An inventory model for deteriorating items under the condition of permissible delay in payments
In economic order quantity (EOQ) models, it is often assumed that the payment of an order is made on the receipt of items by the inventory system. However, such an assumption is not quite practical in the real world. Under most market behaviors, it can be easily found that a vendor provides a credit...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Belgrade
2002-01-01
|
| Series: | Yugoslav Journal of Operations Research |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0354-0243/2002/0354-02430201073C.pdf |
| _version_ | 1818212224941948928 |
|---|---|
| author | Chang Horng-Jinh Dye Chung-Yuan Chuang Bor-Ren |
| author_facet | Chang Horng-Jinh Dye Chung-Yuan Chuang Bor-Ren |
| author_sort | Chang Horng-Jinh |
| collection | DOAJ |
| description | In economic order quantity (EOQ) models, it is often assumed that the payment of an order is made on the receipt of items by the inventory system. However, such an assumption is not quite practical in the real world. Under most market behaviors, it can be easily found that a vendor provides a credit period for buyers to stimulate demand. In this paper, a varying rate of determination and the condition of permissible delay in payments used in conjunction with the economic order quantity model are the focus of discussion. Numerical examples are presented to illustrate the proposed models. |
| first_indexed | 2024-12-12T05:45:00Z |
| format | Article |
| id | doaj.art-7e1b0957acd642a69324fb4e99c3bc2c |
| institution | Directory Open Access Journal |
| issn | 0354-0243 1820-743X |
| language | English |
| last_indexed | 2024-12-12T05:45:00Z |
| publishDate | 2002-01-01 |
| publisher | University of Belgrade |
| record_format | Article |
| series | Yugoslav Journal of Operations Research |
| spelling | doaj.art-7e1b0957acd642a69324fb4e99c3bc2c2022-12-22T00:35:49ZengUniversity of BelgradeYugoslav Journal of Operations Research0354-02431820-743X2002-01-01121738410.2298/YJOR0201073CAn inventory model for deteriorating items under the condition of permissible delay in paymentsChang Horng-JinhDye Chung-YuanChuang Bor-RenIn economic order quantity (EOQ) models, it is often assumed that the payment of an order is made on the receipt of items by the inventory system. However, such an assumption is not quite practical in the real world. Under most market behaviors, it can be easily found that a vendor provides a credit period for buyers to stimulate demand. In this paper, a varying rate of determination and the condition of permissible delay in payments used in conjunction with the economic order quantity model are the focus of discussion. Numerical examples are presented to illustrate the proposed models.http://www.doiserbia.nb.rs/img/doi/0354-0243/2002/0354-02430201073C.pdfInventoryEOQdeterioration. |
| spellingShingle | Chang Horng-Jinh Dye Chung-Yuan Chuang Bor-Ren An inventory model for deteriorating items under the condition of permissible delay in payments Yugoslav Journal of Operations Research Inventory EOQ deterioration. |
| title | An inventory model for deteriorating items under the condition of permissible delay in payments |
| title_full | An inventory model for deteriorating items under the condition of permissible delay in payments |
| title_fullStr | An inventory model for deteriorating items under the condition of permissible delay in payments |
| title_full_unstemmed | An inventory model for deteriorating items under the condition of permissible delay in payments |
| title_short | An inventory model for deteriorating items under the condition of permissible delay in payments |
| title_sort | inventory model for deteriorating items under the condition of permissible delay in payments |
| topic | Inventory EOQ deterioration. |
| url | http://www.doiserbia.nb.rs/img/doi/0354-0243/2002/0354-02430201073C.pdf |
| work_keys_str_mv | AT changhorngjinh aninventorymodelfordeterioratingitemsundertheconditionofpermissibledelayinpayments AT dyechungyuan aninventorymodelfordeterioratingitemsundertheconditionofpermissibledelayinpayments AT chuangborren aninventorymodelfordeterioratingitemsundertheconditionofpermissibledelayinpayments AT changhorngjinh inventorymodelfordeterioratingitemsundertheconditionofpermissibledelayinpayments AT dyechungyuan inventorymodelfordeterioratingitemsundertheconditionofpermissibledelayinpayments AT chuangborren inventorymodelfordeterioratingitemsundertheconditionofpermissibledelayinpayments |