Abstract
AbstractThe present study investigated the inventory model for a retailer under two levels of trade credit to reflect the supply chain management. Supplier offers trade credit period of M to the retailer while in turn retailer provides a trade credit period of N to his/her customers. The supplier is willing to provide the retailer a full trade credit period for payments and the retailer offers the partial trade credit period to his/her customers. Here, selling items are considered as perishable items such as fruits, fresh fishes, gasoline, photographic films, etc. so that its potential worth decreases. It is assumed that decay in potential worth of items can be increased by using preservation technology. The demand is considered as the function of selling price and trade credit. Ordering cost can be reducing due to learning by doing phenomenon. By applying convex fractional programming results, we obtain necessary and sufficient conditions of an optimal solution. Some theorems are developed to determine r...
Highlights
The managing of inventories is one of the most significant tasks that every manager must do efficiently and effectively in any organization so that their organization can grow
He received his PhD in Inventory Control from the CCS University. His interests are in operations and supply chain management and optimization. He has had his articles published in journals, such as Opsearch, Asia-Pacific Journal of Operational Research, International Journal of Systems Science, International Journal of Operational Research, and others
It is assumed that decay in potential worth of items can be increased by using preservation technology; (2) supplier offers trade credit period of M to the retailer while in turn retailer provides a trade credit period of N to his/her customers; (3) the replenishment rate is finite; (4) the supplier is willing to provide the retailer a full trade credit period for payments and the retailer offers the partial trade credit period to his/her customers; (5) the demand is the function of selling price and trade credit; (6) ordering cost reduces due to learning by doing phenomenon
Summary
The managing of inventories is one of the most significant tasks that every manager must do efficiently and effectively in any organization so that their organization can grow. All the organizations are involved in a global competitive market and these organizations are taking seriously the activities Dharmendra Yadav ABOUT THE AUTHOR. Dharmendra Yadav is an assistant professor in Vardhaman (P.G.) College, MJP Rohilkhand University, Bijnor, U.P. He received his PhD in Inventory Control from the CCS University. His interests are in operations and supply chain management and optimization. He has had his articles published in journals, such as Opsearch, Asia-Pacific Journal of Operational Research, International Journal of Systems Science, International Journal of Operational Research, and others
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