An Inventory Model deteriorating itemswith Demand Dependent Production Rate under Permissible Delay Payment
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Abstract
This paper considers a single supplier offering trade credit to demand a dependent production
rate with ramp type demand, which has not been reported in the literature. Previously, two
inventory models have been developed under the above conditions.Secondly, order quantity and
replenishment cycle time algorithms are designed to be optimized. Thefindings of the above
study show that lowering the production rate, decreasing the order insertion frequency and
decreasing the production rate leads to cost reduction, with no effect on the optimal solution as
well as demand-dependent production rates.The retailer will cut the replenishment cycle when
the growth time is higher than the business loan; when it is small, within the maturity period of
the goods, the optimal order cycle and the quantity of the optimal quantity will have no effect on
the trade credit. Finally, numerical examples are discussed to demonstrate sensitivity analysis of
optimal solutions.
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