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Goyal, S.K., Teng, J.T. and Chang, C.T. (2007) Optimal Ordering Policies When the Supplier Provides a Progressive Interest-Payable Scheme. European Journal of Operational Research, 179, 404-413.
https://doi.org/10.1016/j.ejor.2006.03.037

has been cited by the following article:

  • TITLE: An Inventory Model for Ramp-Type Demand with Two-Level Trade Credit Financing Linked to Order Quantity

    AUTHORS: Hui-Ling Yang

    KEYWORDS: Ramp-Type Demand, Two-Level, Trade Credit, Finance, Order Quantity

    JOURNAL NAME: Open Journal of Business and Management, Vol.7 No.2, March 7, 2019

    ABSTRACT: In the traditional economic order quantity (EOQ) model, it is assumed that the demand rate is constant. Thereafter, many researchers developed inventory model with time-varying demand to reflect sales in different phases of product life cycle in the market. However, in practice, especially for fashionable and high-tech product, the demand rate during the growth stages of its life cycle increases significantly with linear or exponential in the growth stage and then gradually stabilizes, and remains near constant in the maturity stage. It can be taken a ramp-type demand rate into account. Furthermore, in today’s supply chain, a supplier usually offers a permissible delay in payment to retailers to encourage them to buy more products, and a retailer in turn provides a downstream trade-credit period to its customers. Therefore, this paper focus on 1) ramp-type demand rate and 2) the upstream and downstream trade credit financing linked to order quantity for retailer is considered. The objective is to find the optimal replenishment cycle and order quantity to keep the total relevant cost per unit time as minimum as possible. The study shows that in each case discussed, the optimal solution not only exists but also is unique. Numerical examples are provided to illustrate the proposed model. Finally, some relevant managerial insights based on the results are characterized.