A production inventory model with partial trade credit policy and reliability

Reliability is one of the important factors in production inventory system as well as in the demand of the products. During a production process, the products which are more perfect with higher reliability increase the demand of the product whereas credit facility is also one of the popular business strategies. Combining these two concepts in together, we have described and analyzed mathematically a production inventory model with a partial credit facility and the reliability effect on the production system in which the customers’ demand is dependent on the price of the products and deterioration rate is considered to be constant. In this proposed model, trade credit policy on both the manufacturer and customers is introduced by taking into account all…