An EOQ model of time quadratic and inventory dependent demand for deteriorated items with partially backlogged shortages under trade credit

Pushpinder Singh · Nitin Kumar Mishra · Vikramjeet Singh · Seema Saxena

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Supply Chain and Inventory Management Sustainable Supply Chain Management Working Capital and Financial Performance

Abstract

In this paper a single buyer, single supplier inventory model with time quadratic and stock dependent demand for a finite planning horizon has been studied. Single deteriorating item which suffers shortage, with partial backlogging and some lost sales is considered. Model is divided into two scenarios, one with non permissible delay in payment and other with permissible delay in payment. Latter is called, centralized system, where supplier offers trade credit to retailer. In the centralized system cost saving is shared amongst the two. The objective is to study the difference in minimum costs borne by retailer and supplier, under two scenarios including the above mentioned parameters. To obtain optimal solution of the problem the model is solved analytically. Numerical example and a comparative study are then discussed supported by sensitivity analysis of each parameter.

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References

2001Recent trends in modeling of deteriorating inventory 1985Economic Order Quantity under Conditions of Permissible Delay in Payments 1986A JOINT ECONOMIC‐LOT‐SIZE MODEL FOR PURCHASER AND VENDOR 1991Survey of Literature on Continuously Deteriorating Inventory Models 1995Ordering Policies of Deteriorating Items under Permissible Delay in Payments 1988“A JOINT ECONOMIC‐LOT‐SIZE MODEL FOR PURCHASER AND VENDOR”: A COMMENT*1997An ordering policy for deteriorating items with allowable shortage and permissible delay in payment 2003Optimal retailer's ordering policies in the EOQ model under trade credit financing

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2022A Supply Chain Inventory Model for Deteriorating Products with Carbon Emission-Dependent Demand, Advanced Payment, Carbon Tax and Cap Policy 2019A green supply chain model for time quadratic inventory dependent demand and partially backlogging with Weibull deterioration under the finite horizon

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