A GSC INVENTORY MODEL FOR DETERIORATING ITEMS UNDER TRADE CREDIT POLICY WITH INFLATION
By
Ravish Kumar Yadav1 , Mandeep Singh2* , S.R. Singh3 and Dipti Singh4
1,2Department of Mathematics, Hindu College Moradabad, Uttar Pradesh, India - 244001
3,4Department of Mathematics, Chaudhary Charan Singh University Meerut, India- 250001
Email: drravishyadav@gmail.com, mandeepsinghbsr@gmail.com, shivrajpundir@gmail.com, singhdipti113@gmail.com
(Received: March 30, 2024; In format: April 05, 2024; Revised: December 22, 2024; Accepted: February 22, 2025)
DOI: https://doi.org/10.58250/jnanabha.2025.55103
Abstract
After a disaster, there is no sufficient capital near retailers initially. He cannot or less provide the disaster relief deteriorating inventory to a disaster-affected customer who is in the shelter. In this situation manufacturer provides a trade credit policy to the retailer and the retailer provides a trade credit policy to the customer. This research paper proposed a mathematical model in GSC under trade credit policy with credit period-dependent demand for disaster relief deteriorating items. Timedependent deterioration and inflation which affect inventory management decisions are considered. The objective is to optimize the total cost and eco friendly environment. A numerical illustration is carried out to demonstrate the effectiveness of the model by using Software MATHEMATICA 12.0. Sensitivity analysis is carried out to show the behavior of the different parameters on the optimal solution.
2020 Mathematical Sciences Classification: 90-10
Keywords and Phrases: GSC (Green Supply Chain), Trade credit, Inflation, Disaster, inventory