Two inventory models for growing items under different payment policies with deterioration
by Ashish Sharma; Amit Kumar Saraswat
International Journal of Procurement Management (IJPM), Vol. 15, No. 4, 2022

Abstract: Industries of growing items show an upward trend in the production as well as in consumption. Poultry and livestock are good examples of growing items which are both deteriorating and ameliorating in nature. In this study apart from these specific features of growing items, one of the real-world business policies, permission of delay in payment is also considered. Present paper proposed two inventory models, one with the permission of delay in payment and another without it. Concavity of the profit functions with respect to decision variables are discussed analytically for both the models. Solution procedure and numerical examples are provided in order to get the managerial insights. The numerical analysis growth in weight is approximated by Richard's growth function. The numerical analysis predicts that net profit and the initial purchase quantity both increases under the permissible delay payment policy compared to without it. Sensitivity analysis provides important managerial insights.

Online publication date: Wed, 01-Jun-2022

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Procurement Management (IJPM):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email