A note on an EOQ model for deteriorating items under supplier credit linked to ordering quantity |
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Authors: | Jui-Jung Liao |
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Affiliation: | Graduate School of Business and Management, Lunghwa University of Science and Technology, Taoyuan, Taiwan, ROC |
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Abstract: | This paper explores the inventory replenishment policy for deteriorating items in which the supplier provides a permissible delay to the purchaser if the order quantity is greater than or equal to a predetermined quantity. As a matter of fact, the inventory system discussed by this paper is the same as that of Chang et al. [C.T. Chang, L.Y. Ouyang, J.T. Teng, An EOQ model for deteriorating items under supplier credit credits linked to ordering quantity, Appl. Math. Model. 27 (2003) 983–996]. However, their approach in solving the problems needs further analysis. This article deals with an alternative approach to present a simple procedure in order to determine the optimal ordering policy when the supplier provides a permissible delay in payments linked to order quantity. Numerical examples reveal that the solution algorithm described in this paper is accurate and rapid. |
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Keywords: | Inventory Lot-size Delay payment Deteriorating items |
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