Two storage inventory problem with dynamic demand and interval valued lead-time over finite time horizon under inflation and time-value of money

2008 ◽  
Vol 185 (1) ◽  
pp. 170-194 ◽  
Author(s):  
Jayanta Kumar Dey ◽  
Shyamal Kumar Mondal ◽  
Manoranjan Maiti
Keyword(s):  
Finite Time ◽  
Lead Time ◽  
Time Horizon ◽  
Inventory Problem ◽  
Dynamic Demand ◽  
Time Value Of Money ◽  
Time Value ◽  
Finite Time Horizon ◽  
Value Of Money ◽  
Interval Valued

scholarly journals A finite time-horizon deterministic EOQ model with stock-dependent demand, effects of inflation and time value of money with shortages in all cycles

2007 ◽  
Vol 17 (2) ◽  
pp. 195-207 ◽  
Author(s):  
T. Roy ◽  
K.S. Chaudhuri
Keyword(s):  
Finite Time ◽  
Time Horizon ◽  
Optimal Solution ◽  
Time Value Of Money ◽  
Time Value ◽  
Eoq Model ◽  
Inflation Rates ◽  
Demand Rate ◽  
Finite Time Horizon ◽  
Value Of Money

A finite time-horizon deterministic inventory model is developed, taking the demand rate at any instant to be a function of the on-hand inventory (stock-level) at that instant. Shortages in inventory are allowed. The effects of inflation and time value of money are considered. Two separate inflation rates: namely, the internal (company) and the external (general economy) are introduced. A numerical example of the model is discussed. A sensitivity analysis of the optimal solution with respect to the parameters of the model is examined.

Inventory Policy for a Deteriorating Item with Time-Varying Demand Under Trade Credit and Inflation

2019 ◽  
Vol 7 (2) ◽  
pp. 115-133 ◽  
Author(s):  
Luqi Wang ◽  
Zhijian Chen ◽  
Mingyao Chen ◽  
Ruijie Zhang
Keyword(s):  
Time Horizon ◽  
Trade Credit ◽  
Delay Period ◽  
Time Varying ◽  
Time Value Of Money ◽  
Time Value ◽  
Investment Return ◽  
Finite Time Horizon ◽  
Varying Demand ◽  
Value Of Money

Abstract It’s often the case that the supplier will provide the retailer with a permissible delay period in payments, during which the supplier charges the retailer no interest and the retailer accumulates interest earned from investment return. As a type of price reduction and an alternative to price discount, trade credit helps the supplier encourage the retailer’s ordering. This paper develops an inventory replenishment model for a deteriorating item with time-varying demand and shortages, taking account of trade credit and time value of money under inflation over a finite time horizon. This model is an extension and development of the existing studies related to the inventory system considering trade credit and time value of money and offers a more general model with more flexibility and resilience to handle the situation where demand of the end market is non-decreasing with regard to time.

An Integrated Vendor-Buyer Model with Uncertain Lead Time, Life Time under Inflation and Variable Holding Cost

2011 ◽  
Vol 2 (3) ◽  
pp. 54-63 ◽  
Author(s):  
S. R. Singh ◽  
Diksha Bhatia
Keyword(s):  
Lead Time ◽  
Life Time ◽  
Time Value Of Money ◽  
Time Value ◽  
Deterioration Rate ◽  
Holding Cost ◽  
Variable Holding Cost ◽  
Value Of Money ◽  
Unsatisfied Demand ◽  
Shortage Costs

This study considers the problem of a vendor which supplies an item to the buyer with imprecise partial backlogging rate of unsatisfied demand and non instantaneous deterioration rate considering variable holding cost, the effect of inflation and time value of money. The supplier’s lead time is a stochastic function of his managing cost. The extra costs incurred by the retailer due to the uncertain lead time in terms of shortage costs or lost sales costs should be owed by the supplier. A numerical example is cited to illustrate the results and its significant features. Finally, to study the effect of changes of demand parameters, deterioration, inflation and managing cost on supplier and the retailer’s profit, a sensitivity analysis is presented numerically.

A Time Dependent Order Level Inventory Model for Beta Deterioration in Two Warehouse Systems

2015 ◽  
Vol 6 (2) ◽  
pp. 53-69 ◽  
Author(s):  
Soumendra Kumar Patra ◽  
Tapan Kumar Lenka ◽  
Er. Purna Chandra Ratha
Keyword(s):  
The Other ◽  
Time Dependent ◽  
Inventory Problem ◽  
Time Value Of Money ◽  
Continuous Release ◽  
Time Value ◽  
Distribution Form ◽  
Deterioration Rate ◽  
Demand Rate ◽  
Value Of Money

An inventory problem for a deteriorating item having two separate warehouses is developed under time value of money, whereby one is an own warehouse (OW) of finite dimension(s) and the other is rented warehouse (RW) of infinite dimension(s). Deterioration rate of items in the two warehouses may be different, which is time dependent and deterioration is in the mean beta distribution form. In this study, shortages and complete backlogging have been considered as the other items, whereby the demand rate of items is linear with time in OW and the same is linear with price in case of RW. Also, the stocks of RW transported to OW in continuous release pattern.

An Integrated Vendor-Buyer Model with Uncertain Lead Time, Life Time under Inflation and Variable Holding Cost

2013 ◽  
pp. 371-380
Author(s):  
S. R. Singh ◽  
Diksha Bhatia
Keyword(s):  
Lead Time ◽  
Life Time ◽  
Time Value Of Money ◽  
Time Value ◽  
Deterioration Rate ◽  
Holding Cost ◽  
Variable Holding Cost ◽  
Value Of Money ◽  
Unsatisfied Demand ◽  
Shortage Costs

This study considers the problem of a vendor which supplies an item to the buyer with imprecise partial backlogging rate of unsatisfied demand and non instantaneous deterioration rate considering variable holding cost, the effect of inflation and time value of money. The supplier’s lead time is a stochastic function of his managing cost. The extra costs incurred by the retailer due to the uncertain lead time in terms of shortage costs or lost sales costs should be owed by the supplier. A numerical example is cited to illustrate the results and its significant features. Finally, to study the effect of changes of demand parameters, deterioration, inflation and managing cost on supplier and the retailer’s profit, a sensitivity analysis is presented numerically.

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