While developing the inventory model with shortages under permissible delay in payments, it has been observed in the literature that the researchers have not considered the fact that the retailer can earn interest on the revenue generated after fulfilling the outstanding demand as soon as he receives the new consignment at the start of the cycle. Owing to this fact, the present study investigat...

The significance of the basic idea implicit in the moving horizon control (MHC) has been recognized a long time ago in the operations management literature as a tractable scheme for solving stochastic multi period optimization problems, such as production planning and supply chain management, under the term moving horizon. In this paper, a moving horizon controller with move suppression term us...

In this paper, an inventory replenishment model for deteriorating items is developed. Demand for the item varies with time over a finite planning horizon, during which shortages are allowed and are completely back-ordered. The objective is to determine a replenishment policy that minimizes the total inventory cost. A search procedure based on Genetic Algorithm (GA) is presented and illustrated ...

 This paper presents an inventory model with non-instantaneous receipt under the condition of permissible delay in payments. Certain items like volatiles deteriorate during production process. In this paper, we consider deterioration into two phases i.e. phase 1 and phase 2. The purpose of this paper is to determine the optimal replenishment policies under conditions of non-instantaneous recei...