Integrated inventory models with two–level credit policy and a price negotiation scenario for price–sensitive Stock–dependent demand
In this research, the integrated inventory models are developed for price–sensitive stock– dependent demand and delay in payments are permissible. Two level trade credit police in the vendor–buyer and buyer–customer is considered. An easy–to–use solution algorithm is derived for the integrated model...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Growing Science
2011-01-01
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| Series: | International Journal of Industrial Engineering Computations |
| Subjects: | |
| Online Access: | http://www.growingscience.com/ijiec/Vol2/IJIEC_2011_4.pdf |
| _version_ | 1818382004886962176 |
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| author | Nita H. Shah Amisha R. Patel |
| author_facet | Nita H. Shah Amisha R. Patel |
| author_sort | Nita H. Shah |
| collection | DOAJ |
| description | In this research, the integrated inventory models are developed for price–sensitive stock– dependent demand and delay in payments are permissible. Two level trade credit police in the vendor–buyer and buyer–customer is considered. An easy–to–use solution algorithm is derived for the integrated models to determine the buyer’s optimal pricing and ordering strategy. A negotiation scenario is incorporated to distribute the extra profit between the vendor and buyer. A numerical example and sensitivity analysis are given to validate the proposed models. It is observed that the total joint profit of the integrated system can increase even if the price discount is offered to the buyer in proposed models. |
| first_indexed | 2024-12-14T02:43:35Z |
| format | Article |
| id | doaj.art-93b784cf923e4424877c5f955ecf41a8 |
| institution | Directory Open Access Journal |
| issn | 1923-2926 1923-2934 |
| language | English |
| last_indexed | 2024-12-14T02:43:35Z |
| publishDate | 2011-01-01 |
| publisher | Growing Science |
| record_format | Article |
| series | International Journal of Industrial Engineering Computations |
| spelling | doaj.art-93b784cf923e4424877c5f955ecf41a82022-12-21T23:19:57ZengGrowing ScienceInternational Journal of Industrial Engineering Computations1923-29261923-29342011-01-0123657670Integrated inventory models with two–level credit policy and a price negotiation scenario for price–sensitive Stock–dependent demandNita H. ShahAmisha R. PatelIn this research, the integrated inventory models are developed for price–sensitive stock– dependent demand and delay in payments are permissible. Two level trade credit police in the vendor–buyer and buyer–customer is considered. An easy–to–use solution algorithm is derived for the integrated models to determine the buyer’s optimal pricing and ordering strategy. A negotiation scenario is incorporated to distribute the extra profit between the vendor and buyer. A numerical example and sensitivity analysis are given to validate the proposed models. It is observed that the total joint profit of the integrated system can increase even if the price discount is offered to the buyer in proposed models.http://www.growingscience.com/ijiec/Vol2/IJIEC_2011_4.pdfIntegrated inventory systemPrice–negotiation factorPrice–sensitiveStock–dependent demand |
| spellingShingle | Nita H. Shah Amisha R. Patel Integrated inventory models with two–level credit policy and a price negotiation scenario for price–sensitive Stock–dependent demand International Journal of Industrial Engineering Computations Integrated inventory system Price–negotiation factor Price–sensitive Stock–dependent demand |
| title | Integrated inventory models with two–level credit policy and a price negotiation scenario for price–sensitive Stock–dependent demand |
| title_full | Integrated inventory models with two–level credit policy and a price negotiation scenario for price–sensitive Stock–dependent demand |
| title_fullStr | Integrated inventory models with two–level credit policy and a price negotiation scenario for price–sensitive Stock–dependent demand |
| title_full_unstemmed | Integrated inventory models with two–level credit policy and a price negotiation scenario for price–sensitive Stock–dependent demand |
| title_short | Integrated inventory models with two–level credit policy and a price negotiation scenario for price–sensitive Stock–dependent demand |
| title_sort | integrated inventory models with two level credit policy and a price negotiation scenario for price sensitive stock dependent demand |
| topic | Integrated inventory system Price–negotiation factor Price–sensitive Stock–dependent demand |
| url | http://www.growingscience.com/ijiec/Vol2/IJIEC_2011_4.pdf |
| work_keys_str_mv | AT nitahshah integratedinventorymodelswithtwolevelcreditpolicyandapricenegotiationscenarioforpricesensitivestockdependentdemand AT amisharpatel integratedinventorymodelswithtwolevelcreditpolicyandapricenegotiationscenarioforpricesensitivestockdependentdemand |