An integrated production inventory model for perishable products with trade credit period and investment in preservation technology

Shilpy Tayal · S.R. Singh · R. K. Sharma

44 citations0/0 files storedInternational Journal of Mathematics in Operational Research

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Supply Chain and Inventory Management Sustainable Supply Chain Management Optimization and Mathematical Programming

Abstract

In this paper we develop an integrated production-distribution model for deteriorating items in a two-echelon supply chain. The objective of this study is to develop an integrated inventory policy when the retailer invests on the preservation technology to reduce the product rate of deterioration and to investigate the model under conditions of permissible delay in payment and allowable shortages. This paper incorporates the concept of a credit period and develops a new inventory model to reflect real-life situations. Exact cost functions for the supplier, the buyer and the entire supply chain are developed. We outline a procedure for determining the optimal supply chain decisions with the objective of minimising the total system cost. Our approach is illustrated through a numerical example. Sensitivity analysis is also presented to illustrate this model.

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References

2003Optimal retailer's ordering policies in the EOQ model under trade credit financing 2009Preservation technology investment for deteriorating inventory 2003An integrated multi-lot-size production inventory model for deteriorating item 2001An EOQ inventory model for items with Weibull distribution deterioration, ramp type demand rate and partial backlogging 2013Two echelon supply chain model for deteriorating items with effective investment in preservation technology

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2018Joint pricing, inventory, and preservation decisions for deteriorating items with stochastic demand and promotional efforts 2024An inventory model under power pattern demand having trade credit facility and preservation technology investment with completely backlogged shortages 2016An EOQ model with variable holding cost and partial backlogging under credit limit policy and cash discount 2020Preservation technology investment for an inventory system with variable deterioration rate under expiration dates and price sensitive demand 2020An effective approach for optimization of a perishable inventory system with uncertainty in both demand and supply 2023Fresh-Keeping Decision and Coordination of Fresh Agricultural Product Supply Chain Considering Carbon Cap-and-Trade under Different Dominance

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