Supply chain model for deteriorating items with stock-dependent consumption rate and shortages under inflation and permissible delay in payment

DOI10.1504/IJMOR.2010.033442MaRDI QIDQ991878zbMATH OpenFDO

Authors Chandra K. Jaggi, A. Khanna

Publication date 8 September 2010

Published in International Journal of Mathematics in Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1504/IJMOR.2010.033442

zbMATH Keywords

deteriorating itemsdeteriorationinflationinventory managementmodellingpermissible delaySCMshortagesstock-dependent demandsupply chain management

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05) Management decision making, including multiple objectives (90B50) Production theory, theory of the firm (91B38) Corporate finance (dividends, real options, etc.) (91G50)

Review text

Summary: In today's world the financial decisions of any business/retail enterprise are very crucial, as from the financial standpoint, an inventory i.e., stock on display represents a capital investment and must compete with other assets for a firm's limited capital funds. Moreover, rising inflation rate directly affects the financial situation of an organization. On the contrary, the today's market is totally customer oriented which forces the retailer to invest more on stock in order to attract more and more customers. Further, this situation becomes more challenging when the retailer is dealing with deteriorating items. Apart from all this, the trade credit also plays a vital role in the financial decision making, as it helps in reducing the costs of holding stock. Keeping such a scenario in mind, this paper develops an inventory model for deteriorating items with stock-dependent consumption rate and allowable shortages under inflation and permissible delay in payments. Finally the model has been validated through numerical examples.

Recommendations

• Supply chain models for perishable products under inflation and permissible delay in payment
• Inflationary induced EOQ model for Weibull distribution deterioration and trade credits
• An inventory model for deteriorating items with stock-dependent demand and time-value of money when credit period is provided
• An EOQ model for deteriorating items with price dependent demand and permissible delay in payments under inflation
• An inventory model for deteriorating items with price dependent demand and delay in payments under stochastic inflation rate

Cited in

(7)

• Supply chain model with stock dependent demand, quadratic rate of deterioration with allowable shortage
• A two-warehouse inventory model for deteriorating items under permissible delay in payment with partial backlogging
• Analysis of a busy period queuing system with balking, reneging and motivating
• An application of PSO in a two-warehouse inventory model for deteriorating item under permissible delay in payment with different inventory policies
• An economic order quantity (EOQ) inventory model for a deteriorating item with interval-valued inventory costs, price-dependent demand, two-level credit policy, and shortages
• An inventory model of a three parameter Weibull distributed deteriorating item with variable demand dependent on price and frequency of advertisement under trade credit
• Supply Chain Networks Design for Deteriorating Items under Advance Payment and Backordering

This page was built for publication: Supply chain model for deteriorating items with stock-dependent consumption rate and shortages under inflation and permissible delay in payment

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q991878)