Inventory model for deteriorating items with ramp type demand under permissible delay in payment
by Ashish Sharma; Jitendra Kaushik
International Journal of Procurement Management (IJPM), Vol. 14, No. 5, 2021

Abstract: Permissible delay in payment is a common method of payment often used by the suppliers and it generally leads to higher sales and ultimately higher revenue. This method is significant in the case of deteriorating products. In this paper, an inventory model for the deteriorating items with price and time-dependent ramp type demand is presented with shortages allowed and partially backlogged. The solution procedure is illustrated by numerical examples. The concavity of the profit function with respect to the decision variable is discussed analytically. Numerical analysis shows that the profit per unit time increases with the delay payment facility.

Online publication date: Tue, 31-Aug-2021

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