Title of article :
A Comparative Study Between Inventory Followed by Shortages and Shortages Followed by Inventory Under Trade-Credit Policy
Author/Authors :
khanra, s. tamralipta mahavidyalaya - department of mathematics, India , mandal, buddhadev vidyasagar university - department of applied mathematics with oceanology and computer programming, India , sarkar, b. hanyang university - department of industrial management engineering, South Korea
Abstract :
This paper deals with a comparison between inventory followed by shortages model and shortages followed by inventory model with variable demand rate. It is assumed that the stock deteriorates over time which follows a two parameter Weibull distribution. Both the models are assumed fixed trade credit period to the retailer from the supplier. The model is solved analytically and the results are illustrated with numerical examples.
Keywords :
Comparative study , Variable demand , Probabilistic deterioration , Permissible delay , in , payments
Journal title :
International Journal Of Applied and Computational Mathematics
Journal title :
International Journal Of Applied and Computational Mathematics
