Abstract
In today’s competitive business deal the demand for any product is positively affected by its displayed stock level due to which the suppliers normally gave permission to his/her retailers for the delay in payment. We developed an inventory model to stem the auspicious conditions under which permissible delay in payment and displayed stock levels are beneficial for the manufacturing industry and business markets. In this decision model, for the permissible delay period; the retailer is permitted to postpone his/her payment for the products, which was bought without paying any interest. In particular, we analyze in this study the optimal renewal policy for non-instantaneous decaying products through variable demand. Furthermore, the results reveal that the optimum cost and time using the assistance of a numerical example which demonstrates the model with sensitivity analysis is carried out.
Published Version
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 callMore From: IOP Conference Series: Materials Science and Engineering
Disclaimer: 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.
