2020
DOI: 10.1002/mma.6594
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Economic ordering policy for non‐instantaneous deteriorating items with price and advertisement dependent demand and permissible delay in payment under inflation

Abstract: In recent years, offering credit period by the supplier to the retailer has become a usual strategy. Hence, in the present work, an inventory model for noninstantaneous deteriorating items is framed considering money inflation and time discounting, where a permissible delay period is offered by the supplier as an alternative to price discount. Further, the salvage value associated with deteriorated units is considered, and the shortages allowed are partially backlogged. Focus is made on obtaining the optimal r… Show more

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Cited by 31 publications
(16 citation statements)
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References 28 publications
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“…The article determines a near-optimal and intuitive closed-form solution, which is simple to the practitioners. Under a variety of practical conditions, some researchers have considered the above items, such as Tiwari et al [38], Tsao [39], Geetha and Udayakumar [40], Jaggi et al [41], Maihami et al [42], Mashud et al [43], Bounkhel et al [44], and Udayakumar et al [45].…”
Section: Literature Reviewmentioning
confidence: 99%
“…The article determines a near-optimal and intuitive closed-form solution, which is simple to the practitioners. Under a variety of practical conditions, some researchers have considered the above items, such as Tiwari et al [38], Tsao [39], Geetha and Udayakumar [40], Jaggi et al [41], Maihami et al [42], Mashud et al [43], Bounkhel et al [44], and Udayakumar et al [45].…”
Section: Literature Reviewmentioning
confidence: 99%
“…There are a number of renowned authors who have included trade-credit/permissible delay in payments in their model formulation. A few of them are Jaber and Osman [20], Lashgari et al [26], Pal et al [35], Kim and Sarkar [23], and Udayakumar et al [49].…”
Section: Literature Reviewmentioning
confidence: 99%
“…Sinha et al [26] developed a green supply chain inventory model for the integrated production of new items based on deferred payment contracts. Udayakumar et al [27] framed an inventory model for noninstantaneous deteriorating items considering money inflation and time discounting, where a permissible delay period was offered by the supplier as an alternative to a discount price agreement.…”
Section: Wholesale Price Agreements Andmentioning
confidence: 99%
“…According to equations ( 26) and (27), in decentralized decision-making, the relationships between the manufacturer's expected profit, profit variance, and the fluctuations of import and export exchange rates can be obtained, as shown in Figures 3 and 4. Where the x-axis represents the fluctuations of the export exchange rate σ 2 1 , the y-axis denotes the fluctuations of the import exchange rate σ 2 2 , and the z-axis is the manufacturer's expected profit E(π m ) (Figure 3) or profit variance Var(π m ) (Figure 4).…”
Section: Simulation Analysis On the Expected Profits Of Decision-makers In The Decentralized Supply Chainmentioning
confidence: 99%