A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon

A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon

Many researchers have developed various economic ordering quantity models by assuming an infinite time horizon and constant demand rate. However due to rapid technological advancement, shorter product life cycle and severe competition, those assumptions are no longer realistic. In this paper, we c...

Full description

Bibliographic Details
Main Author: Mohd Omar
Format: Article
Language:English
Published: Universiti Kebangsaan Malaysia 2012
Online Access:http://journalarticle.ukm.my/3941/
http://journalarticle.ukm.my/3941/
http://journalarticle.ukm.my/3941/1/16%2520Mohd%2520Omar.pdf
id ukm-3941
recordtype eprints
spelling ukm-39412016-12-14T06:35:22Z http://journalarticle.ukm.my/3941/ A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon Mohd Omar, Many researchers have developed various economic ordering quantity models by assuming an infinite time horizon and constant demand rate. However due to rapid technological advancement, shorter product life cycle and severe competition, those assumptions are no longer realistic. In this paper, we complement that shortcoming by considering an inventory model that satisfies a continuous time-varying demand rate for a finite time horizon when trade credit period and unit cash discount are allowed. The time horizon consists of n different cycles with equal or different cycles length. The trade credit period was assumed to be proportional to the cycle length. We developed mathematical models and presented a numerical example to support the effectiveness of these models. Universiti Kebangsaan Malaysia 2012-04 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/3941/1/16%2520Mohd%2520Omar.pdf Mohd Omar, (2012) A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon. Sains Malaysiana, 41 (4). pp. 493-497. ISSN 0126-6039 http://www.ukm.my/jsm
repository_type Digital Repository
institution_category Local University
institution Universiti Kebangasaan Malaysia
building UKM Institutional Repository
collection Online Access
language English
description Many researchers have developed various economic ordering quantity models by assuming an infinite time horizon and constant demand rate. However due to rapid technological advancement, shorter product life cycle and severe competition, those assumptions are no longer realistic. In this paper, we complement that shortcoming by considering an inventory model that satisfies a continuous time-varying demand rate for a finite time horizon when trade credit period and unit cash discount are allowed. The time horizon consists of n different cycles with equal or different cycles length. The trade credit period was assumed to be proportional to the cycle length. We developed mathematical models and presented a numerical example to support the effectiveness of these models.
format Article
author Mohd Omar,
spellingShingle Mohd Omar,
A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon
author_facet Mohd Omar,
author_sort Mohd Omar,
title A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon
title_short A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon
title_full A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon
title_fullStr A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon
title_full_unstemmed A Replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon
title_sort replenishment inventory model for items under time-varying demand rates considering trade credit period and cash discount for a finite time horizon
publisher Universiti Kebangsaan Malaysia
publishDate 2012
url http://journalarticle.ukm.my/3941/
http://journalarticle.ukm.my/3941/
http://journalarticle.ukm.my/3941/1/16%2520Mohd%2520Omar.pdf
first_indexed 2023-09-18T19:40:10Z
last_indexed 2023-09-18T19:40:10Z
_version_ 1777405537204305920

Similar Items