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Lot-sizing policies for defective and deteriorating items with time-dependent demand and trade credit

Author

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  • Sunil Tiwari
  • Hui-Ming Wee
  • Sumon Sarkar

Abstract

This study investigates an inventory model with unreliable supply where each received lot may have random fraction of defective items with known distribution. Thus, item inspection becomes essential in all the situations, especially when the items are of deteriorating nature. Moreover, in today's competitive business world, organisations may use promotional tools in order to increase their sales. One such tool is permissible delay in payments where the buyer does not have to pay for the goods purchased until a prescribed period given by the supplier. For the case when both the demand and the price vary with time, we investigate the impact on the retailer's ordering policy for deteriorating items under permissible delay in payments. Numerical examples and sensitivity analysis are illustrated to provide some important managerial implications. [Received 26 December 2016; Revised 20 April 2017; Revised 5 June 2017; Revised 3 July 2017; Accepted 11 July 2017]

Suggested Citation

  • Sunil Tiwari & Hui-Ming Wee & Sumon Sarkar, 2017. "Lot-sizing policies for defective and deteriorating items with time-dependent demand and trade credit," European Journal of Industrial Engineering, Inderscience Enterprises Ltd, vol. 11(5), pages 683-703.
    • Handle: RePEc:ids:eujine:v:11:y:2017:i:5:p:683-703
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    Citations

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    Cited by:

    1. Abu Hashan Md Mashud & Dipa Roy & Yosef Daryanto & Mohd Helmi Ali, 2020. "A Sustainable Inventory Model with Imperfect Products, Deterioration, and Controllable Emissions," Mathematics, MDPI, vol. 8(11), pages 1-21, November.
    2. Mahesh Kumar Jayaswal & Isha Sangal & Mandeep Mittal, 2022. "Impact of Credit Financing on the Ordering Policy for Imperfect Quality Items With Learning and Shortages," International Journal of Business Analytics (IJBAN), IGI Global, vol. 9(1), pages 1-18, January.
    3. Mu, Xiuqing & Kang, Kai & Zhang, Jing, 2022. "Dual-channel supply chain coordination considering credit sales competition," Applied Mathematics and Computation, Elsevier, vol. 434(C).
    4. Li, Ruihai & Skouri, Konstantina & Teng, Jinn-Tsair & Yang, Wen-Goang, 2018. "Seller's optimal replenishment policy and payment term among advance, cash, and credit payments," International Journal of Production Economics, Elsevier, vol. 197(C), pages 35-42.
    5. Kun-Jen Chung & Jui-Jung Liao & Hari Mohan Srivastava & Shih-Fang Lee & Shy-Der Lin, 2021. "The EOQ Model for Deteriorating Items with a Conditional Trade Credit Linked to Order Quantity in a Supply Chain System," Mathematics, MDPI, vol. 9(18), pages 1-28, September.

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