Inventory Policy for a Deteriorating Item with Time-Varying Demand Under Trade Credit and Inflation
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Journal of Systems Science and Information  2019, Vol. 7 Issue (2): 115-133    DOI: 10.21078/JSSI-2019-115-19
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Inventory Policy for a Deteriorating Item with Time-Varying Demand Under Trade Credit and Inflation
Luqi WANG1, Zhijian CHEN2, Mingyao CHEN2, Ruijie ZHANG1
1. South China University of Technology, Guangzhou 510640, China;
2. China Tower Co., Harbin 151000, China
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Abstract 

It's often the case that the supplier will provide the retailer with a permissible delay period in payments, during which the supplier charges the retailer no interest and the retailer accumulates interest earned from investment return. As a type of price reduction and an alternative to price discount, trade credit helps the supplier encourage the retailer's ordering. This paper develops an inventory replenishment model for a deteriorating item with time-varying demand and shortages, taking account of trade credit and time value of money under inflation over a finite time horizon. This model is an extension and development of the existing studies related to the inventory system considering trade credit and time value of money and offers a more general model with more flexibility and resilience to handle the situation where demand of the end market is non-decreasing with regard to time.

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Articles by authors
Luqi WANG
Zhijian CHEN
Mingyao CHEN
Ruijie ZHANG
Key wordsinventory   deteriorating items   time-varying demand   trade credit   inflation     
Received: 2017-04-24;
Cite this article:   
Luqi WANG,Zhijian CHEN,Mingyao CHEN et al. Inventory Policy for a Deteriorating Item with Time-Varying Demand Under Trade Credit and Inflation[J]. Journal of Systems Science and Information, 2019, 7(2): 115-133.
URL:  
http://123.57.41.99/Jwk_si/EN/10.21078/JSSI-2019-115-19     or     http://123.57.41.99/Jwk_si/EN/Y2019/V7/I2/115
 
[1] Yongwu ZHOU, Zhaozhan LIN. Impacts of Hyperbolic Discounting on Inventory Replenishment Policy Under Inflation[J]. Journal of Systems Science and Information, 2016, 4(1): 24-39.
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