EOQ model for deteriorating items with stock-level-dependent demand rate and order-quantity-dependent trade credit
type: Item
instance of: scholarly article
title: EOQ model for deteriorating items with stock-level-dependent demand rate and order-quantity-dependent trade credit
zbMATH Open document ID: 1407.90028
DOI: 10.1155/2014/962128
author: Jie Min
author: Jian Ou
author: Yuanguang Zhong
author: Xinbao Liu
published in: Mathematical Problems in Engineering
publication date: 2019-02-08T00:00:00Z
review text: Summary: This paper develops a generalized inventory model for exponentially deteriorating items with current-stock-dependent demand rate and permissible delay in payments. In the model, the payment for the item must be made immediately if the order quantity is less than the predetermined quantity; otherwise, a fixed trade credit period is permitted. The maximization of the average profit per unit of time is taken as the inventory system's objective. The necessary and sufficient conditions and some properties of the optimal solution to the model are developed. Simple solution procedures are proposed to efficiently determine the optimal ordering policies of the considered problem. Numerical example is also presented to illustrate the solution procedures obtained.
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 7017722
Wikidata QID: Q59071188
MaRDI profile type: Publication
full work available at URL: https://doi.org/10.1155/2014/962128
OpenAlex ID: W2128803212
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description: scientific article; zbMATH DE number 7017722