An Optimal Inventory Model Based on Delay in Payment and Stock-Dependent Selling RateReport as inadecuate




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An inventory model is established to minimize the average cost of inventory system with stockdependent selling rate under assumption that the supplier offers the retailer a delay period in this paper. Then, the existence and uniqueness of optimal solution of the model are proved and an algorithm to determine optimal ordering policy for the retailer is presented, numerical examples are given to illustrate the theorems in the end of this article.

KEYWORDS

Inventory; stock-dependent demand; delay in payment

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Author: Yiqian Pan, Hai Huang

Source: http://www.scirp.org/



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