An EOQ model for non-instantaneous deteriorating items with two storage facilities under progressive trade credit policy in financial environment. (26th August 2021)

• Record Type: Journal Article
• Authors: Tripathy, Monalisha; Sharma, Anuj Kumar; Sharma, Geetanjali
• Is Part Of: International journal of services operations and informatics. Volume 11:Number 2/3(2021)
• Page Start: 210
• Page End: 239
• Publication Date: 2021-08-26
• Subjects: inventory theory -- non-instantaneous deterioration -- progressive trade credit -- EOQ model -- constant demand -- financial environment -- cost function -- two-warehouse; Service industries -- Management -- Periodicals; Service industries -- Management -- Information technology -- Periodicals; 658.5
• Languages: English
• ISSNs: 1741-539X

Abstract

In this paper, authors consider the two warehouses inventory models for non-instantaneous deteriorating items by considering progressive trade credit policy. This model is developed in financial environment taking various financial scenarios. The aim of this work is to develop a cost function for various situations depending on the trade credit period in economic environment. Further, to illustrate the robustness of the model, several realistic cases, sub cases and scenarios are studied. An algorithm is established to obtain the average cost, the replenishment time and the optimal order quantity. A comprehensive sensitivity analysis has been performed on the optimal case, which is obtained by solving the hypothetical numerical examples.