Abstract

The behavior, capital, priority, and payment policies for  supply chain players have been affected by the COVID-19 pandemic disaster. This research paper develops a mathematical model in which advanced and delayed payment policies are planned with price- and time-sensitively dependent demand under inflation for the post-COVID-19 recovery. This model also takes into account time-dependent deterioration, shortages, instantaneously deteriorating items, and partial backlogging. With the use of this model, retailers can reduce overall costs in various payment scenarios by determining the best replenishment cycle and order quantity. To keep orders moving from customers to retailers and retailers to suppliers throughout the financial crisis, we designed a partially advanced and delayed payment policy. We look at how advanced and late payments affect a retailer's overall costs. The application of this model is demonstrated by numerical examples, which are solved by MATHEMATICA 12.0. An investigation into the sensitivity of crucial parameters has been carried out to identify additional sensitive parameters that offer a precise depiction of the current issues.

Author

Mandeep Singh, Ravish Kumar Yadav, S.R. Singh, Dipti Singh   ( Pages 19-43 )
Email:drravishyadav@gmail.com
Affiliation: Department of Mathematics, Hindu College Moradabad ,Uttar Pradesh ,India       DOI:

Keyword

Covid-19, Inventory, Advance and delay-in-payment, Deteriorating items, Inflation.

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