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An EOQ model with backordering for perishable items under multiple advanced and delayed payments policies

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  • Prasanta Kumar Ghosh
  • Amalesh Kumar Manna
  • Jayanta Kumar Dey
  • Samarjit Kar

Abstract

This study investigated an economic order quantity (EOQ) model with complete backorder for fixed lifetime perishable items under multiple advance and delayed payments policies. Here, a new type of business policy is considered where supplier offers the retailer to pay a fraction of the purchasing cost before the order delivery by multiple equal installments starting from the ordering time and the rest amount after the delivery by multiple equal installments. Here, some theoretical results are illustrated to determine the conditions of existence and uniqueness of the optimal solutions. A closed form solution is determined to solve the proposed model under approximation. Some numerical examples are provided to examine the validity of the proposed model. Finally, sensitivity analyses are presented to obtain the effect of optimal policy and provide some managerial insights of the model.

Suggested Citation

  • Prasanta Kumar Ghosh & Amalesh Kumar Manna & Jayanta Kumar Dey & Samarjit Kar, 2022. "An EOQ model with backordering for perishable items under multiple advanced and delayed payments policies," Journal of Management Analytics, Taylor & Francis Journals, vol. 9(3), pages 403-434, July.
    • Handle: RePEc:taf:tjmaxx:v:9:y:2022:i:3:p:403-434
    DOI: 10.1080/23270012.2021.1882348
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    Cited by:

    1. Kuan Zeng & Xianhao Xu & Pin Zhou & Qingguo Bai, 2024. "Financing the newsvendor with vendor credit line," Operations Management Research, Springer, vol. 17(3), pages 833-849, September.

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