A global optimizing policy for decaying items with ramp-type demand rate under two-level trade credit financing taking account of preservation technology
type: Item
instance of: scholarly article
title: A global optimizing policy for decaying items with ramp-type demand rate under two-level trade credit financing taking account of preservation technology
zbMATH Open document ID: 1263.90007
DOI: 10.1155/2013/126385
author: Shivraj Singh
author: Swati Sharma
published in: Advances in Decision Sciences
publication date: 2013-05-31T00:00:00Z
review text: Summary: An inventory system for deteriorating items, with ramp-type demand rate, under two-level trade credit policy taking account of preservation technology is considered. The objective of this study is to develop a deteriorating inventory policy when the supplier provides to the retailer a permissible delay in payments, and during this credit period, the retailer accumulates the revenue and earns interest on that revenue; also the retailer invests on the preservation technology to reduce the rate of product deterioration. Shortages are allowed and partially backlogged. Sufficient conditions of the existence and uniqueness of the optimal replenishment policy are provided, and an algorithm, for its determination, is proposed. Numerical examples draw attention to the obtained results, and the sensitivity analysis of the optimal solution with respect to leading parameters of the system is carried out.
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 6168873
MaRDI profile type: Publication
Wikidata QID: Q58918329
OpenAlex ID: W1997722985
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DBLP publication ID: journals/jamds/SinghS13
description: scientific article; zbMATH DE number 6168873