Inventory policies for maximum fixed life-time product with quadratic demand under permissible delay in payments for a single supplier-two retailers Online publication date: Tue, 24-Jul-2018
by Nita H. Shah; Mrudul Y. Jani; Urmila Chaudhari
International Journal of Business Performance and Supply Chain Modelling (IJBPSCM), Vol. 10, No. 1, 2018
Abstract: In this article, we study inventory policies with permissible delay in payment from a single supplier to two retailers. We consider the product with maximum fixed-life time deterioration as loss of utility is the real scenario of products like fruits, vegetables, juices, etc. Here, time dependent quadratic demand is discussed which is suitable for the products whose demand increases primarily and afterward it starts to decrease. First, we discuss the centralised inventory system in which supplier and retailers willingly take joint decision. Next we address the model with decentralised policy in which supplier and both retailers take individual decisions. The objective is to minimise the total cost in centralised and decentralised policy with respect to cycle times of supplier and two retailers. The model is supported with numerical examples. Sensitivity analysis is carried out to derive insights for decision-maker.
Online publication date: Tue, 24-Jul-2018
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 Business Performance and Supply Chain Modelling (IJBPSCM):
Login with your Inderscience username and 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 email@example.com