A trade credit inventory model with multivariate demand for non-instantaneous decaying products

Abstract

The present study proposed a mathematical example using multivariate demand with non-instant decaying products. For any business organization, the carrying cost is an important term to find total inventory cost. Here we consider the numerical example to get the best optimum solution for understanding the behavior of inventory model. We also used sensitivity analysis to show the effect of variation in total profit per item with respect to changes in the other constraints to illustrate the model. The scenario of today's market is to encourage the retail dealers allowing them a delay in making the payments without them incurring any interest.