Unpreserved Inventory Models with Inflation Induced Demand under Progressive Credit Limit

  IJMTT-book-cover
 
International Journal of Mathematics Trends and Technology (IJMTT)
 
© 2017 by IJMTT Journal
Volume-46 Number-4
Year of Publication : 2017
Authors : Vijesh Kumar, Adeeba Umar
  10.14445/22315373/IJMTT-V46P533

MLA

Vijesh Kumar, Adeeba Umar "Unpreserved Inventory Models with Inflation Induced Demand under Progressive Credit Limit", International Journal of Mathematics Trends and Technology (IJMTT). V46(4):230-234 June 2017. ISSN:2231-5373. www.ijmttjournal.org. Published by Seventh Sense Research Group.

Abstract
Inventory control has one of the most important tasks faced by modern manager. The investment in inventories for most form their assets committed to inventories. Further inventories one often the least stable and difficult to manage type of assist. Rapid change in level of business activities effect on inventories. In recent year, change in interest rate effect the inventories. Employ and customer theft has also led to increased cost of maintaining inventories. But carrying inventory is a costly thing as the storage cost, stock out cost, capacity related cost, item cost, ordering cost, deterioration and expiration of the product etc. must be taken in to account. Some policies, procedures and techniques employed in maintaining the optimum number of amount of each inventory item is the inventory management. While inventory is an asset, it is a non productive asset since it earns no interest but costs an organization in handling insurance, taxes, shrinkage and space. Careful inventory management can make a huge difference in the profitability of a firm.

Reference
1) Begum, R., Sahoo, R. R., & Sahu, S. K. (2012). A replenishment policy for items with price dependent demand, time-proportional deterioration and no shortages. International Journal of Systems Science, 43, 903–910.
2) Benkherouf, L. (2014), “On an inventory model for deteriorating items with stock dependent and time varying demand rates”, Computers & Operations Research, 31, 223- 240.
3) Bhunia, A. K., Pal, P., Chattopadhyay, S., & Medya, B. K. (2011). An inventory model of two – warehouse system with variable demand dependent on instantaneous displayed stock and marketing decision via hybrid RCGA. International Journal of Industrial Engineering Computation, 23, 51–68.
4) Chen, L.H. and Kang, F.S. (2012), “Integrated vendor-buyer cooperative inventory models with permissible delay in payments”, E.J.O.R, 183 (2), 658-673.
5) Deane, J., & Agarwal, A. (2012). Scheduling online advertisements to maximize revenue under variable display frequency. Omega, 40, 562–570.
6) Dutta, T.K. and Pal, A.K. (2010), “Order level inventory system with power demand pattern for items with variable rate of deterioration”, Indian Journal of Pure and Applied Mathematics (I.J.P.A.M.), 19(11), 1043-1053.
7) Guria, A., Das, B., Mondal, S., & Maiti, M. (2013). Inventory policy for an item with inflation induced purchasing price, selling price and demand with immediate part payment. Applied Mathematical Modelling, 37, 240–257
8) Huang, Y.F. (2013), “The optimal cycle time for EPQ inventory model under permissible delay in payments”, International Journal of Production Economics, 84, 3, 307-318.
9) Huang, Y.F. (2015), The optimal inventory policies under permissible delay in payments depending on the ordering quantity, International Journal of Production Economics, 95, 2, 203-213.
10) Musa, A., & Sani, B. (2012). Inventory ordering policies of delayed deteriorating items under permissible delay in payments. International Journal of Production Economics, 136, 75–83.
11) Shah, N. H., Gor, A. S., & Wee, H. M. (2010). An integrated approach for optimal unit price and credit period for deteriorating inventory system when the buyer’s demand is price sensitive. American Journal of Mathematical and Management Sciences, 30, 317–330.
12) Shah, N. H., Soni, H. N., & Patel, K. A. (2012). Optimizing inventory and marketing policy for non-instantaneous deteriorating items with generalized type deterioration and holding cost rates. Omega, 41, 421–430.
13) Widyadana, G. A., & Wee, H. M. (2012). An economic production quantity model for deteriorating items with multiple production setups and rework. International Journal of Production Economics, 138, 62–67.
14) Yang, H. L., & Chang, C. T. (2013). A two-warehouse partial backlogging inventory model for deteriorating items with permissible delay in payment under inflation. Applied Mathematical Modelling, 37, 2717–2726.

Keywords
Inventory, modern manager, policies.