An Inventory Model for Perishable Items with Time Varying Stock Dependent Demand and Trade Credit under Inflation

Sushil Kumar^*, U. S. Rajput

Department of Mathematics & Astronomy, University of Lucknow, Lucknow, India.

DOI: 10.4236/ajor.2015.55036                

Abstract

In the classical inventory models, it is assumed that the retailer pays to the supplier as soon as he received the items and in such cases the supplier offers a cash discount or credit period (permis-sible delay) to the retailer. In this paper we presented an inventory model for perishable items with time varying stock dependent demand under inflation. It is assumed that the supplier offers a credit period to the retailer and the length of credit period is dependent on the order quantity. The purpose of our study is to minimize the present value of retailer’s total cost. Numerical examples are also given to demonstrate the presented mode.

Keywords

Inventory, Deterioration, Perishable, Credit Period, Time Varying Stock Dependent Demand

Conflicts of Interest

The authors declare no conflicts of interest.

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