An Inventory Model for Deteriorating Items with Permissible Delay in Payment and Inflation Under Price Dependent Demand

Manisha Pal, Hare Krishna Maity

Abstract


The paper studies an inventory model for deteriorating items when demand for the item is dependent on the selling price. Shortages are allowed and backlogged, and price inflation is taken into consideration. Further, it is assumed that the supplier permits the inventory manager to settle his accounts within a given specified time period. Numerical examples are cited to illustrate the model and to study the sensitivity of the model to change in model parameters.


Keywords


Inventory; Delay in payment; Deteriorating items; Backlogging of shortage; Selling price dependent demand; Inflation.

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DOI: http://dx.doi.org/10.18187/pjsor.v8i3.529

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Title

An Inventory Model for Deteriorating Items with Permissible Delay in Payment and Inflation Under Price Dependent Demand

Keywords

Inventory; Delay in payment; Deteriorating items; Backlogging of shortage; Selling price dependent demand; Inflation.

Description

The paper studies an inventory model for deteriorating items when demand for the item is dependent on the selling price. Shortages are allowed and backlogged, and price inflation is taken into consideration. Further, it is assumed that the supplier permits the inventory manager to settle his accounts within a given specified time period. Numerical examples are cited to illustrate the model and to study the sensitivity of the model to change in model parameters.


Date

2012-07-01

Identifier


Source

Pakistan Journal of Statistics and Operation Research; Vol 8. No. 3, 2012



Print ISSN: 1816-2711 | Electronic ISSN: 2220-5810