An economic production quantity (EPQ) model for a deteriorating item with partial trade credit policy for price dependent demand under inflation and reliability
| Autor: | Akbar Shaikh Ali, Cárdenas-Barrón Leopoldo Eduardo, Kumar Manna Amalesh, Céapedes-Mota Armando |
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| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: | |
| Zdroj: | Yugoslav Journal of Operations Research, Vol 31, Iss 2, Pp 139-151 (2021) |
| Druh dokumentu: | article |
| ISSN: | 0354-0243 1820-743X |
| DOI: | 10.2298/YJOR200515036S |
| Popis: | It is well-known that the production-inventory problem for deteriorating items in the supply chain is a challenge when deciding on how many products to manufacture to obtain a maximum total profit. This research work develops an economic production quantity model for a deteriorating item under partial trade credit policy considering inflation, the effect of reliability factor of a production system, and the demand depending on the price of a product whose selling price is optimized. The production inventory model is formulated as a nonlinearly constrained optimization problem by analyzing different cases. Finally, through a numerical example, a sensitivity analysis is performed to study the effect of different parameters, changing one parameter at a time and keeping others fixed at their original values. |
| Databáze: | Directory of Open Access Journals |
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