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A Partial Backlogging Inventory Model for Non-Instantaneous Decaying Items under Trade Credit Financing Facility


Affiliations
1 Centre for Mathematical Sciences, Banasthali Vidyapith, Near Sharda Mandir, Tonk District, Vanasthali - 304022, Rajasthan, India
2 Department of Mathematics, Dr. A. P. J Abdul Kalam Technical University, IET Campus, Sitapur Road, Lucknow - 226021, Uttar Pradesh, India
 

Background/Objectives: In this model we investigate and analyzing an inventory model for non-instantaneous decaying items are considered under permissible delay in payments for retailer’s optimal replenishment policy. Statistical Analysis: Inventory models play most influential role in analyzing many realistic situations into the picture like, vegetable and food markets, oil exploration industries, warehouses, market yards, etc. In the most inventory organizations are usually formed without considering the effect of deterioration of items but here we have considered variable deterioration, linear demand and unsatisfied demand is partially backlogged. Findings: The model is solved analytically by minimize the retailer’s total cost w.r.to specific value of the parameters. Application/Improvements: Three conditions of allowable delay in payments are discussed. Sensitivity analysis of the model with different parameter is use to discover the most favorable solution.

Keywords

Linear Demand, Non-Instantaneous Deterioration, Partial Backlogging, Permissible Delay in Payments.
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  • A Partial Backlogging Inventory Model for Non-Instantaneous Decaying Items under Trade Credit Financing Facility

Abstract Views: 148  |  PDF Views: 0

Authors

Agarwal Anchal
Centre for Mathematical Sciences, Banasthali Vidyapith, Near Sharda Mandir, Tonk District, Vanasthali - 304022, Rajasthan, India
Sangal Isha
Centre for Mathematical Sciences, Banasthali Vidyapith, Near Sharda Mandir, Tonk District, Vanasthali - 304022, Rajasthan, India
Rani Smita
Department of Mathematics, Dr. A. P. J Abdul Kalam Technical University, IET Campus, Sitapur Road, Lucknow - 226021, Uttar Pradesh, India

Abstract


Background/Objectives: In this model we investigate and analyzing an inventory model for non-instantaneous decaying items are considered under permissible delay in payments for retailer’s optimal replenishment policy. Statistical Analysis: Inventory models play most influential role in analyzing many realistic situations into the picture like, vegetable and food markets, oil exploration industries, warehouses, market yards, etc. In the most inventory organizations are usually formed without considering the effect of deterioration of items but here we have considered variable deterioration, linear demand and unsatisfied demand is partially backlogged. Findings: The model is solved analytically by minimize the retailer’s total cost w.r.to specific value of the parameters. Application/Improvements: Three conditions of allowable delay in payments are discussed. Sensitivity analysis of the model with different parameter is use to discover the most favorable solution.

Keywords


Linear Demand, Non-Instantaneous Deterioration, Partial Backlogging, Permissible Delay in Payments.



DOI: https://doi.org/10.17485/ijst%2F2016%2Fv9i34%2F116704