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Economic Order Quantity Under Conditions Of A One-Time-Only Extended Permissible Delay Period In Payments

Author

Listed:
  • SURESH KUMAR GOYAL

    (Department of DS & MIS, John Molson School of Business, Concordia University, Montreal, Quebec, Canada H3G1M8, Canada)

  • CHUN-TAO CHANG

    (Department of Statistics, Tamkang University, Tamsui, Taipei, Taiwan 25137, ROC)

Abstract

In today's business environment, a supplier usually offers customers a permissible delay for settling outstanding account balance for the goods supplied. However, a supplier on occasion may allow this permissible delay in payments to be more than the usual during a given specified period. In this paper, we establish an appropriate model for a customer to determine its optimal special order quantity when the supplier offers a special extended permissible delay for one time only during a specified period. We then establish two theorems for a customer to find the optimal special order quantity. Finally, several numerical examples are given to illustrate the theoretical results.

Suggested Citation

  • Suresh Kumar Goyal & Chun-Tao Chang, 2008. "Economic Order Quantity Under Conditions Of A One-Time-Only Extended Permissible Delay Period In Payments," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 25(02), pages 267-277.
    • Handle: RePEc:wsi:apjorx:v:25:y:2008:i:02:n:s0217595908001675
    DOI: 10.1142/S0217595908001675
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    Cited by:

    1. Kin Chan, Chi & Lee, Y.C.E. & Goyal, S.K., 2010. "A delayed payment method in co-ordinating a single-vendor multi-buyer supply chain," International Journal of Production Economics, Elsevier, vol. 127(1), pages 95-102, September.

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