Abstract
This article deals with an EOQ ( Economic Order Quantity) model for finite replenishment rate where demand and deterioration rate are both time-dependent. In this model, the retailers are allowed a trade-credit offer by the suppliers to buy more items with different discount rates on the purchasing costs. During the credit period, the retailers can earn more by selling their products. The interest on purchasing cost is charged for the delay of payment by the retailers. Some of the items may deteriorate in the course of time. In this regard, the author develops an EOQ model for time varying deterioration rate. The profit function of the model is maximized. Finally, a numerical example and graphical illustrations are used to illustrate the model.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
