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General Information
    • ISSN: 2010-3697
    • Frequency: Bimonthly
    • DOI: 10.7763/IJMO
    • Editor-in-Chief: Prof. Adrian Olaru
    • Executive Editor: Ms.Yoyo Y. Zhou
    • Abstracting/ Indexing: Engineering & Technology Digital Library, ProQuest, Crossref, Electronic Journals Library, Google Scholar, EI (INSPEC, IET).
    • E-mail ijmo@iacsitp.com
Editor-in-chief
Prof. Adrian Olaru
University Politehnica of Bucharest, Romania
I'm happy to take on the position of editor in chief of IJMO. It's a journal that shows promise of becoming a recognized journal in the area of modelling and optimization. I'll work together with the editors to help it progress.
IJMO 2014 Vol.4(1): 1-4 ISSN: 2010-3697
DOI: 10.7763/IJMO.2014.V4.337

Credit Financing in Economic Ordering Policies for Defective Items with Order Overlapping

Chandra K. Jaggi, Mandeep Mittal, Jyoti Gulia, Pankaj Singh, and Ruchi Sharma
Abstract—In the classical inventory models, most of the time the issue of quality of the items has not been given due attention. However, in realistic environment, it can be observed that there may be some defective items in an ordered lot, because of these defective items retailer may incurs additional cost due to rejection, repair and refund etc. Thus, inspection/screening of lot becomes essential in most of the organizations. Shortages may occur due to defective items, which can be prevented by placing an order at the time when the inventory level is good enough to meet the demand during the screening process. Further, it is generally assumed that payment will be made to the supplier for the goods immediately after receiving the consignment. Whereas, in practice, supplier does offers a certain fixed period to the retailer for settling the account. During this period, supplier charges no interest, but beyond this period interest is being charged as has been agreed upon. On the other hand, retailer can earn interest on the revenue generated during this period. Keeping this scenario in mind, an attempt has been made to formulate an inventory model for imperfect quality items under the condition of permissible delay in payments. Results have been validated with the help of a numerical example. Comprehensive sensitivity analysis has also been presented.

Index Terms—Inventory, imperfect items, permissible delay, overlapping.

Chandra K. Jaggi is with the Department of Operational Research, University of Delhi, India (e-mail: ckjaggi@yahoo.com).
Mandeep Mittal, Jyoti Gulia, Pankaj Singh, and Ruchi Sharma are with the Department of Computer Science Engineering, Amity School of Engineering and Technology, Bijwasan, New Delhi, India (e-mail: mittal_mandeep@yahoo.com).

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Cite:Chandra K. Jaggi, Mandeep Mittal, Jyoti Gulia, Pankaj Singh, and Ruchi Sharma, "Credit Financing in Economic Ordering Policies for Defective Items with Order Overlapping," International Journal of Modeling and Optimization vol. 4, no. 1, pp. 1-4, 2014.

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