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An EOQ Model for A Deteriorating Item With Time Dependent Exponentially Declining Demand Under Permissible Delay In Payment

In this study, an EOQ (Economic Order Quantity) inventory mathematical model is constructed for a deteriorating item having time dependent demand when delay in payment is permissible. The deterioration rate is assumed to be a constant and the time varying demand rate is taken to be an exponential declining function of time. Mathematical models are also derived under two different circumstances, that is, Case I: The credit period is less than or equal to the cycle time for setting the account and Case II: The credit period is greater than the cycle time for setting the account. Numerical examples are provided to illustrate the model and the sensitivity analysis is also studied.