Supply chain models for deteriorating products with ramp type demand rate under permissible delay in payments

Authors:
K. Skouri;I. Konstantaras;S. Papachristos;J. -T. Teng
Affiliations:
Department of Mathematics, University of Ioannina, 45110 Ioannina, Greece;Department of Mathematics, University of Ioannina, 45110 Ioannina, Greece and Department of Business Administration, Business Excellence Laboratory, University of Macedonia, 156 Egnatia Street, 54 ...;Department of Business Administration of Food and Agricultural Products, University of Ioannina, 30100 Agrinio, Greece;Department of Marketing and Management Sciences, The William Paterson University of New Jersey, Wayne, NJ 07470-2103, United States
Venue:
Expert Systems with Applications: An International Journal
Year:
2011

Citing 5
Cited 2

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Abstract

In this paper an order level inventory model for deteriorating items with general ramp type demand rate under conditions of permissible delay in payments is proposed. In this model shortages are allowed and partially backlogged. The backlogging rate is variable and dependent on the waiting time for the next replenishment. Its study requires exploring the feasible ordering relations between the time parameters appeared, which leads to three models. For each model the optimal replenishment policy is determined. The sufficient conditions of the existence and uniqueness of the optimal solutions are also provided. Suitably selected numerical examples highlight the obtained results. Sensitivity analysis of the optimal solution with respect to major parameters of the system has been carried out and the implications are discussed.