Volume 55, Number 2, March-April 2021
|Page(s)||1043 - 1061|
|Published online||07 May 2021|
Decision support system for customers during availability of trade credit financing with different pricing situations
Department of Mathematics, The University of Burdwan, Burdwan 713104, India
2 Department of Mathematics, Chandrapur College, Chandapur, Burdwan 713145, India
3 Department of Industrial Engineering, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul 03722, South Korea
* Corresponding author: firstname.lastname@example.org
Accepted: 25 January 2021
This study introduces an inventory system with a non-instantaneous deteriorating product with credit facility and variable demand depending on the selling price. Two different selling prices are considered in the deterioration and non-deterioration periods. Shortages are partially backlogged and dependent on the length of the customers’ waiting time upto the arrival of fresh lot. Alternative trade-credit policy is applied herein, and several cases, sub-cases and situations are investigated. The corresponding optimization problems of different cases, sub-cases and situations are solved using an interval-oriented multi-section technique with the help of interval mathematics and interval order relations. A numerical example with three different credit periods is studied and solved to validate the said problem. Also, two different case studies are investigated. Then to investigate the effect of changes of several system parameters on the optimal policy, post optimality analyses are performed.
Mathematics Subject Classification: 90B05
Key words: Inventory / non-instantaneous deterioration / credit policy / partial backlogging
© EDP Sciences, ROADEF, SMAI 2021
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.