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An Eoq Model For Progressive Payment Scheme Under Dcf Approach

Author

Listed:
  • HARDIK SONI

    (Chimanbhai Patel Post Graduate Institute of Computer Applications, Gujarat University, Ahmedabad-51, Gujarat, India)

  • AJAY S. GOR

    (Pramukh Swami Science and H. D. Patel Arts College, Kadi, India)

  • NITA H. SHAH

    (Department of Mathematics, Gujarat University, Ahmedabad-380009, Gujarat, India)

Abstract

An attempt is made to formulate optimal ordering policies for the retailer when the supplier offers progressive credit periods to settle the account. We define progressive credit periods as follows: If the retailer settles the outstanding amount byM, the supplier does not charge any interest. If the retailer pays afterMbut beforeN(M Ic1). The objective function to be optimized is considered as present value of all future cash-out-flows. An algorithm is given to find the flow of optimal ordering policy. Analytic proofs are discussed to study the effect of various parameters on an objective function.

Suggested Citation

  • Hardik Soni & Ajay S. Gor & Nita H. Shah, 2006. "An Eoq Model For Progressive Payment Scheme Under Dcf Approach," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 23(04), pages 509-524.
    • Handle: RePEc:wsi:apjorx:v:23:y:2006:i:04:n:s0217595906001017
    DOI: 10.1142/S0217595906001017
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    Cited by:

    1. Chung, Kun-Jen, 2009. "A note on optimal ordering policies when the supplier provides a progressive interest scheme," European Journal of Operational Research, Elsevier, vol. 199(2), pages 611-617, December.
    2. Serrano, Alejandro & Oliva, Rogelio & Kraiselburd, Santiago, 2017. "On the cost of capital in inventory models with deterministic demand," International Journal of Production Economics, Elsevier, vol. 183(PA), pages 14-20.

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