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<p>In this study, we develop a model for managing deteriorating items with expiration dates. This model accounts for both quantity and quality losses and evaluates how these factors collectively influence the best approach when implementing a trade credit policy. The consumer demand for these items depends on their selling price and their freshness condition. Our objective is to analyze the inventory system for deteriorating items within the context of maximizing profits and to establish the most advantageous inventory policy. At first a mathematical model is formulated based on the assumptions to identify the best inventory management strategies. We present key findings to assist retailers in making informed and prompt replenishment decisions aimed at maximizing annual total profit. From the different cases of payment scenario we identified the better period for maximum profitability. Furthermore, we illustrate our model’s effectiveness through numerical examples. To assess the impact of variations in different inventory parameters, we conduct a sensitivity analysis. Our approach distinguishes itself by integrating the impact of both quantity and quality losses within a trade credit policy, a novel contribution to existing studies of inventory management. The findings and improvements in our model is important because it can be used in various supply chain settings, making it a valuable tool for modern inventory management strategies.</p>

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An EOQ model for deteriorating items under two-level trade credit financing with expiration date

  • 期刊论文

  • 发表日期：

    2025年1月31日

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  • V. P. Praveen,
  • M. Manoharan

摘要

In this study, we develop a model for managing deteriorating items with expiration dates. This model accounts for both quantity and quality losses and evaluates how these factors collectively influence the best approach when implementing a trade credit policy. The consumer demand for these items depends on their selling price and their freshness condition. Our objective is to analyze the inventory system for deteriorating items within the context of maximizing profits and to establish the most advantageous inventory policy. At first a mathematical model is formulated based on the assumptions to identify the best inventory management strategies. We present key findings to assist retailers in making informed and prompt replenishment decisions aimed at maximizing annual total profit. From the different cases of payment scenario we identified the better period for maximum profitability. Furthermore, we illustrate our model’s effectiveness through numerical examples. To assess the impact of variations in different inventory parameters, we conduct a sensitivity analysis. Our approach distinguishes itself by integrating the impact of both quantity and quality losses within a trade credit policy, a novel contribution to existing studies of inventory management. The findings and improvements in our model is important because it can be used in various supply chain settings, making it a valuable tool for modern inventory management strategies.