Advance sustainable inventory management through advertisement and trade-credit policy

Buddhadev Mandal; Bikash Koli Dey; Sudhansu Khanra; Biswajit Sarkar

doi:10.1051/ro/2020067

Advance sustainable inventory management through advertisement and trade-credit policy

Buddhadev Mandal, Bikash Koli Dey, Sudhansu Khanra, Biswajit Sarkar

Department of Industrial Engineering

Research output: Contribution to journal › Article › peer-review

20 Citations (Scopus)

Abstract

The concept of advanced sustainable inventory management, where demand pattern stock level and advertising dependent under trade-credit policy is taking account in this present study. Optimal credit period and cycle time are the main objective of this advanced system. A developed solution methodology is derived to show the existence of global optimality under optimum credit period and cycle time. The main concern of this advanced system is to maximize the annual total system profit of retailer with finite replenishment rate. Numerical illustration are carry forward for different cases to prove the stainability along with real impact of this model. Sensitive analysis for the key parameters is discussed in sensitivity analysis section along with some real managerial insights.

Original language	English
Pages (from-to)	261-284
Number of pages	24
Journal	RAIRO - Operations Research
Volume	55
DOIs	https://doi.org/10.1051/ro/2020067
Publication status	Published - 2021 Jan 1

Bibliographical note

Funding Information:
Acknowledgements. This work is supported by the National Research Foundation of Korea (NRF) grant funded by the Korea government (MSIT) (NRF - 2020R1F1A1064460).

Publisher Copyright:
© EDP Sciences, ROADEF, SMAI 2021.

All Science Journal Classification (ASJC) codes

Theoretical Computer Science
Computer Science Applications
Management Science and Operations Research

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10.1051/ro/2020067

Cite this

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abstract = "The concept of advanced sustainable inventory management, where demand pattern stock level and advertising dependent under trade-credit policy is taking account in this present study. Optimal credit period and cycle time are the main objective of this advanced system. A developed solution methodology is derived to show the existence of global optimality under optimum credit period and cycle time. The main concern of this advanced system is to maximize the annual total system profit of retailer with finite replenishment rate. Numerical illustration are carry forward for different cases to prove the stainability along with real impact of this model. Sensitive analysis for the key parameters is discussed in sensitivity analysis section along with some real managerial insights.",

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N1 - Funding Information: Acknowledgements. This work is supported by the National Research Foundation of Korea (NRF) grant funded by the Korea government (MSIT) (NRF - 2020R1F1A1064460). Publisher Copyright: © EDP Sciences, ROADEF, SMAI 2021.

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Advance sustainable inventory management through advertisement and trade-credit policy

Abstract

Bibliographical note

All Science Journal Classification (ASJC) codes

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