Optimal Policies for Deteriorating Items with Maximum Lifetime and Two-Level Trade Credits
Joint Authors
Shah, Digeshkumar B.
Shah, Nita H.
Patel, Dushyantkumar G.
Source
International Journal of Mathematics and Mathematical Sciences
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-5, 5 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-04-10
Country of Publication
Egypt
No. of Pages
5
Main Subjects
Abstract EN
The retailer’s optimal policies are developed when the product has fixed lifetime and also the units in inventory are subject to deterioration at a constant rate.
This study will be mainly applicable to pharmaceuticals, drugs, beverages, and dairy products, and so forth.
To boost the demand, offering a credit period is considered as the promotional tool.
The retailer passes credit period to the buyers which is received from the supplier.
The objective is to maximize the total profit per unit time of the retailer with respect to optimal retail price of an item and purchase quantity during the optimal cycle time.
The concavity of the total profit per unit time is exhibited using inventory parametric values.
The sensitivity analysis is carried out to advise the decision maker to keep an eye on critical inventory parameters.
American Psychological Association (APA)
Shah, Nita H.& Patel, Dushyantkumar G.& Shah, Digeshkumar B.. 2014. Optimal Policies for Deteriorating Items with Maximum Lifetime and Two-Level Trade Credits. International Journal of Mathematics and Mathematical Sciences،Vol. 2014, no. 2014, pp.1-5.
https://search.emarefa.net/detail/BIM-466300
Modern Language Association (MLA)
Shah, Nita H.…[et al.]. Optimal Policies for Deteriorating Items with Maximum Lifetime and Two-Level Trade Credits. International Journal of Mathematics and Mathematical Sciences No. 2014 (2014), pp.1-5.
https://search.emarefa.net/detail/BIM-466300
American Medical Association (AMA)
Shah, Nita H.& Patel, Dushyantkumar G.& Shah, Digeshkumar B.. Optimal Policies for Deteriorating Items with Maximum Lifetime and Two-Level Trade Credits. International Journal of Mathematics and Mathematical Sciences. 2014. Vol. 2014, no. 2014, pp.1-5.
https://search.emarefa.net/detail/BIM-466300
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-466300