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A Deterministic Inventory Model for Deteriorating Items with Price Dependent Demand and Time Varying Holding Cost under Trade Credit

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Author(s): Mukesh Kumar | Anand Chauhan | Rajat Kumar

Journal: International Journal of Soft Computing & Engineering
ISSN 2231-2307

Volume: 2;
Issue: 1;
Start page: 99;
Date: 2012;
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Keywords: Deterioration | price dependent Demand | Trade credit | time varying holding cost.

ABSTRACT
In this proposed research, we developed adeterministic inventory model for price dependent demand withtime varying holding cost and trade credit under deterioratingenvironment, supplier offers a credit limit to the customerduring whom there is no interest charged, but upon the expiry ofthe prescribed time limit, the supplier will charge some interest.However, the customer has the reserve capital to make thepayments at the beginning, but decides to take the benefit of thecredit limit. This study has two main purposes, first themathematical model of an inventory system are establish underthe above conditions. Second this study demonstrate that theoptimal solution not only exists but also feasible. Computationalanalysis illustrates the solution procedure and the impact of therelated parameter on decision and profits.
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