An EOQ Model for Deteriorating Items under Trade Credit Policy with Unfaithfulness Nature of Customers

Mondal, Rituparna; Pramanik, Prasenjit; Jana, Ranjan Kumar; Maiti, Manas Kumar; Maiti, Manoranjan

doi:10.1007/978-981-19-2300-5_17

Cited by 1 publication

(1 citation statement)

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“…Das et al (2015) considered the credit period offered by the supplier to the manufacturer as a fuzzy variable and optimized the production run time. Mondal et al (2015) developed the EOQmodel under two-level partial trade credits while considering the demand to be dependent upon the credit period, amount of credit and inventory level, and inventory costs as fuzzy rough in nature. Roy (2015) considered the uncertain cycle time as a triangular fuzzy number and de-fuzzified the optimal results using the signed distance method.…”

Section: Literature Reviewmentioning

confidence: 99%

Inventory Modelling for technology generation products under uncertain trade credit terms and imprecise procurement costs

Nagpal,

Chanda,

Kumar

et al. 2022

OSCM: An Int. Journal

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The inventory policies for any product under the trade credit mechanism are influenced by the procurement price per unit and the credit period offered by the seller to the buyer. This paper develops an inventory model for the technology generations under the imprecise trade credit period and the imprecise procurement cost. It considers the demand that is credit-linked and governed by innovation diffusion as well. The imprecise nature of the parameters is captured by the use of fuzzy numbers. The trapezoidal membership function has been used to fuzzify the profit function with the imprecise parameters, and then the centroid method is used to de-fuzzify the profit. The numerical illustrations have been performed, followed by the sensitivity analysis with the launch timing of the second generation product. A few important implications for the inventory practitioners and the possible extensions of this work have also been discussed.

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Section: Literature Reviewmentioning

confidence: 99%