Study of Inventory Model for Decaying Items through Stock-Dependent Demand under Permissible Delay in Payments

Articles in Press

Document Type : Original Article

Authors

1 Department of Mathematics, B K Birla Institute of Engineering & Technology, Pilani (Rajasthan)

2 Bhagwant University, Ajmer (Rajasthan)

3 Shri Rawatpura Sarkar University, Raipur (Chhattisgarh)

10.22121/aotp.2021.295662.1079

Abstract

Today’s any business organization improve their customer service and determine the new policy which attract the customer demand for their items. In this context, an inventory model along with decaying items and demand rate considered as dependent on stock, is needed to increases the customer attraction for the product. In this paper we optimize the total inventory cost with the constraints involved. Finally the sensitivity of the constraints with total inventory cost is demonstrated. Here we also demonstrate the permissible delay in payment policy is always more beneficial to improve the number of customer.

Keywords

Annals of Optimization Theory and Practice

Articles in Press, Accepted Manuscript
Available Online from 12 September 2021

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