An Inventory System for Deteriorating Products with Ramp-Type Demand Rate under Two-Level Trade Credit FinancingReport as inadecuate




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Advances in Decision SciencesVolume 2011 2011, Article ID 761961, 15 pages

Research ArticleDepartment of Mathematics, University of Ioannina, 45110 Ioannina, Greece

Received 27 December 2010; Accepted 13 June 2011

Academic Editor: Henry Schellhorn

Copyright © 2011 G. Darzanou and K. Skouri. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

An inventory system for deteriorating products, with ramp-type demand rate, under two-level trade credit policy is considered. Shortages are allowed and partially backlogged. Sufficient conditions of the existence and uniqueness of the optimal replenishment policy are provided, and an algorithm, for its determination, is proposed. Numerical examples highlight the obtained results, and sensitivity analysis of the optimal solution with respect to major parameters of the system is carried out.





Author: G. Darzanou and K. Skouri

Source: https://www.hindawi.com/



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