Leena Sharma¹, Atamaram Nigwal¹ and Praveen Kumar Sharma²*

¹Department of Mathematics, Ujjain Engineering College, Ujjain, RGPV Bhopal, India
²Associate Professor of Mathematics, SVIS, Shri Vaishnav Vidyapeeth Vishwavidyalaya Indore, MP, India

*Corresponding Author: Praveen Kumar Sharma, Associate Professor of Mathematics, SVIS, Shri Vaishnav Vidyapeeth Vishwavidyalaya Indore, MP, India.

Received: June 03, 2024; Published: June 17, 2024

Abstract

This study suggested an integrated price and credit period based production model for imperfect quality items which consists of a single supplier and a single vendor. A delay in payment is offered by supplier to the retailer and the procurement cost is subjected to the credit period. A screening procedure is employed on each lot of an imperfect quality items to separate the good and defective items by the vendor. Furthermore supplier s supplier process cost has been assumed to subjected to linearly correlated to the size of batch of items purchased by vendor. The main objective of this study is to get the position of credit period and the number of batches for vendor in the single planning time so that the integrated system receives an optimum cost. This mathematical model has been verified with the help of numerical examples and We have also checked it's stability fragility and feasibility with respect to key parameters through numerically and graphically.

Keywords: Procurement cost, Imperfect quality items, Credit periods, Screening process, Learning Effects

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Citation

Citation: Praveen Kumar Sharma., et al. “An Integrated Pricing Strategy for an Imperfect Quality Items with Credit Period Based Procurement Cost and Learning Effect on a Screening Process".Acta Scientific Computer Sciences 6.7 (2024): 43-53.

Copyright

Copyright: © 2024 Praveen Kumar Sharma., et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.