An EOQ model with partial delay in payment and varying demand rate

Assuming that the supplier uses three different types of strategies of partial delay in payment,an economic order quantity(EOQ) model based on partial delay in payment and varying demand rate is developed in this paper.By the calculation of the income and expense of interest and other key indices,the retailer's optimal ordering cycle which varies with the inventory level and time is determined under different strategies of partial delay in payment.Thereby the maximum average profit is obtained.Several numerical examples are given to validate the models developed in the paper,and the influence of different models and strategies of partial delay in payment on retailer's profits is analyzed.