In this paper, a production inventory model is developed for the business enterprise which consists of three wings. The first wing is for manufacturing new items, the second wing is for collecting the returned items, while third wing is for remanufacturing the returned item. In this model we consider the fact that the storage item is deteriorated during storage periods and salvage value is inco...

Extending Ireland’s (1994) model, this paper analyzes an international economy where cash or credit can be used for payment. Foreign trade credit is more costly than its domestic analog. A depreciation of the real exchange rate is associated with an external surplus and a reduced share of imports purchased with credit. Economic growth slows when foreign trade credit becomes the predominant mean...

In a recent article published in European Journal of Operational Research, 162 (2005) 773–785, Moon et al. [1] develop economic order quantity models (A, A1, and B) for deteriorating/ameliorating items which have time-varying demand pattern over a finite planning horizon, taking account of inflation and time value of money. Although the formulation of the total cost function in all the models i...

Modern business environment focuses on improving the operational efficiency of supplier, retailer and customers through integrating their inventory. Although a smoothly running integrated inventory system is ideal, the reality is to deal with imperfectness in transportation. In actual production environments, inventory items are not perfect and defectiveness occurs in random process.  In this p...

We consider a single stage production-inventory system whose production and demand rates are modulated by an environment process modeled as a finite state Continuous Time Markov Chain (CTMC). When the inventory level reaches zero, an order is placed from an external supplier, and it arrives instantaneously. We derive an Economic Order Quantity (EOQ ) policy that minimizes the long-run average c...

In this study a deterministic inventory model for deteriorating items with stock dependent demand is developed. In this model the shortages are allowed and partially backlogged and the effect of inflation rate and delay in payments are discussed. This paper establishes an inventory model for the deteriorating items and stock dependent demand rate under inflation when the supplier offers a permi...

Trade credit is generally used by businesses to obtain external funds. This article demonstrates an inventory system from the retailer’s point of view in which (1) influence trade on expanding small and their consumers focus this research, (2) on-hand follows non-instantaneous deterioration. (3) To maximize profit, demand disclosed, based not just sales price, but also cumulative demand, indica...