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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 694-697Retailer's Optimal Ordering Policy under...

Retailer's Optimal Ordering Policy under Conditions of Allowable Shortage and Two-Level Trade Credit Derived without Derivatives

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Abstract:

An inventory model was developed to determine an ordering policy for the retailer under conditions of allowable shortage and two levels of delay permitted. We present a simple algebraic method to replace the use of differential calculus for determining the retailer's optimal ordering policy. A theorem is presented to obtain the optimal order quantity, and numerical examples are given to illustrate the results obtained in this paper.

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Periodical:

Advanced Materials Research (Volumes 694-697)

Pages:

3428-3433

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.694-697.3428

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Cite this paper

Online since:

May 2013

Authors:

Fei Hu

Keywords:

Inventory, Shortage, Two-Level Trade Credit, Without Derivatives

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© 2013 Trans Tech Publications Ltd. All Rights Reserved

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