The concept of advanced sustainable inventory management, where demand pattern stock level and advertising dependent under trade-credit policy is taking account in this present study. Optimal credit period and cycle time are the main objective of this advanced system. A developed solution methodology is derived to show the existence of global optimality under optimum credit period and cycle time. The main concern of this advanced system is to maximize the annual total system profit of retailer with finite replenishment rate. Numerical illustration are carry forward for different cases to prove the stainability along with real impact of this model. Sensitive analysis for the key parameters is discussed in sensitivity analysis section along with some real managerial insights.
Bibliographical noteFunding Information:
Acknowledgements. This work is supported by the National Research Foundation of Korea (NRF) grant funded by the Korea government (MSIT) (NRF - 2020R1F1A1064460).
© EDP Sciences, ROADEF, SMAI 2021.
All Science Journal Classification (ASJC) codes
- Theoretical Computer Science
- Computer Science Applications
- Management Science and Operations Research