Table of Contents
Journal of Industrial Engineering
Volume 2013, Article ID 672504, 18 pages
http://dx.doi.org/10.1155/2013/672504
Research Article

An Inventory Model with Finite Replenishment Rate, Trade Credit Policy and Price-Discount Offer

1Department of Applied Mathematics with Oceanology and Computer Programming, Vidyasagar University, Midnapore 721-102, India
2Department of Mathematics, Bhangar Mahavidyalaya, University of Calcutta, Kolkata 743-502, India
3Department of Mathematics, Jadavpur University, Kolkata 700-032, India

Received 25 December 2012; Revised 19 May 2013; Accepted 22 May 2013

Academic Editor: Paul C. Xirouchakis

Copyright © 2013 Biswajit Sarkar et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Linked References

  1. F. W. Harris, “How many parts to make at once factory,” The Magazine of Management, vol. 10, pp. 135–136, 1913. View at Google Scholar
  2. W. A. Donaldson, “Inventory replenishment policy for a linear trend in demand: an analytical solution,” Operational Research Quarterly, vol. 28, pp. 663–670, 1977. View at Google Scholar
  3. S. K. Goyal, “On improving replenishment policies for linear trend in demand,” Engineering Costs and Production Economics, vol. 10, no. 1, pp. 73–76, 1986. View at Google Scholar · View at Scopus
  4. A. Goswami and K. S. Chaudhuri, “EOQ model for deteriorating items with shortages and a linear trend in demand,” Journal of the Operational Research Society, vol. 42, no. 12, pp. 1105–1110, 1991. View at Google Scholar · View at Scopus
  5. S. K. Goyal, D. Morin, and F. Nebebe, “Finite horizon trended inventory replenishment problem with shortages,” Journal of the Operational Research Society, vol. 43, no. 12, pp. 1173–1178, 1992. View at Google Scholar · View at Scopus
  6. M. A. Hariga and L. Benkherouf, “Optimal and heuristic inventory replenishment models for deteriorating items with exponential time-varying demand,” European Journal of Operational Research, vol. 79, no. 1, pp. 123–137, 1994. View at Google Scholar · View at Scopus
  7. H. M. Wee, “A deterministic lot-size inventory model for deteriorating items with shortages and a declining market,” Computers and Operations Research, vol. 22, no. 3, pp. 345–356, 1995. View at Google Scholar · View at Scopus
  8. S. Khanra and K. S. Chaudhuri, “A note on an order-level inventory model for a deteriorating item with time-dependent quadratic demand,” Computers and Operations Research, vol. 30, no. 12, pp. 1901–1916, 2003. View at Publisher · View at Google Scholar · View at Scopus
  9. S. Sana and K. S. Chaudhuri, “On a volume flexible production policy for a deteriorating item with time-dependent demand and shortages,” Advanced Modeling and Optimization, vol. 6, no. 1, pp. 57–74, 2004. View at Google Scholar
  10. L. E. Cárdenas-Barrón, “Optimal ordering policies in response to a discount offer: corrections,” International Journal of Production Economics, vol. 122, pp. 783–789, 2009. View at Google Scholar
  11. B. Sarkar, S. S. Sana, and K. Chaudhuri, “An imperfect production process for time varying demand with inflation and time value of money—an EMQ model,” Expert Systems with Applications, vol. 38, no. 11, pp. 13543–13548, 2011. View at Publisher · View at Google Scholar · View at Scopus
  12. P. L. Abad, “Determining optimal selling price and lot size when suppliers offers all unit quantity discounts,” Decision Science, vol. 19, pp. 622–634, 1988. View at Google Scholar
  13. K. H. Kim and H. Hwang, “An incremental discount pricing schedule with multiple customers and single price break,” European Journal of Operational Research, vol. 35, no. 1, pp. 71–79, 1988. View at Google Scholar · View at Scopus
  14. S. K. Goyal, “Economic order quantity under conditions of permissible delay in payments,” Journal of the Operational Research Society, vol. 36, no. 4, pp. 335–338, 1985. View at Google Scholar · View at Scopus
  15. S. P. Aggarwal and C. K. Jaggi, “Ordering policies of deterioration items under permissible delay in payments,” Journal of the Operational Research Society, vol. 46, pp. 658–662, 1995. View at Google Scholar
  16. P. Chu, K.-J. Chung, and S.-P. Lan, “Economic order quantity of deteriorating items under permissible delay in payments,” Computers and Operations Research, vol. 25, no. 10, pp. 817–824, 1998. View at Google Scholar · View at Scopus
  17. A. M. M. Jamal, B. R. Sarker, and S. Wang, “Optimal payment time for a retailer under permitted delay of payment by the wholesaler,” International Journal of Production Economics, vol. 66, no. 1, pp. 59–66, 2000. View at Google Scholar · View at Scopus
  18. J.-T. Teng, “On the economic order quantity under conditions of permissible delay in payments,” Journal of the Operational Research Society, vol. 53, no. 8, pp. 915–918, 2002. View at Publisher · View at Google Scholar · View at Scopus
  19. F. J. Arcelus, N. H. Shah, and G. Srinivasan, “Retailer's pricing, credit and inventory policies for deteriorating items in response to temporary price/credit incentives,” International Journal of Production Economics, vol. 81-82, pp. 153–162, 2003. View at Publisher · View at Google Scholar · View at Scopus
  20. Y.-F. Huang, “Economic order quantity under conditionally permissible delay in payments,” European Journal of Operational Research, vol. 176, no. 2, pp. 911–924, 2007. View at Publisher · View at Google Scholar · View at Scopus
  21. Y.-F. Huang, “Optimal retailer's replenishment decisions in the EPQ model under two levels of trade credit policy,” European Journal of Operational Research, vol. 176, no. 3, pp. 1577–1591, 2007. View at Publisher · View at Google Scholar · View at Scopus
  22. L. E. Cárdenas-Barrón, “The derivation of EOQ/EPQ inventory models with two backorders costs using analytic geometry and algebra,” Applied Mathematical Modelling, vol. 35, no. 5, pp. 2394–2407, 2011. View at Publisher · View at Google Scholar · View at Scopus
  23. H.-M. Teng, P.-H. Hsu, Y. Chiu, and H. M. Wee, “Optimal ordering decisions with returns and excess inventory,” Applied Mathematics and Computation, vol. 217, no. 22, pp. 9009–9018, 2011. View at Publisher · View at Google Scholar · View at Scopus
  24. B. Sarkar, “An EOQ model with delay in payments and stock dependent demand in the presence of imperfect production,” Applied Mathematics and Computation, vol. 218, no. 17, pp. 8295–8308, 2012. View at Publisher · View at Google Scholar · View at Scopus
  25. B. Sarkar, “An EOQ model with delay in payments and time varying deterioration rate,” Mathematical and Computer Modelling, vol. 55, no. 3-4, pp. 367–377, 2012. View at Publisher · View at Google Scholar · View at Scopus
  26. K. Forghani, A. Mirzazadeh, and M. Rafiee, “A price-dependent demand model in the single period inventory system with price adjustment,” Journal of Industrial Engineering, vol. 2013, Article ID 593108, 9 pages, 2013. View at Publisher · View at Google Scholar