Optimal Ordering Policy with Stock-Dependent Demand Rate under Permissible Delay in Payments
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Abstract:
We develop an inventory model to determine optimal ordering policy under permissible delay in payment by considering demand rate to be stock dependent. Mathematical models are derived under two different cases: credit period being greater than or equal to cycle time for settling the account, and credit period being less than or equal to cycle time for settling the account. The results are illustrated with numerical examples. Sensitivity analysis is given for the proposed model.
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Journal title
volume 4 issue None
pages 209- 217
publication date 2013-10
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