Partial backlogging EOQ model with trade-credit facility and inflationary environment

Abstract

In this article, an economic order quantity (EOQ) model for deteriorating items with trade-credit facility is presented. It is assumed that decay rate is two parameter Weibull distributed function of time. Demand rate of the products increases with time. Shortages are allowed and partially backlogged. The whole study is done in inflationary environment. A numerical assessment is done to exemplify the proposed model and sensitivity analysis with respect to the change in system parameters is also carried out.