TAILIEUCHUNG - A periodic review inventory model with stock dependent demand, permissible delay in payment and price discount on backorders

In this paper we study a periodic review inventory model with stock dependent demand. When stock on hand is zero, the inventory manager offers a price discount to customers who are willing to backorder their demand. Permissible delay in payments allowed to the inventory manager is also taken into account. Numerical examples are cited to illustrate the model. | Yugoslav Journal of Operations Research 24 (2014) Number 1, 99-110 DOI: A PERIODIC REVIEW INVENTORY MODEL WITH STOCK DEPENDENT DEMAND, PERMISSIBLE DELAY IN PAYMENT AND PRICE DISCOUNT ON BACKORDERS Manisha PAL Department of Statistics, University of Calcutta, India manishapal2@ Sujan CHANDRA Department of Statistics, Haldia Govt. College, India Received: Маy 2012 / Accepted: May 2013 Abstract: In this paper we study a periodic review inventory model with stock dependent demand. When stock on hand is zero, the inventory manager offers a price discount to customers who are willing to backorder their demand. Permissible delay in payments allowed to the inventory manager is also taken into account. Numerical examples are cited to illustrate the model. Keywords: Periodic review model; stock dependent demand; shortage; price discount on backorder; delay in payment. MSC: 90B05. 1. INTRODUCTION In traditional inventory models, it is generally assumed that the demand rate is independent of factors like stock availability, price of items, etc. However, in actual practice, it is observed that demand for certain items is greatly influenced by the stock level. For example, an increase in shelf space for an item is seen to induce more consumers to buy it owing to its visibility, popularity or variety. Conversely, low stocks of certain goods might raise the perception that they are not fresh. Levin et al. (1972) pointed out that large piles of consumer goods displayed in a supermarket attract the customer to buy more. Silver and Peterson (1985) noted that sales at the retail level tend to be proportional to the stock displayed. Baker and Urban (1988) established an EOQ model for a power-form inventory-level-dependent demand pattern. Padmanabhan and 100 M. Pal, S. Chandra / A Periodic Review Inventory Model Vrat (1990) developed a multi-item inventory model for deteriorating items with stockdependent demand under resource constraints. Datta .

• Kinh tế học
• Periodic review model
• Stock dependent demand
• Price discount on backorder
• Delay in payment
• EOQ model
• Compound Poisson process
• Periodic review policy
• Compound Poisson demand
• Real inventory system
• Order up to level inventory policy
• A revision on EOQ/JIT indifference points
• EOQ/JIT indifference points
• From cost perspective
• Switch the inventory system
• Both EOQ model
• Weibull distribution deterioration
• Ramp type demand
• EOQ inventory model
• Inventory model
• Deteriorating items
• Modified economic order quantity (EOQ) model for items
• Quantity model for items with imperfect quality
• Decentralized supply chain
• Two non cooperative games
• Ramp type of demand
• Partial backlogging
• Unsatisfied demand
• Optimal replenishment policies
• Screening cost
• Imperfect quality items
• Probability distribution
• Economic order quantity
• Two component Demand
• Alternating demand rate
• Instantaneous inventory level
• Supplement to an EOQ model
• Inspection errors
• shortage backordering
• The maximum shortage level
• Hsu and Hsu
• Salvage value
• Cash discount
• Trade credit
• Decision support model
• Heaviside’s function
• Discounted selling price
• Supply chain environment
• Time varying demand
• Weibull distribution
• Deterministic inventory model
• Non decreasing function
• Non negative function
• Exponential declining demand
• EOQ inventory mathematical model
• Backlogging rate
• Inventory control
• Price dependent demand
• Inventory models
• Temporary discount
• Imperfective items
• Infinite time horizon
• Non linear demand
• Trade credit policy
• Discounted cash flows
• Managerial finance
• Lecture Managerial finance
• Financial statements
• Cash management