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Optimal credit period and ordering quantity for credit dependent trended demand and deteriorating items with maximum lifetime

Shah N. H., Shah D. B., Patel D. G.

Control and Cybernetics

2015

Vol. 44, no. 2

311--320

In this paper, an inventory system is analyzed regarding a trended demand. The seller oﬀers its buyer a credit period for settling the account, which attracts more buyers and enhances market demand. However, the oﬀer of credit period leads to default risk for the supplier. The units in inventory are deteriorating continuously and also have deﬁnite maximum lifetime. The aim is to maximize the proﬁt of the retailer. Numerical examples are given to validate the developed mathematical model. Sensitivity analysis is performed to obtain the critical inventory parameters and deduce the managerial strategies.