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Optimal Ordering Policy with Stock-Dependent Demand Rate under Permissible Delay in Payments
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R.P. Tripathi *   , S.M. Mishra |
| Department of Mathematics, Graphic Era University, Dehradun, India , tripathi_rp023l@rediffmail.com |
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Abstract: (26018 Views) |
| 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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| Keywords: Inventory, Stock-dependent demand, Permissible delay, Order quantity |
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Full-Text [PDF 714 kb]
(34882 Downloads)
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Type of Study: Original |
Subject:
Production/Inventory
Received: 2012/03/20 | Accepted: 2013/06/22 | Published: 2014/10/31
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