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Optimal replenishment policy for price dependent demand in different financial scenario under fuzzy environment

Author

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  • Anuj Kumar Sharma
  • Chandra K. Jaggi
  • Sunil Tiwari

Abstract

In literatures of inventory models with permissible delay in payments, authors assumed that retailers have to settle their accounts at the end of credit period and accept only full amount at that time. However, supplier may accept the partial amount at the end of the credit period with unpaid balance settled in due course or he may also accept the full amount at a fix point after the expiry of the credit period instead of accepting the partial payment. Hence in this direction, this paper establishes an inventory model which incorporates the above discussed realistic approach for settling the accounts when supplier offers permissible delay in payments under fuzzy environment. In order to obtain the validity of the model, two hypothetical examples solve by proposed algorithm and a comprehensive sensitivity analyses has been performed to measure the robustness of model.

Suggested Citation

  • Anuj Kumar Sharma & Chandra K. Jaggi & Sunil Tiwari, 2017. "Optimal replenishment policy for price dependent demand in different financial scenario under fuzzy environment," International Journal of Inventory Research, Inderscience Enterprises Ltd, vol. 4(2/3), pages 103-131.
    • Handle: RePEc:ids:ijires:v:4:y:2017:i:2/3:p:103-131
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    Cited by:

    1. Monalisha Tripathy & Geetanjali Sharma & Anuj Kumar Sharma, 2022. "An EOQ inventory model for non-instantaneous deteriorating item with constant demand under progressive financial trade credit facility," OPSEARCH, Springer;Operational Research Society of India, vol. 59(4), pages 1215-1243, December.

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