An Inventory Model for Non-Instantaneously Deteriorating Items with Nonlinear Stock-Dependent Demand, Hybrid Payment Scheme and Partially Backlogged Shortages

Md Al-Amin Khan, Ali Akbar Shaikh, Leopoldo Eduardo Cárdenas-Barrón (), Abu Hashan Md Mashud, Gerardo Treviño-Garza and Armando Céspedes-Mota
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Md Al-Amin Khan: Department of Mathematics, Jahangirnagar University, Dhaka 1342, Bangladesh
Ali Akbar Shaikh: Department of Mathematics, The University of Burdwan, Burdwan 713104, India
Abu Hashan Md Mashud: Department of Mathematics, Hajee Mohammad Danesh Science and Technology University, Dinajpur 5200, Bangladesh
Gerardo Treviño-Garza: School of Engineering and Sciences, Tecnologico de Monterrey, Ave. Eugenio Garza Sada 2501, Monterrey 64849, Mexico
Armando Céspedes-Mota: School of Engineering and Sciences, Tecnologico de Monterrey, Ave. Eugenio Garza Sada 2501, Monterrey 64849, Mexico

Mathematics, 2022, vol. 10, issue 3, 1-23

Abstract: This research work presents an inventory model that involves non-instantaneous deterioration, nonlinear stock-dependent demand, and partially backlogged shortages by considering the length of the waiting time under a hybrid prepayment and cash-on-delivery scheme. The corresponding inventory problem is formulated as a nonlinear constraint optimization problem. The theoretical results for the unique optimal solution are presented, and eight special cases are also identified. Moreover, a salient theoretical result is provided: a certain condition where the optimal inventory policy may or may not involve deterioration. Finally, two numerical examples are provided using a sensitivity analysis to show the validity range of the inventory parameters.

Keywords: inventory; non-instantaneous deterioration; partial backlogging; stock-dependent demand (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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