THE EFFECT OF CREDIT PERIOD ON THE OPTIMAL LOT SIZE FOR DETERIORATING ITEMS WITH TIME VARYING DEMAND AND DETERIORATION RATES

Horng-Jinh Chang and Chung-Yuan Dye ()
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Horng-Jinh Chang: Graduate Institute of Management Sciences, Tamkang University, Tamsui, Taipei, Taiwan 25173, ROC
Chung-Yuan Dye: Department of Business Administration, Shu-Te University, Yen Chau Kaohsiung, Taiwan, 824, ROC

Asia-Pacific Journal of Operational Research (APJOR), 2005, vol. 22, issue 02, 211-227

Abstract: In this paper, we present an inventory model for deteriorating items with time varying demand and deterioration rates when the credit period depends on the retailer's ordering quantity. We also provide simple solution procedures for finding the optimal replenishment period and show in a rigorous way that the policy suggested is indeed optimal. Further, we use numerical examples to illustrate the model and conclude the paper with suggestions for possible future research.

Keywords: Credit period; lot size; deteriorating items; time varying demand (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:wsi:apjorx:v:22:y:2005:i:02:n:s0217595905000546

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DOI: 10.1142/S0217595905000546

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