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A Deterministic Inventory Model for Deterioraing Items with Selling Price Dependent Demand and Parabolic Time Varying Holding Cost under Trade Credit
Vipin Kumar1, Gopal Pathak2, C.B.Gupta3

1Vipin Kumar, Department of Mathematics BKBIET Rajasthan, India.
2Gopal Pathak, Pilani Research Scholar, Mewar University, Rajasthan, India.
3C.B.Gupta, Department of Mathematics BITS Pilani, Rajasthan, India.
Manuscript received on August 04, 2013. | Revised Manuscript received on August 27, 2013. | Manuscript published on September 05, 2013. | PP: 33-37 | Volume-3, Issue-4, September 2013. | Retrieval Number: D1748093413/2013©BEIESP
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© The Authors. Published By: Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Abstract: In the present study, we have developed a deterministic inventory model for deteriorating environment under the price dependent demand with parabolic time varying holding cost and trade credit. Supplier offers a credit limit to the customer and during that span of time no interest is charged, but after the expiry of the specified time limit, the supplier will charge some interest. The customer has the reserve capital to make the payments at the beginning, but however, he decides to take the advantage of the credit limit facility provided by the supplier. This study has main focus to establish the mathematical model for an inventory system under the above conditions. At the end of the paper, numerical examples are provided to illustrate the problem and sensitivity analyses have been carried out for showing the effect of variation in the parameters. Mathematical subject classification: 90B05.
Keywords: Deterioration, Price dependent demand, Trade credit, parabolic varying holding cost.