ECONOMIC ORDER QUANTITY OF DETERIORATING ITEMS UNDER PERMISSIBLE DELAY IN PAYMENTS

Authors
CHU P CHUNG KJ LAN SP
Citation
P. Chu et al., ECONOMIC ORDER QUANTITY OF DETERIORATING ITEMS UNDER PERMISSIBLE DELAY IN PAYMENTS, Computers & operations research, 25(10), 1998, pp. 817-824
Citations number
25
Categorie Soggetti
Operatione Research & Management Science","Computer Science Interdisciplinary Applications","Operatione Research & Management Science","Computer Science Interdisciplinary Applications","Engineering, Industrial
Journal title
Computers & operations research → ACNP
ISSN journal
03050548
Volume
25
Issue
10
Year of publication
1998
Pages
817 - 824
Database
ISI
SICI code
0305-0548(1998)25:10<817:EOQODI>2.0.ZU;2-B
Abstract
The economic ordering policy of deteriorating items under a permissibl e delay in payments is presented in this paper. The inventory system d iscussed here is the same as that of Aggarwal and Jaggi [Aggarwal, S. P. and Jaggi, C. K., Journal of the Operational Research Society, 1995 , 46, 658-662.]. At first, this paper shows that the total variable co st per unit time is piecewise-convex. Then, with the piecewise convexi ty, a solution procedure is developed to improve that described by Agg arwal and Jaggi. Numerical examples are also given to illustrate the s olution procedure. (C) 1998 Elsevier Science Ltd. All rights reserved.