EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy

<!DOCTYPE html>    <html>  <head> <meta charset="utf-8" /> <title>EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy</title>  <link rel="shortcut icon" type="image/ico" href="./data/ijsom/coversheet/favicon.ico" />  <meta name="viewport" content="width=device-width, maximum-scale=1, initial-scale=1, user-scalable=0" />   <meta name="keywords" content="Inventory,Deterioration,Constant demand rate,Trade credit,Complete backlogging" /> <meta name="description" content="This paper deals with a deterministic inventory model for deteriorating items under the condition of permissible delay in payments with constant demand rate is a function of time which differs from before and after deterioration for a single item. Shortages are allowed and completely backlogged which is a function of time. Under these assumptions, this paper develops a retailer's model for obtaining an optimal cycle length and ordering quantity in deteriorating items of an inventory model. Thus, our objective is retailer's cost minimization problem to find an optimal replenishment policy under various parameters. The convexity of the objective function is derived and the numerical examples are provided to support the proposed model. Sensitivity analysis of the optimal solution with respect to major parameters of the model is included and the implications are discussed." /> <meta name="title" content="EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy" /> <meta name="googlebot" content="NOODP" /> <meta name="citation_title" content="EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy" /> <meta name="citation_author" content="Sundararajan, R" /> <meta name="citation_author_institution" content="PSNA College of engineering Dindigu, Silvarpatti, Indial" /> <meta name="citation_author" content="Uthayakumar, R" /> <meta name="citation_author_institution" content="Department of Mathematics, Gandhigram Rural Institute, Deemed University, Gandhigram, Tamilnadu, India" /> <meta name="citation_abstract" content="This paper deals with a deterministic inventory model for deteriorating items under the condition of permissible delay in payments with constant demand rate is a function of time which differs from before and after deterioration for a single item. Shortages are allowed and completely backlogged which is a function of time. Under these assumptions, this paper develops a retailer's model for obtaining an optimal cycle length and ordering quantity in deteriorating items of an inventory model. Thus, our objective is retailer's cost minimization problem to find an optimal replenishment policy under various parameters. The convexity of the objective function is derived and the numerical examples are provided to support the proposed model. Sensitivity analysis of the optimal solution with respect to major parameters of the model is included and the implications are discussed." /> <meta name="citation_id" content="2548" /> <meta name="citation_publication_date" content="2015/08/01" /> <meta name="citation_date" content="2015-08-01" /> <meta name="citation_journal_title" content="International Journal of Supply and Operations Management" /> <meta name="citation_issn" content="23831359" /> <meta name="citation_volume" content="2" /> <meta name="citation_issue" content="2" /> <meta name="citation_firstpage" content="759" /> <meta name="citation_lastpage" content="783" /> <meta name="citation_publisher" content="Kharazmi University" /> <meta name="citation_doi" content="10.22034/2015.2.05" /> <meta name="DC.Identifier" content="10.22034/2015.2.05" /> <meta name="citation_abstract_html_url" content="http://www.ijsom.com/article_2548.html" /> <meta name="citation_pdf_url" content="http://www.ijsom.com/article_2548_a4ec23f55502004168972e372dbc41e0.pdf" /> <meta name="DC.Title" content="EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy" /> <meta name="DC.Source" content="International Journal of Supply and Operations Management" /> <meta name="DC.Date" content="01/08/2015" /> <meta name="DC.Date.issued" content="2015-08-01" /> <meta name="DC.Format" content="application/pdf" /> <meta name="DC.Contributor" content="Sundararajan, R" /> <meta name="DC.Contributor" content="Uthayakumar, R" /> <meta name="og:title" content="EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy" /> <meta name="og:description" content="This paper deals with a deterministic inventory model for deteriorating items under the condition of permissible delay in payments with constant demand rate is a function of time which differs from before and after deterioration for a single item. Shortages are allowed and completely backlogged which is a function of time. Under these assumptions, this paper develops a retailer's model for obtaining an optimal cycle length and ordering quantity in deteriorating items of an inventory model. Thus, our objective is retailer's cost minimization problem to find an optimal replenishment policy under various parameters. The convexity of the objective function is derived and the numerical examples are provided to support the proposed model. Sensitivity analysis of the optimal solution with respect to major parameters of the model is included and the implications are discussed." /> <meta name="og:url" content="http://www.ijsom.com/article_2548.html" />  <link href="./themes/base/front/assets/css/social-icon-font.css" rel="stylesheet" type="text/css" />  <link href="./themes/base/front/assets/plugins/bootstrap/css/bootstrap.min.css?v=0.02" rel="stylesheet" type="text/css" /> <link href="./themes/old/front/assets/css/header.css?v=0.05" rel="stylesheet" type="text/css" /> <link href="./themes/old/front/assets/css/footer.css" rel="stylesheet" type="text/css" /> <link href="./inc/css/essentials.css?v=0.2" rel="stylesheet" type="text/css" /> <link href="./inc/css/cookieconsent.min.css" rel="stylesheet" type="text/css" /> <link href="./inc/css/print.css" rel="stylesheet" type="text/css" media="print"/>  <link href="./themes/base/front/assets/plugins/bootstrap/css/bootstrap-ltr.min.css" rel="stylesheet" type="text/css" /> <link 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href="./?_action=article&au=108963&_au=R++Sundararajan">R Sundararajan</a> <sup><a href="mailto:dglsundar21579@gmail.com" data-toggle="tooltip" data-placement="bottom" title="Email to Corresponding Author"><i class="fa fa-envelope-o" ></i></a></sup> <sup><a href="#aff1" >1</a></sup> </li> <li class="padding-3"> <a href="./?_action=article&au=105044&_au=R++Uthayakumar">R Uthayakumar</a> <sup><a href="#aff2" >2</a></sup> </li> </ul> <p class="margin-bottom-3 ltr" id="aff1"> <sup>1</sup> PSNA College of engineering Dindigu, Silvarpatti, Indial </p> <p class="margin-bottom-3 ltr" id="aff2"> <sup>2</sup> Department of Mathematics, Gandhigram Rural Institute, Deemed University, Gandhigram, Tamilnadu, India </p> <div class="margin-bottom-3 ltr" id="ar_doi" title="DOI"><i class="ai ai-doi size-25 text-orange"></i> <span dir="ltr"><a href="https://dx.doi.org/10.22034/2015.2.05">10.22034/2015.2.05</a></span></div> <p style="margin:12px -2px 0 -2px"><strong>Abstract</strong></p> <div class="padding_abstract justify ltr">This paper deals with a deterministic inventory model for deteriorating items under the condition of permissible delay in payments with constant demand rate is a function of time which differs from before and after deterioration for a single item. Shortages are allowed and completely backlogged which is a function of time. Under these assumptions, this paper develops a retailer's model for obtaining an optimal cycle length and ordering quantity in deteriorating items of an inventory model. Thus, our objective is retailer's cost minimization problem to find an optimal replenishment policy under various parameters. The convexity of the objective function is derived and the numerical examples are provided to support the proposed model. Sensitivity analysis of the optimal solution with respect to major parameters of the model is included and the implications are discussed.</div> <p class="padding-0" style="margin:12px -2px 0 -2px"><strong>Keywords</strong></p> <ul class="block list-inline list-inline-seprator margin-bottom-6 ltr"> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=102124&_kw=Inventory" >Inventory</a> </li> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=102662&_kw=Deterioration" >Deterioration</a> </li> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=104923&_kw=Constant+demand+rate" >Constant demand rate</a> </li> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=104924&_kw=Trade+credit" >Trade credit</a> </li> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=104925&_kw=Complete+backlogging" >Complete backlogging</a> </li> </ul> <p class="padding-0" style="margin:12px -2px 0 -2px"><strong>Main Subjects</strong></p> <ul class="block list-inline list-inline-seprator margin-bottom-6"> <li class="padding-3"> <a href="./?_action=article&sb=152&_sb=optimization+in+supply+chain+management" >optimization in supply chain management</a> </li> </ul> </div> <hr> <div class="page_break"></div> <div class="panel"> <div class="panel-heading card-header"> <h4 class="panel-title "> <a data-toggle="collapse" data-parent="#accordions" href="#collapsesRef"><i class="fa fa-plus"></i> References</a> </h4> </div> <div id="collapsesRef" class="panel-collapse collapse"> <div class="panel-body justify"> <div class="padding-3 margin-top-3 ltr justify">Abubakar Musa, Babangida Sani(2012). 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Joint price and lot size determination under conditions of permissible delay in payments and quantity discount for freight cost. European Journal of Operational Research, Vol. 91, pp. 542-582. </div> <div class="padding-3 margin-top-3 ltr justify">Teng J.T., (2002). On the economic order quantity under conditions of permissible delay in payments. Journal of Operational Research Society, Vol. 53, pp. 915-918. </div> <div class="padding-3 margin-top-3 ltr justify">Teunter R., Van der Lann E., (2002). On the non-optimality of the average cost approach for inventory models with manufacturing. International Journal of Production Economics, Vol. 79, pp. 67-73. </div> <div class="padding-3 margin-top-3 ltr justify">Thangam A., Uthayakumar R., (2010). Optimal pricing and lot-sizing policy for a two-warehouse supply chain system with perishable items under partial trade credit financing. Operational Research International Journal, Vol. 10, pp. 133–161. </div> <div class="padding-3 margin-top-3 ltr justify">Van der Lann E., (2003). An NPV and AC analysis of a stochastic inventory system with joint manufacturing and remanufacturing. International Journal of Production Economics, Vol. 81-82, pp. 317-331. </div> <div class="padding-3 margin-top-3 ltr justify">Yanlai Liang and Fangming Zhou, (2011). A two-warehouse inventory model for deteriorating items under conditionally permissible delay in payments. Applied Mathematical Modelling. Vol. 35, pp. 2221-2231. </div> <div class="padding-3 margin-top-3 ltr justify"> </div> </div> </div> </div> </div> </div>   <div class="col-lg-3 col-md-3 col-sm-4"> <div class="panel panel-default my_panel-default margin-bottom-10"> <div class="panel-body ar_info_pnl" id="ar_info_pnl_cover"> <div id="pnl_cover"> <div class="row" > <div class="col-xs-6 col-md-6 nomargin-bottom"> <a href="javascript:loadModal('International Journal of Supply and Operations Management', './data/ijsom/coversheet/cover_en.jpg')"> <img src="data/ijsom/coversheet/cover_en.jpg" alt="International Journal of Supply and Operations Management" style="width: 100%;"> </a> </div> <div class="col-xs-6 col-md-6 nomargin-bottom"> <h6><a href="./issue_460_487.html">Volume 2, Issue 2 - Serial Number 2</a><br/>August 2015<div id="sp_ar_pages">Pages <span dir="ltr">759-783</span></div></h6> </div> </div> </div> </div> </div>  <div class="panel panel-default my_panel-default margin-bottom-10 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<ul class="list-group list-group-bordered list-group-noicon" style="display:block !important;max-height:9999px"> <li class="list-group-item"><a class="tag_a">Article View: <i>3,908</i></a></li> <li class="list-group-item"><a class="tag_a">PDF Download: <i>2,384</i></a></li> </ul> </div> </div> </div> </div>  </div> </section> <div id="cite-apa" class="modal fade" tabindex="-1" role="dialog" aria-labelledby="myModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content">  <div class="modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> <h4 class="modal-title" id="myModalLabel">APA</h4> </div>  <div class="modal-body"> <p>Sundararajan, R., & Uthayakumar, R. (2015). EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy. <em>International Journal of Supply and Operations Management</em>, 2(2), 759-783. doi: 10.22034/2015.2.05</p> </div> </div> </div> </div> <div id="cite-mla" class="modal fade" tabindex="-1" role="dialog" aria-labelledby="myModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content">  <div class="modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> <h4 class="modal-title" id="myModalLabel">MLA</h4> </div>  <div class="modal-body"> <p>R Sundararajan; R Uthayakumar. "EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy". <em>International Journal of Supply and Operations Management</em>, 2, 2, 2015, 759-783. doi: 10.22034/2015.2.05</p> </div> </div> </div> </div> <div id="cite-harvard" class="modal fade" tabindex="-1" role="dialog" aria-labelledby="myModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content">  <div class="modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> <h4 class="modal-title" id="myModalLabel">HARVARD</h4> </div>  <div class="modal-body"> <p>Sundararajan, R., Uthayakumar, R. (2015). 'EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy', <em>International Journal of Supply and Operations Management</em>, 2(2), pp. 759-783. doi: 10.22034/2015.2.05</p> </div> </div> </div> </div> <div id="cite-vancouver" class="modal fade" tabindex="-1" role="dialog" aria-labelledby="myModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content">  <div class="modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> <h4 class="modal-title" id="myModalLabel">VANCOUVER</h4> </div>  <div class="modal-body"> <p>Sundararajan, R., Uthayakumar, R. EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy. <em>International Journal of Supply and Operations Management</em>, 2015; 2(2): 759-783. doi: 10.22034/2015.2.05</p> </div> </div> </div> </div> </div> </div>   <section class="alternate padding-xxs"> </section>   <div class="container"> <footer id="footer"> <div class="scrollup" id="scroll" href="#"><span></span></div> <div class="row"> <div class="col-md-2">  <h4 class="">Explore Journal</h4> <ul class="footer-links list-unstyled"> <li id="fli_home"><a href="./">Home</a></li> <li id="fli_about"><a href="./journal/about">About Journal</a></li> <li id="fli_Edb"><a href="./journal/editorial.board">Editorial Board</a></li> <li id="fli_submit"><a href="./author">Submit Manuscript</a></li> <li id="fli_contactus"><a href="./journal/contact.us">Contact Us</a></li> <li id="fli_glossary"><a href="./journal/glossary">Glossary</a></li> <li id="fli_order_hrdj"><a href="./journal/subscription.form">Hard Copy Subscription</a></li> <li id="fli_sitemap"><a href="./sitemap.xml?usr">Sitemap</a></li> </ul>  </div> <div class="col-md-3">  <h4 class="">Latest News</h4> <ul class="footer-posts list-unstyled"> <li> <a href="./news?newsCode=173">SD of ISC: Sustainable Development of Intelligent Supply Chains based on Trends and Future Directions: Application of Novel Solution Techniques</a> <small class="ltr">2023-03-05</small> </li> </ul>  </div> <div class="col-md-3">  <div><p><a title="Linkedin" href="http://www.linkedin.com/company/ijsom?trk=eml-cp_mktg-btn-welcome-20120607%2F"><img src="images/linkedin.jpg" alt="linkedin" /></a></p></div>  </div> <div class="col-md-4">  <h4 class="">Newsletter Subscription</h4> <p>Subscribe to the journal newsletter and receive the latest news and updates</p> <form class="validate" action="" method="post" data-success="Subscription saved successfully." data-toastr-position="bottom-right"> <input type="hidden" name="_token" value="d17710b61f5bf4debe835d2a7abefec49037a5d9d1088e5b"/> <div class="input-group"> <span class="input-group-addon"><i class="fa fa-envelope"></i></span> <input type="email" id="email" name="email" required="required" class="form-control required sbs_email" placeholder="Enter your Email" oninvalid="this.setCustomValidity('Enter a valid email address.')" oninput="this.setCustomValidity('')"> <span class="input-group-btn"> <button class="btn btn-primary mybtn" type="submit">Subscribe</button> </span> </div> </form>   <div class="margin-top-20"> <a class="noborder" href="" target="_blank" class="social-icon social-icon-border social-facebook pull-left block" data-toggle="tooltip" data-placement="top" title="Facebook"> <i class="fa fa-facebook-square" aria-hidden="true"></i> </a> <a class="noborder" href="" target="_blank" class="social-icon social-icon-border social-facebook pull-left block" data-toggle="tooltip" data-placement="top" title="Twitter"> <i class="fa fa-twitter-square" aria-hidden="true"></i> </a> <a class="noborder" href="" target="_blank" class="social-icon social-icon-border social-facebook pull-left block" data-toggle="tooltip" data-placement="top" title="Linkedin"> <i class="fa fa-linkedin-square" aria-hidden="true"></i> </a> <a class="noborder" href="./ju.rss" class="social-icon social-icon-border social-rss pull-left block" data-toggle="tooltip" data-placement="top" title="Rss"><i class="fa fa-rss-square" aria-hidden="true"></i></a> </div> </div> </div> <div class="copyright" style="position: relative"> <ul class="nomargin list-inline mobile-block"> <li>© Journal Management System. <span id='sp_crt'>Powered by <a target='_blank' href='https://www.sinaweb.net/'>Sinaweb</a></span></li> </ul> </div> </footer> </div>  </div>   <a href="#" id="toTop_old"></a>  <div id="preloader"> <div class="inner"> <span class="loader"></span> </div> </div>  <script type="text/javascript">var plugin_path = './themes/base/front/assets/plugins/';</script> <script type="text/javascript" src="./themes/base/front/assets/js/scripts.js?v=0.02"></script>   <script type="text/javascript"> $('ul.nav li.dropdown').hover(function() { if (window.matchMedia('(max-width: 767px)').matches) return; 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EOQ Model for Delayed Deteriorating Items with Shortages and Trade Credit Policy