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An Ordering Policy with Time-Proportional Deterioration, Linear Demand and Permissible Delay in Payment

  • Trailokyanath Singh
  • Hadibandhu Pattanayak
Conference paper
Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 33)

Abstract

In classical inventory models, demand is considered as constant, while in the practical cases the demand changes with time. This paper focuses an economic order quantity (EOQ) model for a deteriorating item with time-proportional deterioration rate and time-dependent linear demand rate under permissible delay in payment. The purpose of this study is to find the EOQ for minimizing the total variable cost. Finally, numerical examples are cited to illustrate the model.

Keywords

Deteriorating item EOQ Linear demand Permissible delay in payment Time-proportional deterioration 

Notes

Acknowledgments

The authors are most grateful to two anonymous referees for their constructive comments.

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Copyright information

© Springer India 2015

Authors and Affiliations

  1. 1.Department of MathematicsC. V. Raman College of EngineeringBhubaneswarIndia
  2. 2.Department of MathematicsKIIT UniversityBhubaneswarIndia

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