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An Inventory Model for Deteriorating Items with Permissible Delay in Payment and Inflation Under Price Dependent Demand

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Author(s): Manisha Pal | Hare Krishna Maity

Journal: Pakistan Journal of Statistics and Operation Research
ISSN 1816-2711

Volume: 8;
Issue: 3;
Date: 2012;
Original page

Keywords: Inventory | Delay in payment | Deteriorating items | Backlogging of shortage | Selling price dependent demand | Inflation.

ABSTRACT
The paper studies an inventory model for deteriorating items when demand for the item is dependent on the selling price. Shortages are allowed and backlogged, and price inflation is taken into consideration. Further, it is assumed that the supplier permits the inventory manager to settle his accounts within a given specified time period. Numerical examples are cited to illustrate the model and to study the sensitivity of the model to change in model parameters.
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