Abstract
In this article, an inventory model is derived by assuming constant rate of deterioration of units in an inventory, time value of money under the conditions of permissible delay in payments. The optimal replenishments and fraction of cycle time are decision variables to minimize the present value of inventory cost over a finite planning horizon. The sensitivity analysis is carried out by a numerical example.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
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.