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Article

An Inventory Model with Price-, Time- and Greenness-Sensitive Demand and Trade Credit-Based Economic Communications

by
Musaraf Hossain
1,
Mostafijur Rahaman
2,
Shariful Alam
1,
Magfura Pervin
3,*,
Soheil Salahshour
4,5,6 and
Sankar Prasad Mondal
7
1
Department of Mathematics, Indian Institute of Engineering Science and Technology, Shibpur, Howrah 711103, India
2
Department of Mathematics and Statistics, School of Applied Sciences and Humanities, Vignan’s Foundation for Science, Technology and Research, Guntur 522213, India
3
Department of Mathematics, Bangabasi Evening College, 19, Rajkumar Chakraborty Sarani, Kolkata 700009, India
4
Faculty of Engineering and Natural Sciences, Istanbul Okan University, Istanbul 34959, Turkey
5
Faculty of Engineering and Natural Sciences, Bahcesehir University, Istanbul 34349, Turkey
6
Research Center of Applied Mathematics, Khazar University, Baku AZ1096, Azerbaijan
7
Department of Applied Mathematics, Maulana Abul Kalam Azad University of Technology, Haringhata 741249, India
*
Author to whom correspondence should be addressed.
Logistics 2025, 9(3), 133; https://doi.org/10.3390/logistics9030133
Submission received: 14 July 2025 / Revised: 1 September 2025 / Accepted: 12 September 2025 / Published: 22 September 2025
(This article belongs to the Section Sustainable Supply Chains and Logistics)
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Abstract

Background: Price is the most authoritative constituent among the factors shaping consumer demand. Growing consciousness among global communities regarding environmental issues makes greenness one of the key factors controlling demand, along with time, which drives demand in markets. This paper addresses such issues associated with a retail purchase scenario. Methods: Consumer’s demand for products is hypothesized to be influenced by pricing, time and the green level of the product in the proposed model. Time-dependent inventory carrying cost and green level-induced purchasing cost are considered. The average cost during the decision cycle is the objective function that is analyzed in trade credit phenomena, involving delayed payment by the manufacturer to the supplier. The Convex optimization technique is used to find an optimal solution for the model. Results: Once a local optimal solution is found, sensitivity analysis is conducted to determine the optimal value of the objective function and decision variables for other impacting parameters. Results reveal that demand-boosting parameters, for instance, discounts on price and green activity, result in additional average costs. Conclusions: Discounts on price and green activity advocate a large supply capacity by boosting demand, creating opportunities for the retailer to earn more revenue.
Keywords: selling price; time- and greenness-dependent demand; time-dependent holding cost; deterioration; trade credit and back-ordering; total average cost optimization selling price; time- and greenness-dependent demand; time-dependent holding cost; deterioration; trade credit and back-ordering; total average cost optimization

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MDPI and ACS Style

Hossain, M.; Rahaman, M.; Alam, S.; Pervin, M.; Salahshour, S.; Mondal, S.P. An Inventory Model with Price-, Time- and Greenness-Sensitive Demand and Trade Credit-Based Economic Communications. Logistics 2025, 9, 133. https://doi.org/10.3390/logistics9030133

AMA Style

Hossain M, Rahaman M, Alam S, Pervin M, Salahshour S, Mondal SP. An Inventory Model with Price-, Time- and Greenness-Sensitive Demand and Trade Credit-Based Economic Communications. Logistics. 2025; 9(3):133. https://doi.org/10.3390/logistics9030133

Chicago/Turabian Style

Hossain, Musaraf, Mostafijur Rahaman, Shariful Alam, Magfura Pervin, Soheil Salahshour, and Sankar Prasad Mondal. 2025. "An Inventory Model with Price-, Time- and Greenness-Sensitive Demand and Trade Credit-Based Economic Communications" Logistics 9, no. 3: 133. https://doi.org/10.3390/logistics9030133

APA Style

Hossain, M., Rahaman, M., Alam, S., Pervin, M., Salahshour, S., & Mondal, S. P. (2025). An Inventory Model with Price-, Time- and Greenness-Sensitive Demand and Trade Credit-Based Economic Communications. Logistics, 9(3), 133. https://doi.org/10.3390/logistics9030133

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