In this paper, we extend the inventory lot-size model introduced in Ghosh and Chaudhuri (2006) to allow for partial backlogging. In addition, we also relax their assumptions of equal replenishment cycles and constant shortage lengths. For any given number of replenishment cycles, we show that...

Since the publication of the Goyal model in 1985, research on the modeling of inventory lot-size under trade credits has resulted in a body of literature. In this paper, we present a review of the advances in inventory literature under conditions of permissible delay in payments since 1985. We...