A trade credit policy in an EOQ model with stock sensitive demand and shortages for deteriorating items

2020 ◽  
Vol 10 (4) ◽  
pp. 350
Author(s):  
Nidhi Handa ◽  
S.R. Singh ◽  
Neha Punetha ◽  
Shilpy Tayal
Keyword(s):  
Trade Credit ◽  
Deteriorating Items ◽  
Credit Policy ◽  
Eoq Model

A Fuzzy EOQ Model for Deteriorating Items With Allowable Shortage and Inspection Under the Trade Credit

2018 ◽  
pp. 233-249
Author(s):  
Chandra K. Jaggi ◽  
Bimal Kumar Mishra ◽  
T. C. Panda
Keyword(s):  
Trade Credit ◽  
Method Comparison ◽  
Deteriorating Items ◽  
Order Quantity ◽  
Centroid Method ◽  
Deterioration Rate ◽  
Eoq Model ◽  
Permissible Delay In Payment ◽  
Demand Rate ◽  
Fuzzy Cost

This chapter develops an economic order quantity model for deteriorating items with initial inspection, allowable shortage under the condition of permissible delay in payment by fuzzify the demand rate, deterioration rate and inspection parameter of non-defective parameter based on as triangular fuzzy numbers to fit the real word. The total fuzzy cost function has been defuzzified using signed distance and centroid method. Comparison between these two methods has also been discussed. The validity of the model has been established with the help of a hypothetical numerical example.

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