Abstract
This paper presents a pharmaceutical inventory model for deteriorating items with quadratic demand and linear holding cost under permissible delay in payments. The pharmaceutical Inventory is discussed under two cases: (i) the permissible period is less than or equal to replenishment cycle (ii) the permissible period is greater than replenishment cycle. During the permissible period, both pharmaceutical company and the hospital got some benefits. Shortages are allowed and are partially backlogged. This model solved analytically by reducing the total inventory cost. The results are explained with numerical examples and sensitivity analysis.
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