Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
4630818 | Applied Mathematics and Computation | 2011 | 9 Pages |
Abstract
In this paper, an EOQ (Economic Order Quantity) model is developed for a deteriorating item having time dependent demand when delay in payment is permissible. The deterioration rate is assumed to be constant and the time varying demand rate is taken to be a quadratic function of time. Mathematical models are also derived under two different circumstances, i.e. Case I: The credit period is less than or equal to the cycle time for settling the account and Case II: The credit period is greater than the cycle time for settling the account. The results are illustrated with numerical examples. Justification for considering a time quadratic demand and permissible delay in payment are discussed.
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
S. Khanra, S.K. Ghosh, K.S. Chaudhuri,