Determination of optimal pricing, shipment and payment policies for an integrated supplier buyer deteriorating inventory model in buoyant market with two-level trade credit

Shah, Nita H.; Gor, Ajay S.; Jhaveri, Chetan A.

doi:10.1504/ijor.2011.040693

Cited by 12 publications

(1 citation statement)

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“…Mahata (2012) developed a supply chain EOQ inventory model with partial trade credit financing and exponentially deteriorating items. Shah et al (2011) determined the optimal pricing, shipment and payment policies for an integrated deteriorating inventory model in buoyant market with two-level trade credit. Sharma et al (2015) investigated the effects of price sensitive demand for deteriorating items in an EPQ model with shortages.…”

Section: Literature Reviewmentioning

confidence: 99%

The EOQ model with items of imperfect quality and replenishment from different suppliers

Yassine

2021

IJOR

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The classical economic order quantity model is extended to the case where the items may be acquired from various suppliers. It is assumed that any lot size received from a supplier contains perfect and imperfect quality items. The percentage of perfect quality items in a lot size is a random variable having a known probability distribution. The imperfect quality items are detected through a 100% screening process conducted at the start of the inventory cycle. When the screening process is concluded, the imperfect quality items are sold in one batch at a discounted price. A mathematical model is developed to determine the total profit function. The optimal order quantity and proportions of the order acquired from the suppliers are obtained by maximising the total profit function. Iterative numerical algorithms that determine the optimal solution are proposed. Numerical examples are presented to illustrate the calculations in the case when the percentages of imperfect quality items follow the uniform distribution.

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Section: Literature Reviewmentioning

confidence: 99%