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 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...

This paper tries to incorporate both Huang s model [Y.F. Huang, Optimal retailer s ordering policies in the EOQ model under trade credit financing, J. Oper. Res. Soc. 54 (2003) 1011–1015] and Teng s model [J.T. Teng, On the economic order quantity under conditions of permissible delay in payments, J. Oper. Res. Soc. 53 (2002) 915–918] by considering the retailer s storage space limited to refle...

In this paper, Economic Order Quantity ( ) based model for non-instantaneous deteriorating items with imperfect quality, permissible delay in payments and inflation is proposed. We adopt a time-dependent demand function. Also, the effects of time value of money are studied using the Discounted Cash Flow approach. Moreover, we assume that orders may contain a random proportion of defective items...

This study presents an inventory model to determine an optimal ordering policy for non-deteriorating items and timedependent demand rate with delay in payments permitted by the supplier under inflation and time discounting. Mathematical models have been derived under two different situations, i.e. Case I: The permissible delay period is less than or equal to replenishment cycle period for settl...

The present study was carried out to investigate Goyal’s model (1985) and Teng’s model (2002) using the algebraic method to determine the optimal cycle time under delay payments. This paper provides algebraic approach that must be considered as a pedagogical advantage for explaining the inventory concept to students that lack knowledge of derivatives. This algebraic approach could therefore be ...