AN INVENTORY MODEL FOR NON- INSTANTANEOUS DETERIORATING ITEMS UNDER WEIBULL DISTRIBUTION AND QUADRATIC DEMAND WITH TRADE CREDIT POLICY

Abstract This paper deals with the non-instantaneous deteriorating items following two parameter Weibull distribution rate and trade credit policy. The demand is considered as quadratic function of time. Shortages are allowed and partially backlogged. Sometimes demand spikes right after a product is introduced to the market. However, once an alternative is available on the market, demand begins to drop gradually. This form of demand is commonly referred to as quadratic demand. To increase profits, the supplier allows a reasonable delay in payment to the retailer. The trade credit policy refers to the allowable delay in payment. The mathematical model is divided into three categories. Case-I, , Case-II- and Case-III, . The model is demonstrated by numerical experiments, sensitivity analysis, and a graphical depiction.