Title: A finite horizon EPQ model for deteriorating items with shortages under permissible delay in payments
Authors: M. Valliathal, R. Uthayakumar
Addresses: Department of Mathematics, Chikkaiah Naicker College, Erode, Tamilnadu, 638004, India. ' Department of Mathematics, Gandhigram University, Gandhigram, Tamilnadu, 624302, India
Abstract: This paper discusses a deterministic finite horizon economic production lot size (EPLS) model for deteriorating items under permissible delay in payments. Shortages are allowed and backlogged partially. Three models are developed over a finite planning horizon. The existence and uniqueness of the optimal solutions of the proposed models are examined. Here, production cycle time, the time at which the shortage begins, production stopping time, shortage ending time and total number of production cycles are taken as decision variables. Numerical examples are given to illustrate the model.
Keywords: economic production lot size; EPLS; partial backlogging; permissible delay; payment delay; deteriorating items; economic production quantity; shortages; finite horizon EPQ; modelling.
International Journal of Applied Decision Sciences, 2010 Vol.3 No.4, pp.338 - 365
Available online: 12 Nov 2010 *Full-text access for editors Access for subscribers Purchase this article Comment on this article