A note on 'a two-warehouse partial backlogging inventory model for deteriorating items with permissible delay in payment under inflation' Online publication date: Tue, 11-Oct-2022
by Hui-Ling Yang
International Journal of Operational Research (IJOR), Vol. 45, No. 2, 2022
Abstract: In order to satisfy the customer demand, we know that many fashionable product or high-tech electronic items do not allow shortages at the beginning of the replenishment cycle. Furthermore, if the retailer wants to satisfy the demand and increase sales, they do not hope for shortages to occur at the beginning of the replenishment cycle. Thus, an alternative inventory model which is different from Yang and Chang (2013) is proposed. The inventory model assumes that shortages are allowed at the end of the replenishment cycle, not at the beginning. The aim is also to derive the retailer's optimal replenishment policy that maximises the net present value of the profit per unit time. The presented theoretical results ensure that the optimal solution exists uniquely. Numerical examples and some comprehensive sensitivity analysis are performed. From the numerical results, if the permissible delay period is not long, the proposed model is still practical.
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