In this paper, an EOQ inventory model is depleted not only by time varying demand but also by Weibull distribution deterioration, in which the inventory is permitted to start with shortages and end without shortages. A theory is developed to obtain the optimal solution of the problem; it is then illustrated with the aid of several numerical examples. Moreover, we also assume that the holding co...

Deterministic Economic Order Quantity EOQ models have been studied intensively in the literature, where the demand process is described by an ordinary differential equation, and the objective is to obtain an EOQ, which minimizes the total cost per unit time. The total cost per unit time consists of a “discrete” part, the setup cost, which is incurred at the time of ordering, and a “continuous” ...

This research focuses on supporting the formation of strategic alliances through the concept of cooperative commerce, where suppliers and buyers work together to jointly optimize their businesses. The general goal of this research is to examine existing cooperative commerce models for obstacles that would hinder their successful implementation into modern industrial applications and to address ...

Supply chain management is concerned with the flow of material and information linking across suppliers & users. The coordination among processes plays vital role when different types of products are moving from many suppliers to number of buyers and it turns into more difficult phase when products are deteriorating in nature. Current study employs the same bases to develop a model, where deter...

An EOQ model of inventory for items with linear rate of deterioration is considered, taking the demand rate to be dependent on the stocjk level at any instant of time. The Payments are permitted to be delayed up to certain period of time. Shortages are not allowed. After the certain period, a special discount is permitted to reduce the stock in inventory because if the stock is holded, an inter...

The main purpose of this paper is to investigate the retailer’s optimal replenishment policy under permissible delay in payments within the economic order quantity (EOQ) framework. Previously published articles dealing with optimal order quantity with permissible delay in payments assumed that the supplier only offers the retailer single trade credit period. In fact, most suppliers frequently o...

Researchers in the past have established their inventory lot-size models under trade credit financing by assuming that the demand rate is constant. However, from a product life cycle perspective, it is only in the maturity stage that demand is near constant. During the growth stage of a product life cycle (especially for high-tech products), the demand function increases with time. To obtain ro...

In this note, we consider a variation of the economic order quantity (EOQ) model where cumulative holding cost is a nonlinear function of time. This problem has been studied by Weiss (1982), and we here show how it is an approximation of the optimal order quantity for perishable goods, such as milk, and produce, sold in small to medium size grocery stores where there are delivery surcharges due...