Title: An EOQ model for non-instantaneous deteriorating items with two storage facilities under progressive trade credit policy in financial environment

Authors: Monalisha Tripathy; Anuj Kumar Sharma; Geetanjali Sharma

Addresses: Department of Mathematics and Statistics, Banasthali Vidyapith, Newai, Rajasthan – 304022, India ' Department of Mathematics, Shyam Lal College, University of Delhi, Delhi – 110032, India ' Department of Mathematics and Statistics, Banasthali Vidyapith, Newai, Rajasthan – 304022, India

Abstract: In this paper, authors consider the two warehouses inventory models for non-instantaneous deteriorating items by considering progressive trade credit policy. This model is developed in financial environment taking various financial scenarios. The aim of this work is to develop a cost function for various situations depending on the trade credit period in economic environment. Further, to illustrate the robustness of the model, several realistic cases, sub cases and scenarios are studied. An algorithm is established to obtain the average cost, the replenishment time and the optimal order quantity. A comprehensive sensitivity analysis has been performed on the optimal case, which is obtained by solving the hypothetical numerical examples.

Keywords: inventory theory; non-instantaneous deterioration; progressive trade credit; EOQ model; constant demand; financial environment; cost function; two-warehouse.

DOI: 10.1504/IJSOI.2021.117266

International Journal of Services Operations and Informatics, 2021 Vol.11 No.2/3, pp.210 - 239

Received: 26 Apr 2020
Accepted: 30 Nov 2020
Published online: 26 Aug 2021 *

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