optimal economic ordering policy for deteriorating items under two-level trade credit and inflation
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abstract
in this paper, we develop an inventory model with delay in payments for deteriorating items. in our model, retailer who purchases the items enjoys a fixed credit period offered by his/her supplier and, in turn, also offers a credit period to his/her customers in order to promote the market competition. the demand is assumed to be linear function of the retailer's current-stock level. the effect of both inflation and time value of money are taken into account. the items start deteriorating from the moment they are put into the inventory. the mathematical model is developed and numerical example is presented to illustrate optimization.
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Article history: Received 1 November 2012 Received in revised form 23 July 2013 Accepted 29 November 2013 Available online 13 February 2014
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Journal title:
مدیریت زنجیره تأمینجلد ۱۶، شماره ۴۵، صفحات ۰-۰
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