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An EOQ Model for Deteriorating Items under Trade Credit Policy with Unfaithfulness Nature of Customers

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Engineering Mathematics and Computing

Part of the book series: Studies in Computational Intelligence ((SCI,volume 1042))

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Abstract

In this study, an EOQ model has been developed for a deteriorating item with time dependent deterioration with a fixed expiration date under partial trade credit policy considering the unfaithfulness nature of the base customers. The main purpose of this research work is two folds. First, the unethical behaviour of the base customers is considered. On the other hand, a non-trivial flaw has been rectified, considering all the inventory models with deteriorating items under trade credit policy, developed in the last two decades. The proposed model is illustrated with various numerical examples. Some managerial insights are also outlined.

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Author information

Authors and Affiliations

  1. Department of Mathematics and Humanities (DoMH), Sardar Vallabhbhai National Institute of Technology, Surat, Gujarat, India

    Rituparna Mondal & Ranjan Kumar Jana

  2. Department of Applied Mathematics with Oceanology and Computer Programming, Vidyasagar University, Paschim Medinipur, Midnapore, West Bengal, India

    Prasenjit Pramanik & Manoranjan Maiti

  3. Department of Mathematics, Mahishadal Raj College, Purba Medinipur, Mahishadal, West Bengal, India

    Manas Kumar Maiti

Authors
  1. Rituparna Mondal
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  2. Prasenjit Pramanik
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  3. Ranjan Kumar Jana
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  4. Manas Kumar Maiti
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  5. Manoranjan Maiti
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Corresponding author

Correspondence to Ranjan Kumar Jana .

Editor information

Editors and Affiliations

  1. Division of Maritime Transportation, Mokpo National Maritime University, Mokpo, Korea (Republic of)

    Park Gyei-Kark

  2. Department of Applied Sciences, Haldia Institute of Technology, Haldia, India

    Dipak Kumar Jana

  3. Department of Applied Sciences, Haldia Institute of Technology, Haldia, India

    Prabir Panja

  4. Department of Electronic Engineering, Universiti Tun Hussein Onn Malaysia, Batu Pahat, Malaysia

    Mohd Helmy Abd Wahab

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Mondal, R., Pramanik, P., Jana, R.K., Maiti, M.K., Maiti, M. (2023). An EOQ Model for Deteriorating Items under Trade Credit Policy with Unfaithfulness Nature of Customers. In: Gyei-Kark, P., Jana, D.K., Panja, P., Abd Wahab, M.H. (eds) Engineering Mathematics and Computing. Studies in Computational Intelligence, vol 1042. Springer, Singapore. https://doi.org/10.1007/978-981-19-2300-5_17

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  • DOI: https://doi.org/10.1007/978-981-19-2300-5_17

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-19-2299-2

  • Online ISBN: 978-981-19-2300-5

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