Optimal Pricing, Shipments and Ordering Policies for Single-Supplier Single-Buyer Inventory System with Price Sensitive Stock-Dependent Demand and Order-Linked Trade Credit

Dr. Nita H. Shah
Dr. Nita H. Shah
Dushyantkumar G. Patel
Dushyantkumar G. Patel
Digeshkumar B. Shah
Digeshkumar B. Shah
Gujarat University Gujarat University

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Optimal Pricing, Shipments and Ordering Policies for Single-Supplier Single-Buyer Inventory System with Price Sensitive  Stock-Dependent Demand and Order-Linked Trade Credit

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Abstract

The integrated inventory policy of single-supplier single-buyer is studied under orderdependent trade credit terms. The demand is assumed to be price-sensitive stock-dependent. Under order-dependent trade credit scenario, the buyer is eligible for settlement of account at a allowable delay period if the order quantity is larger than that of pre-specified order by the supplier. The objective is to maximize joint profit of the supply chain with respect retail price of the unit and order time and number is given to compute optimal decision policy. The numerical example is given to illustrate the mathematical concept. Sensitivity analysis is carried out to deduce managerial insights.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Dr. Nita H. Shah. 1970. \u201cOptimal Pricing, Shipments and Ordering Policies for Single-Supplier Single-Buyer Inventory System with Price Sensitive Stock-Dependent Demand and Order-Linked Trade Credit\u201d. Global Journal of Research in Engineering - G: Industrial Engineering GJRE-G Volume 13 (GJRE Volume 13 Issue G1).

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Journal Specifications

Crossref Journal DOI 10.17406/gjre

Print ISSN 0975-5861

e-ISSN 2249-4596

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Optimal Pricing, Shipments and Ordering Policies for Single-Supplier Single-Buyer Inventory System with Price Sensitive Stock-Dependent Demand and Order-Linked Trade Credit

Dr. Nita H. Shah
Dr. Nita H. Shah <p>Gujarat University</p>
Dushyantkumar G. Patel
Dushyantkumar G. Patel
Digeshkumar B. Shah
Digeshkumar B. Shah

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