An EOQ inventory model for non-instantaneous deteriorating item with constant demand under progressive financial trade credit facility

Monalisha Tripathy (), Geetanjali Sharma () and Anuj Kumar Sharma ()
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Monalisha Tripathy: Banasthali Vidyapith
Geetanjali Sharma: Banasthali Vidyapith
Anuj Kumar Sharma: Shyam Lal College, University of Delhi

OPSEARCH, 2022, vol. 59, issue 4, No 1, 1215-1243

Abstract: Abstract In this paper, the authors are considering an inventory model for non-instantaneous deteriorating items where progressive trade credit policy plays a major role. This model is developed in financial environment considering various realistic financial scenarios. The aim of this work is to develop a profit function by considering various situations depending on the trade credit period in economic environment. During this process, to illustrate the robustness of the model, a number of realistic cases, sub cases and scenarios are examined. An algorithm is established to obtain the average profit, the replenishment time and the optimal order quantity. A comprehensive sensitivity analysis has been performed on the optimal case, which is obtained by solving the hypothetical numerical examples.

Keywords: Inventory theory; Non-instantaneous deterioration; Progressive trade credit; Different financial scenario; EOQ model; Profit Function (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s12597-022-00573-5

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