For a finite planning horizon, there has been a considerable body of research papers in the area of operations management that dealt with four different inventory shortage models in the last two decades. In this paper, we establish the models to reflect the fact that the longer the waiting time,...

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...