PROBABILISTIC ORDER LEVEL SYSTEM WHEN ITEMS IN INVENTORY DETERIORATE AND DELAY IN PAYMENTS IS PERMISSIBLE
Nita H. Shah ()
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Nita H. Shah: Department of Mathematics, Gujarat University, Ahmedabad — 380009, Gujarat, India
Asia-Pacific Journal of Operational Research (APJOR), 2004, vol. 21, issue 03, 319-331
Abstract:
An order level inventory model is developed for deteriorating items with a constant rate of deterioration and vendor offering delay in payments. The model is developed under probabilistic demand. It is shown that the model derived can be related to the existing model for non-deteriorating items and when delay in payments is not permissible. The model is supported by a probability distribution function.
Keywords: Deterioration; credit period; stochastic demand (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:apjorx:v:21:y:2004:i:03:n:s0217595904000266
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DOI: 10.1142/S0217595904000266
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