Inventory model with time dependent demand, weibull deterioration and permissible delay in payment

Abstract

Present study, we have developed inventory models with allowable delay in payment facility. Linearly time increasing demand rate is presumed. It is assumed that items deteriorate with Weibull distribution decay rate. During the trade-credit period retailer can earn interest and there is no need to pay to the supplier at this time. Now days in spirited market it is additional convenient to provide the trade-credit facility to attract customers. A mathematical illustrations are provided to validate the concept of model and finally sensitivity analysis has been carried out to understand the behavior of model.