Inventory management is an important thing to be considered in order run the activities of a company smoothly. By considering deterioration factor, partial backlogging policy and different type demand functions, we develop mathematical model for multi-item inventory system. In this paper, three models with constant deterioration, backlogging, various functions are developed. We consider invento...

Purpose: The purpose of this paper to develop an inventory model for instantaneous deteriorating items with the consideration of the facts that the deterioration rate can be controlled by using the preservation technology (PT) and the holding cost & demand rate both are linear function of time which was treated as constant in most of the deteriorating inventory model. Design/methodology/approac...

This paper develops an economic lot-sizing production model for deteriorating items with time dependent quadratic demand and delay in payments under two levels of trade credit policy. The trade credit policy adopted here is a two-level trade credit policy in which the supplier offers the retailer a permissible delay period M, and the retailer in turn provides customers a permissible delay perio...

in this article, a finite horizon, multi product and multi period economic order quantity like seasonal items is considered where demand rate is deterministic and known but variable in each period. the order quantities of items come in batch sizes and the end of the period order quantity and, consequently, demand of customers are zero. in addition, storage space is constrained and the problem ...

Recently, Skouri et al. (2009) proposed two inventory models with general ramp-type demand rate, Weibull deterioration rate, and partial backlogging of unsatisfied demand: (a) Model 1 was starting with no shortages, and Model 2 was starting with shortages. They derived the optimal solutions for both models. Then they ran 2 numerical examples, and concluded that ”the total cost for the model sta...

We propose an alternative algorithm for solving continuous review inventory model problems for deteriorating items over a finite horizon. Our interest focuses on the case of time–dependent demand and backlogging rates, limited or infinite warehouse capacity and taking into account the time value of money. The algorithm is based on Particle Swarm Optimization and it is capable of computing the n...

Abstract: The one-stage credit policy is a situation that arises, under a permissible delay in payments, when the supplier offers a credit period to the retailer, but the latter does not offer any credit period to his/her customers. However, this type of credit policy is debatable in most business transactions. In reality, the retailer also adopts the credit policy to stimulate his/her own dema...

Holistic, quality, and sustainability-based inventory policy for perishable items may prove to be a game-changer amid great concern over the carbon footprint global economic crises. In this paper, first-in-first-out (FIFO) last-in-first-out (LIFO) dispatching policies have been used examine effect of quality on fresh products' sales mind sustainability concern. The these products worsens with a...

A finite horizon inventory model for a single deteriorating product is studied. The system is under periodic review and there is a positive fixed order cost associated with any placed order. The demand in successive periods is independent and identically distributed. A constant fraction of any positive leftover stock is deteriorated at the end of each period. Any unsatisfied demand is partially...

In practice, the supplier often offers the retailers a trade credit period M and the retailer in turn provides a trade credit period N to her/his customer to stimulate sales and reduce inventory. From the retailer’s perspective, granting trade credit not only increases sales and revenue but also increases opportunity cost (i.e., the capital opportunity loss during credit period) and defau...