A PROBABILISTIC INVENTORY MODEL FOR CONDITIONAL CREDIT PERIOD AND LEAD TIME WITH MULTIPLE STORAGE FACILITIES
Keywords:
Inventory Model, Conditional Credit Period, Storage Facilities. Total Expected Cost (TEC), Economic Order Quantity (EOQ).Abstract
A probabilistic inventory model for conditional credit period with exponential demand, non-zero lead time and multiple storage facility has been developed. The behaviour of total expected cost (TEC) has been examined and the use and application of the model is demonstrated with the help of a numerical example.
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