We developed an inventory model for decaying items with selling price dependent demand in inflationary environment. Deterioration rate is taken as two parameter Weibull distribution. Shortages in inventory are allowed with partial backlogging. Backlogging rate is taken as exponential decreasing function of time. Profit maximization technique is used in this study.

In this paper, an inventory model with finite and constant replenishment rate, price dependant demand rate, time value of money and inflation, finite time horizon, lead time and exponential deterioration rate and with the objective of maximizing the present worth of the total system profit is developed. Using a dynamic programming based solution algorithm, the optimal sequence of the cycles can...

This paper considers the impact of inflation on the EPQ model for deteriorating items subject to random machine breakdowns and fixed maintenance period. The demand rate is assumed to be a function of inflation and the demand increase due to inflation. The objective is to determine the optimal production uptime that minimizes the present value of expected total costs per unit time consisting of ...

In this paper, we derive a partial backlogging inventory model for noninstantaneous deteriorating items with stock-dependent demand rate under inflation over a finite planning horizon. We propose a mathematical model and theorem to find minimum total relevant cost and optimal order quantity. Numerical examples are used to illustrate the developed model and the solution process. Finally, a sensi...

In today’s competitivemarkets, most firms in United Kingdom and United States offer their products on trade credit to stimulate sales and reduce inventory. Trade credit is calculated based on time value of money on the purchase cost (i.e., discounted cash flow analysis). Recently, many researchers use discounted cash flow analysis only on the purchase cost but not on the revenue (which is signi...

This paper presents an inventory model for deteriorating items with stock-dependent selling rate under inflation and time value of money over a finite planning horizon. In the model, shortages are allowed and the unsatisfied demand is partially backlogged at the exponential rate with respect to the waiting time. We establish the theoretical results and provide an efficient solution procedure to...

A deterministic inventory model with two levels of storage (own warehouse and rented warehouse) with non-instantaneous deteriorating items is studied. The supplier offers the retailer a trade credit period to settle the amount. Different scenarios based on the deterioration and the trade credit period have been considered. In this article, we have framed two models considering single warehouse ...

This study investigates the impact of monetary policy on balance of payments (BOP) adjustment in Nigeria within the periods, 1980-2015. The study used the bound testing approach to show the relationship that exists among monetary policy variables (money supply, domestic credit, inflation and exchange rate), output growth, and trade balance and BOP adjustment in Nigeria. The study shows that the...

in paper (2004) chang studied an inventory model under a situation in which the supplier provides the purchaser with a permissible delay of payments if the purchaser orders a large quantity. tripathi (2011) also studied an inventory model with time dependent demand rate under which the supplier provides the purchaser with a permissible delay in payments. this paper is motivated by chang (2004) ...