![](/images/graphics-bg.png)
An EPQ Inventory Model with Allowable Shortages for Deteriorating Items under Trade Credit Policy
Joint Authors
Ismail, Napsiah
Molamohamadi, Zohreh
Arshizadeh, Rahman
Source
Discrete Dynamics in Nature and Society
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-10, 10 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-02-24
Country of Publication
Egypt
No. of Pages
10
Main Subjects
Abstract EN
This paper attempts to obtain the replenishment policy of a manufacturer under EPQ inventory model with backorder.
It is assumed here that the manufacturer delays paying for the received goods from the supplier and the items start deteriorating as soon as they are being produced.
Based on these assumptions, the manufacturer’s inventory model is formulated, and cuckoo search algorithm is applied then to find the replenishment time, order quantity, and selling price with the objective of maximizing the manufacturer’s total net profit.
Besides, the traditional inventory system is shown as a special case of the proposed model in this paper, and numerical examples are given to demonstrate better performance of trade credit.
These examples are also used to compare the results of cuckoo search algorithm with genetic algorithm and investigate the effects of the model parameters on its variables and net profit.
American Psychological Association (APA)
Molamohamadi, Zohreh& Arshizadeh, Rahman& Ismail, Napsiah. 2014. An EPQ Inventory Model with Allowable Shortages for Deteriorating Items under Trade Credit Policy. Discrete Dynamics in Nature and Society،Vol. 2014, no. 2014, pp.1-10.
https://search.emarefa.net/detail/BIM-474590
Modern Language Association (MLA)
Molamohamadi, Zohreh…[et al.]. An EPQ Inventory Model with Allowable Shortages for Deteriorating Items under Trade Credit Policy. Discrete Dynamics in Nature and Society No. 2014 (2014), pp.1-10.
https://search.emarefa.net/detail/BIM-474590
American Medical Association (AMA)
Molamohamadi, Zohreh& Arshizadeh, Rahman& Ismail, Napsiah. An EPQ Inventory Model with Allowable Shortages for Deteriorating Items under Trade Credit Policy. Discrete Dynamics in Nature and Society. 2014. Vol. 2014, no. 2014, pp.1-10.
https://search.emarefa.net/detail/BIM-474590
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-474590