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Inventory Model for Decaying Items with Multivariate Demand and Variable Holding Cost under the Facility of Trade-Credit

by Anupam Swami, Sarla Pareek, S.r. Singh, Ajay Singh Yadav
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International Journal of Computer Applications
Foundation of Computer Science (FCS), NY, USA
Volume 113 - Number 11
Year of Publication: 2015
Authors: Anupam Swami, Sarla Pareek, S.r. Singh, Ajay Singh Yadav
10.5120/19871-1858

Anupam Swami, Sarla Pareek, S.r. Singh, Ajay Singh Yadav . Inventory Model for Decaying Items with Multivariate Demand and Variable Holding Cost under the Facility of Trade-Credit. International Journal of Computer Applications. 113, 11 ( March 2015), 18-28. DOI=10.5120/19871-1858

@article{ 10.5120/19871-1858,
author = { Anupam Swami, Sarla Pareek, S.r. Singh, Ajay Singh Yadav },
title = { Inventory Model for Decaying Items with Multivariate Demand and Variable Holding Cost under the Facility of Trade-Credit },
journal = { International Journal of Computer Applications },
issue_date = { March 2015 },
volume = { 113 },
number = { 11 },
month = { March },
year = { 2015 },
issn = { 0975-8887 },
pages = { 18-28 },
numpages = {9},
url = { https://ijcaonline.org/archives/volume113/number11/19871-1858/ },
doi = { 10.5120/19871-1858 },
publisher = {Foundation of Computer Science (FCS), NY, USA},
address = {New York, USA}
}
%0 Journal Article
%1 2024-02-06T22:50:40.852629+05:30
%A Anupam Swami
%A Sarla Pareek
%A S.r. Singh
%A Ajay Singh Yadav
%T Inventory Model for Decaying Items with Multivariate Demand and Variable Holding Cost under the Facility of Trade-Credit
%J International Journal of Computer Applications
%@ 0975-8887
%V 113
%N 11
%P 18-28
%D 2015
%I Foundation of Computer Science (FCS), NY, USA
Abstract

In this study, an inventory model for deteriorating items with multivariate demand and variable holding cost is developed. The facility of allowable delay in payment is also taken into consideration. During this period retailer can use the ensued money from sales of the supplied goods to earn interest. Demand rate is a function of on hand inventory and selling price of the item and it is considered that the stock affects the demand rate up to an assured time. Therefore, retailer will order more quantity to stimulate demand rate and to earn more money. Different cases of allowable delay in payment are discussed. The objective of this study is to maximize the retailer's total profit per unit time. The results are illustrated with some numerical examples and sensitivity analysis for each case is also carried out.

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Index Terms

Computer Science
Information Sciences

Keywords

Inventory Model Sensitivity Analysis and consumption rate

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