Panjab University Research Journal (Science)
| Home | Editorial Board | Advisory Board | Current Issue | Archive | Instructions to Authors | Subscription | Contact Us |
 

DETERMINATION OF THE EOQ UNDER PERMISSIBLE DELAY IN PAYMENTS ALLOWING PARTIAL PAYMENT WHEN QUANTITY RECEIVED IS UNCERTAIN

Khadiza Lokhandwala, Y. K. Shah & *Nita H. Shah
Department of Statistics, Gujarat University, Ahmedabad - 380 009

*Corresponding author : nita_sha_h@rediffmail.com

Abstract
This paper deals with an inventory problem when delay in payments is permissible and yield is random. In practice, the supplier offers some credit period for settlement of accounts which is advantageous for the retailer in the sense that he can sell the product during that time and can earn some interest on the sales revenue during the permissible period of delay. In this problem facility of a part payment is introduced. The effect of part payment on the optimal solution is studied. The working of the model is illustrated with the numerical example.

Key words: Deterministic model, partial payment privilege, random input.
 

 
E-mail: rksingla@pu.ac.in
Copyright 2004, All Rights Reserved by Panjab University Research Journal (Science)
Developed & Designed by Anil Kumar Sharma