A periodic review inventory model with stock dependent demand, permissible delay in payment and price discount on backorders
DOI:
https://doi.org/10.2298/YJOR120512017PKeywords:
Periodic review model, stock dependent demand, shortage, price discount on backorder, delay in paymentAbstract
In this paper we study a periodic review inventory model with stock dependent demand. When stock on hand is zero, the inventory manager offers a price discount to customers who are willing to backorder their demand. Permissible delay in payments allowed to the inventory manager is also taken into account. Numerical examples are cited to illustrate the model.References
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