Volume 52, Number 2, April–June 2018
|Page(s)||499 - 512|
|Published online||22 June 2018|
Optimal production model with quality sensitive market demand, partial backlogging and permissible delay in payment
Department of Mathematics, The University of Burdwan,
* Corresponding author: e-mail: firstname.lastname@example.org
Accepted: 5 October 2017
In this study, we consider an imperfect production inventory system with quality of the products dependent market’s demand structures and allowable delay in payments. Two alternative approaches of trade credit policies have been discussed when the manufacturer could not pay the due amount to the supplier within the credit period offered. Here, a new cycle is begun with new production when the manufacturer’s inventory touches to a certain level of shortages. The cycle also ends when backlogged inventory level is reached a certain level. The backlogging rate for the player is dependent on waiting time. The production cost of the manufacturer varies with ordering lot size and quality of product. The behavior of the model under integrated system is analyzed. The sensitivity of the key parameters is examined to test feasibility of the model. Finally, a numerical example is provided to investigate the proposed model.
Mathematics Subject Classification: 90B05
Key words: Imperfect production inventory model / quality / partially backlogging / permissible delay in payment
© EDP Sciences, ROADEF, SMAI 2018
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