Analysis of a Two-Storage System for Advance Payment Policies with the Partial Backlogged Shortage

• DOI: 10.22059/jieng.2021.323934.1766
• Publication Date: 2020-07-01
• Authors: Ali Akbar Shaikh; Rajan Mondal; Argha Nath Bhatta...; Ashok Kumar; Goutam Mandal
• Keywords: Economic shortage; Profit model; Constant (computer programming)

Nowadays, due to the highly competitive situation, every business organization faces many shortcomings for smoothly running of his/her own business. So, survive in competition, different types policies are required (all-unit discount, trade credit etc.). This type problem is presented mathematically as an optimization and solved. In this work, advance payment facility with n equal instalment before receiving products introduced formulate a two-storage inventory model. model studied under assumptions price advertisement’s frequency-dependent customers’ demand, constant deterioration exponential backlogging rate. Deterioration started both warehouse at same time. To solve proposed model, MATHEMATICS MATLAB software used. The concavity objective function (average profit) shown numerically well graphically by using MATHEMATICA supporting numerical example. Also, it that negative definite Finally, sensitivity analyses carried out pictorially changes various known parameters.