Abstract
In order to prevent a company from placing orders too frequently or having an excess of inventory on hand, a number of EOQ models have evolved throughout time to ensure that the right amount of inventory is ordered in every batch. EOQ models are required for inventory management, which is the evaluation of the ordering, storing, and usage of a company’s inventory. This paper focuses on the development of an EOQ model for a specific class of goods, namely growing items, when the supplier extends a trade credit policy to the buyer. The weight of each item increases at a consistent rate, and the growth function of the items is assumed to be a linear growth function. Prior to a specific numerical model that is illustrated with the help of numerical examples, a broad scientific model has been proposed. Sensitive research is offered to evaluate the impact of the model’s major variables while taking its decision variables and objective function into account.
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Sharma, M., Mittal, M. (2023). Economic Ordering Policies for Growing Items with Linear Growth Function Under Trade-Credit Financing. In: Phanden, R.K., Kumar, R., Pandey, P.M., Chakraborty, A. (eds) Advances in Industrial and Production Engineering. FLAME 2022. Lecture Notes in Mechanical Engineering. Springer, Singapore. https://doi.org/10.1007/978-981-99-1328-2_33
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DOI: https://doi.org/10.1007/978-981-99-1328-2_33
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