Journals Information
Universal Journal of Accounting and Finance Vol. 3(5), pp. 171 - 174
DOI: 10.13189/ujaf.2015.030502
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Replenishment Policy for Items Having a Fixed Shelf Life under Permissible Delay and Variable Lead Time
Sarbjit Singh *
Faculty of Operations Management & Quantitative Techniques, Institute of Management Technology, India
ABSTRACT
All organizations whether manufacturing or service have to keep inventory for smooth running of their business processes. This study is devoted to the items like medicines, cosmetics which are having a fixed shelf life, i.e. they will be of no use after some prescribed time. This model also considers the permissible delay which means that the buyer can pay for goods after some fixed time and has to pay interest after that fixed time. The demand considered here is fixed constant demand. The lead time varies as per the availability of the product and follows normal distribution.
KEYWORDS
Inventory Model, Fixed Shelf Life, Cycle Period, Variable Lead Time
Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Sarbjit Singh , "Replenishment Policy for Items Having a Fixed Shelf Life under Permissible Delay and Variable Lead Time," Universal Journal of Accounting and Finance, Vol. 3, No. 5, pp. 171 - 174, 2015. DOI: 10.13189/ujaf.2015.030502.
(b). APA Format:
Sarbjit Singh (2015). Replenishment Policy for Items Having a Fixed Shelf Life under Permissible Delay and Variable Lead Time. Universal Journal of Accounting and Finance, 3(5), 171 - 174. DOI: 10.13189/ujaf.2015.030502.