Article2019

Optimal replenishment decision for retailers with variable demand for deteriorating products under a trade-credit policy

Biswajit Sarkar · Bikash Koli Dey · Mitali Sarkar · Sun Hur · Buddhadev Mandal · Vinti Dhaka

35 citations0/0 files storedRAIRO - Operations Research

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

Abstract

In this study one obtained the optimal decision of a retailer for the replenishment rate with selling-price and credit-period dependent demand to maximize the profit. A time-varying deterioration rate was considered for those products. A credit-period was offered by the retailer to the end customer to settle the whole payments. The aim of the model was to obtain the maximum profit for the retailer based model. A solution methodology with an algorithm was used to obtain the global optimum profit. An illustrative numerical example was given to test the practical applicability of the model. Numerical study indicated that the profit was at a maximum when the permissible delay-period for payment offered by the suppliers was lies between the permissible delay-time, and the cycle time, offered by the retailer.

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References

1985Economic Order Quantity under Conditions of Permissible Delay in Payments 1986A JOINT ECONOMIC‐LOT‐SIZE MODEL FOR PURCHASER AND VENDOR 1977An integrated inventory model for a single supplier-single customer problem 1995Ordering Policies of Deteriorating Items under Permissible Delay in Payments 1997An ordering policy for deteriorating items with allowable shortage and permissible delay in payment 2002On the economic order quantity under conditions of permissible delay in payments 1997Retailer's pricing and lot sizing policy for exponentially deteriorating products under the condition of permissible delay in payments 2003A joint approach for setting unit price and the length of the credit period for a seller when end demand is price sensitive

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2023An inventory model with permissible delay in payment and different interest rate charges 2020Inventory policies for seasonal items with logistic-growth demand rate under fully permissible delay in payment: a neutrosophic optimization approach 2022Research on Technological Innovation Investment, Financing Constraints, and Corporate Financial Risk: Evidence from China 2020Application of Various Price-Discount Policy for Deteriorated Products and Delay-in-Payments in an Advanced Inventory Model

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