tailieunhanh - Optimal replenishment and pricing policies for deteriorating items with quadratic demand under trade credit, quantity discounts and cash discounts

The major objective of this article is to derive the inventory models for deteriorating items by maximizing the total profit of the retailer. | Optimal replenishment and pricing policies for deteriorating items with quadratic demand under trade credit quantity discounts and cash discounts Uncertain Supply Chain Management 7 2019 439 456 Contents lists available at GrowingScience Uncertain Supply Chain Management homepage uscm Optimal replenishment and pricing policies for deteriorating items with quadratic demand under trade credit quantity discounts and cash discounts Nita Shaha and Monika Naika Department of Mathematics Gujarat University India a CHRONICLE ABSTRACT Article history Trade credit mainly signifies increase in order quantity when retailer offers a trade credit to the Received February 7 2018 customer. From the customer s view granting trade credit not only increases sales and revenue Accepted December 6 2018 but also increases opportunity cost. So the choice to offer trade credit is an important managerial Available online consideration. Moreover another significant decision on purchasing is to include or not to December 6 2018 Keywords include cash discount benefits and the motivations behind it. Therefore the major objective of Trade credit this article is to derive the inventory models for deteriorating items by maximizing the total profit Quantity discounts of the retailer. The models includes the cash discount for the retailer depending on ordering Cash discounts quantity and also cash discount for the customer depending on the time. The customer s demand Deteriorating items is expressed as a function of time and price which is appropriate for the products for which Time-price dependent demand demand increases initially and after sometime it starts to decrease. Lastly numerical examples rate along with sensitivity analysis are done which extracts some fruitful managerial insights. 2019 by the authors licensee Growing Science Canada 1. Introduction In various inventory systems the deterioration in products like fruits vegetables medicines etc. is normally observed