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Journal of Applied Sciences
  Year: 2004 | Volume: 4 | Issue: 3 | Page No.: 432-438
DOI: 10.3923/jas.2004.432.438
 
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An EOQ Model Under Trade Credit Linked to Order Quantity Using Algebraic Method
Yung-Fu Huang

Abstract:
In 1985, Goyal investigated the inventory problem under permissible delay in payments independent of the order quantity. In the present study, the restrictive assumption of the trade credit independent of the order quantity is relaxed. The present study investigates the retailer`s inventory problem under permissible delay in payments dependent of the order quantity within the economic order quantity (EOQ) framework. In addition, we adopt the algebraic method to determine the retailer`s optimal ordering policy under minimizing the annual total relevant cost was adopted. Then, two theorems are developed to efficiently determine the optimal cycle time and optimal order quantity for the retailer. Finally, numerical examples are given to illustrate these theorems obtained in the present study.
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How to cite this article:

Yung-Fu Huang , 2004. An EOQ Model Under Trade Credit Linked to Order Quantity Using Algebraic Method. Journal of Applied Sciences, 4: 432-438.

DOI: 10.3923/jas.2004.432.438

URL: https://scialert.net/abstract/?doi=jas.2004.432.438

 
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