has been done and formula for calculating optimal ordering quantity has been derived. The model follows the classical EOQ model, i.e. the point of minima is the point where the total ordering cost is equal to the sum of holding costs and deterioration cost.

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A deterministic inventory model for deteriorating items with two warehouses and trade credit in a supply chain system

Cited by 47 publications

References 44 publications

An EOQ model for non-instantaneous deteriorating items with two levels of storage under trade credit policy

An EOQ model for non-instantaneous deteriorating items with two levels of storage under trade credit policy

A credit policy approach in a two-warehouse inventory model for deteriorating items with price- and stock-dependent demand under partial backlogging

Optimal Ordering Policy for Deteriorating Items Having Constant Demand and Deterioration Rate

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