Optimal ordering policies for non-instantaneous Weibull deteriorating items with price linked demand under trade credits
by R.P. Tripathi; Hari Shyam Pandey
International Journal of Supply Chain and Inventory Management (IJSCIM), Vol. 3, No. 2, 2020

Abstract: The occurrence of numerous markets creates gainful opportunities to vendors and buyers. In this regard, this paper consists of the joint relationship between price sensitive demands with Weibull allocation decline. This study is annoyed by Soni (2013) considering Weibull distribution deterioration with two parameter under trade credits. Mathematical model is established for finding optimal cycle time and total turnover considering three cases for each situation depending on the position of time after which item starts to deteriorate and credit period. The objective of this investigation is to find the optimal total profit over cycle time. Further, we use numerical examples and sensitive analysis to illustrate the results and conclude the paper with suggestion for possible future research. Mathematica 7.1 software is used for numerical results.

Online publication date: Mon, 11-May-2020

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