A credit policy approach in a two-warehouse inventory model for deteriorating items with price- and stock-dependent demand under partial backlogging
الموضوعات :
Gobinda Chandra Panda
1
(Department of Mathematics, Mahavir Institute of Engineering and Technology, BBSR, Paniora, India)
Md. Al-Amin Khan
2
(Department of Mathematics, Jahangirnagar University, Savar, Dhaka, 1342, Bangladesh)
Ali Akbar Shaikh
3
(Department of Mathematics, The University of Burdwan, Burdwan, 713104, India)
الکلمات المفتاحية: EOQ model . Deterioration . Trade credit . Price, and stock, dependent demand . Partial backlogged shortages,
ملخص المقالة :
Advertisement of the product is an important factor in inventory analysis. Also, price and stock have an important role to attract more customers in the competitive business situations. Trade credit policy is another important role in inventory analysis. We have combined these three factors together in a two-warehouse inventory model and represented it mathematically. In addition, we have added deteriorating factor of our proposed problem with price- and stock-dependent demand under partial backlogged shortage and solved. The frequency of advertisement is considered constant for a year in this paper. The proposed model is highly nonlinear in nature. Due to highly nonlinearity, we could not find the closed form solution. In this paper, trade credit facility is taken in the perspective of retailer, and all the possible cases and subcases of the model are discussed and solved using lingo 10.0 software. The results of sensitivity analysis prove the effectiveness of the proposed model.
Bhunia AK, Shaikh AA, Gupta RK (2013) A study on two warehouse partially backlogged deterioration inventory models under inflation via particle swarm optimisation. Int J Syst Sci 46(6):1036–1050
Bhunia AK, Jaggi CK, Sharma A, Sharma R (2014a) A two ware house inventory model for deteriorating items under permissible delay in payment with partial backlogging. Appl Math Comp 232:1125–1137
Bhunia AK, Mahato SK, Shaikh AA, Jaggi CK (2014b) A deteriorating inventory model with displayed stock-dependent demand and partially backlogged shortages with all unit discount facilities via particle swarm optimisation. Int J Syst Sci
1(3):164–180
Bhunia AK, Shaikh AA, Sharma G, Pareek S (2015) A two storage inventory model for deteriorating items with variable demand and partial backlogging. J Ind Pro Eng 32(4):263–272
Ca´rdenas-Barro´n LE, Sana SS (2014) A production inventory model for a two echelon supply chain when demand is dependent on sales teams’ initiatives. Int J Prod Econ 155:249–258
Chatterji D, Gothi UB (2015) EOQ model for deteriorating items under two or three parameter Weibull distribution and constant IHC with partially backlogged shortages. Int J Sci Eng Res 4(10):3581–3594
Cheng M, Wang G (2009) A note on the inventory model for deteriorating items with trapezoidal type demand rate. Comput Ind Eng 156(4):1296–1300
Cheng HC, Ho CH, Ouyang LY, Su CH (2009) The optimal pricing and ordering policy for an integrated inventory model when trade credit linked of order quantity. Appl Math Model 33(7):2978–2991
Diabat A, Taleizadeh AA, Lashgari M (2017) A lot sizing model with partial down-stream delayed payment, partial up-stream advance payment, and partial backordering for deteriorating items. J Manuf Syst 45:322–342
Dye CY (2013) The effect of preservation technology investment on a non-instantaneous deteriorating inventory model. Omega 41(5):872–880
Geetha KV, Uthayakumar R (2016) Optimal lot sizing policy for noninstantaneous deteriorating items with price and advertisement dependent demand under partial backlogging. Int J Appl Math Comput 2(2):171–193
Giri BC, Sharma S (2014) Manufacturers pricing strategy in a two level supply chain with competing retailers and advertising cost dependent demand. Eco Model 38:102–111
He Y, Wang SY, Lai KK (2010) An optimal production inventory model for deteriorating items with multiple market demand. Eur J Oper Res 203(3):593–600
Islam ME, Ukil SL, Uddin MS (2016) A time dependent inventory model for exponential demand rate with constant production where shelf-Life of the production is finite. Open J Appl Sci 6:38–48
Jaggi CK, Yadavalli VSS, Verma M (2015) An EOQ model with allowable shortage under trade credit in different scenario. Appl Math Comput 252:541–551
Kumar M, Chauhan A, Kumar R (2012) A deterministic inventory model for deteriorating items with price depended demand and time varying holding cost under trade credit. Int J Soft Comput Eng 2(1):99–105
Lashgari M, Taleizadeh AA, Ahmadi A (2015) A lot-sizing model with partial up-stream advanced payment and partial downstream delayed payment in a three-level supply chain. Ann Oper Res 238:329–354
Lashgari M, Taleizadeh AA, Sana SS (2016) An inventory control problem for deteriorating items with back-ordering and financial considerations under two levels of trade credit linked to order
quantity. J Ind Manag Optim 12(3):1091–1119
Lashgari M, Taleizadeh AA, Sasjadi SJ (2017) Ordering policies for non-instantaneous deteriorating items under hybrid partial prepayment, partial delay payment and partial backordering. J Oper Res Soc. https://doi.org/10.1080/01605682.2017.1390524
Lee CC, Hsu SL (2009) A two ware house production model for deteriorating inventory items with time dependent demands. Eur J Oper Res 194(3):700–710
Liang Y, Zhou F (2011) A two ware house inventory model for deteriorating items under conditionally permissible delay in
payments. Appl Math Model 35(5):2221–2231
Liao JJ, Huang KN (2010) Deterministic inventory model for deteriorating items with trade credit financing and capacity
constraints. Comput Ind Eng 59(04):611–618
Liao JJ, Chung KJ, Huang KN (2013) A deterministic inventory model for deteriorating items with two ware houses and trade credit in a supply chain system. Int J Prod Econ 146(2):557–565
Maihami R, Kamalabadi N (2012a) Joint pricing and inventory control for non-instantaneous deteriorating items with partial backlogging and time and price dependent demand. Int J Prod Econ 136(1):116–122
Maihami R, Kamalabadi IN (2012b) Joint control of inventory and its pricing for non-instantaneously deteriorating items under permissible delay in payments and partial backlogging. Math Comput Model 55(5–6):1722–1733
Maiti MK (2011) A fuzzy genetic algorithm with varying population size to solve an inventory model with credit-linked promotional demand in an imprecise planning horizon. Eur J Oper Res 213(1):96–106
Malik AK, Singh Y (2011) An inventory model for deteriorating items with soft computing techniques and variable demand. Int J Soft Comput Eng 1(5):317–321
Mishra VK, Shing LS (2011) Deteriorating inventory model for time dependent demand and holding cost with partial backlogging. Int J Manag 6(4):267–271
Mondal B, Bhunia AK, Maiti M (2009) Inventory models for defective items incorporating marketing decisions with variable production cost. Appl Math Model 33(6):2845–2852
Mukhopadhyay S, Mukherjee RN, Chaudhuri KS (2004) Joint pricing and ordering policy for a deteriorating inventory. Comput Ind Eng 47(4):339–349
Palanivel M, Uthayakumar R (2015) Finite horizon EOQ model for instantaneous deteriorating items with price and advertisement dependent demand and partial backlogging under inflation. Int J Syst Sci 46(10):1762–1773
Pourmohammad Zia N, Taleizadeh AA (2015) A lot-sizing model with backordering under hybrid linked-to-order multiple advance payments and delayed payment. Transp Res Part E 82:19–37
Sana SS (2016) Optimal Production lot size and reorder point of a two stage supply chain while random demand is sensitive with sales teams initiatives. Int J Syst Sci 47(2):450–465
Sett BK, Sarkar B, Goswami A (2012) A two warehouse inventory model with increasing demand and time varying deterioration. Sci Iran 19(6):1969–1977
Shah NH, Cardenas-Barron LE (2015) Retailer’s decision for ordering and credit policies for deteriorating items when a supplier offers order-linked credit period or cash discount. Appl Math Comput 259:569–578
Singh S, Khurana D, Tayal S (2016) An economic order quantity model for deteriorating products having stock dependent demand with trade credit period and preservation technology. Uncertain Supply Chain Manag 4(1):29–42
Soni H, Shah NH, Jaggi CK (2010) Inventory model and trade credit: a review. Control Cybern 39:867–882
Taleizadeh AA (2014) An economic order quantity model for deteriorating item in a purchasing system with multiple prepayments. Appl Math Model 38:5357–5366
Taleizadeh AA (2017a) Lot sizing model with advance payment and disruption in supply under planned partial backordering. Int Trans Oper Res 24(4):783–800
Taleizadeh AA (2017b) Vendor managed inventory system with partial backordering for evaporating chemical raw material. Sci Iran 24(3):1483–1492
Taleizadeh AA, Nematollahi MR (2014) An inventory control problem for deteriorating items with backordering and financial engineering considerations. Appl Math Model 38(1):93–109
Taleizadeh AA, Pentico DW, Aryanezhad MB, Jabalameli MS (2013) An EOQ problem under partial delayed payment and partial backordering. Omega 41(2):354–368
Taleizadeh AA, Noori-daryan M, Cardenas-Barron LE (2015) Joint optimization of price, replenishment of frequency, replenishment cycle and production rate in vendor managed inventory system with deteriorating items. Int J Prod Econ 159:285–295
Taleizadeh AA, Akram R, Lashgari M, Heydari J (2017) A three-lavel sypply chain with up-stream and down-stream trade credit Periods linked to ordered quantity. Appl Math Model 40:8777–8793
Tavakkoli Sh, Taleizadeh AA (2017) A lot sizing model for decaying item with full advance payment from the buyer and conditional discount from the supplier. Ann Oper Res 259:415–436
