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Open accessJournal ArticleDOI: 10.1088/1757-899X/263/4/042133

EOQ model for perishable products with price-dependent demand, pre and post discounted selling price

01 Nov 2017-Vol. 263, Iss: 4, pp 042133
Abstract: In this article we introduce an economic order quantity model for perishable products like vegetables, fruits, milk, flowers, meat, etc.,with price-dependent demand, pre and post discounted selling price. Here we consider the demand is depending on selling price and deterioration rate is constant. Here we developed mathematical model to determine optimal discounton the unit selling price to maximize total profit. Numerical examples are given for illustrated.

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Topics: Economic order quantity (56%)
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Journal ArticleDOI: 10.1007/S00779-019-01256-7
Abstract: The cultural museum is one of the places with a large flow of people. Once an emergency occurs, if the people are not evacuated in time, the consequences will be unimaginable. In the event of an emergency, the population speed and evacuation effect are linear in the case of a small population density. However, when the population density is large, the population speed and evacuation effect are nonlinear. The traditional method is aimed at evacuation control with a small density and a smooth change in a large flow of people. When the density is large, the evacuation speed cannot be too fast, and once the pedalling event occurs, the stability of the model is destroyed. In order to solve the above problems, this paper takes a large-scale crowd of cultural museum as the studied object and proposes a large-scale crowd evacuation method based on the mutation theory of RFID (radio frequency identification). The algorithm uses the mutation prediction RFID to judge the arrival rate change trend by the arrival rate reverse mutation rule, so that the modelling length can dynamically adapt to the RFID tag arrival rate change and overcome the contradiction between the prediction accuracy and the tracking speed. The accuracy of the algorithm to predict the flow of large-scale people is improved, making the evacuation model more relevant to the actual situation. Through the experiment tests on typical scenes, the evacuation control problems of four groups of people are analysed and discussed. The results prove that the evacuation method proposed in this paper can provide guidance for crowd evacuation in the cultural museum.

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Topics: Population (54%)

4 Citations

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Journal ArticleDOI: 10.1016/S0377-2217(00)00248-4
Suresh Kumar Goyal1, Bibhas C. Giri2Institutions (2)
Abstract: This paper presents a review of the advances of deteriorating inventory literature since the early 1990s. The models available in the relevant literature have been suitably classified by the shelf-life characteristic of the inventoried goods. They have further been sub-classified on the basis of demand variations and various other conditions or constraints. The motivations, extensions and generalizations of various models in each sub-class have been discussed in brief to bring out pertinent information regarding model developments in the last decade.

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1,169 Citations


Journal ArticleDOI: 10.1287/OPRE.30.4.680
Steven Nahmias1Institutions (1)
Abstract: This paper reviews the relevant literature on the problem of determining suitable ordering policies for both fixed life perishable inventory, and inventory subject to continuous exponential decay. We consider both deterministic and stochastic demand for single and multiple products. Both optimal and sub-optimal order policies are discussed. In addition, a brief review of the application of these models to blood bank management is included. The review concludes with a discussion of some of the interesting open research questions in the area.

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Topics: Inventory theory (62%), Perpetual inventory (60%)

1,044 Citations


Journal ArticleDOI: 10.1057/JORS.1991.4
Fred Raafat1Institutions (1)
Abstract: This paper presents a complete and up-to-date survey of published inventory literature for the deteriorating (decaying) inventory models. More specifically, those papers are addressed that consider the effect of deterioration as a function of the on-hand level of inventory. The basic features, extensions and generalization of various models are discussed. A classification scheme is presented along with suggestions for future research.

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Topics: Inventory control (60%)

768 Citations


Journal ArticleDOI: 10.1016/S0925-5273(02)00332-8
S. Papachristos1, Konstantina Skouri1Institutions (1)
Abstract: Wee (International Journal of Production Economics 59 (1999) 511), in his interesting paper presented a deterministic inventory model with the following characteristics. Quantity discount schemes for the unit cost, partial backlogging at a fixed rate, deterioration of stock in time and demand rate being a linear function of the selling price. In this article we generalize the work of Wee (1999). More specifically, we consider a model where the demand rate is a convex decreasing function of the selling price and the backlogging rate is a time-dependent function, which ensures that the rate of backlogged demand increases as the waiting time to the following replenishment point decreases.

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160 Citations


Journal ArticleDOI: 10.1016/S0925-5273(99)00027-4
Moutaz Khouja1Institutions (1)
Abstract: The single-period problem (SPP), also known as the newsboy or newsvendor problem, is to find the order quantity which maximizes the expected profit in a single-period probabilistic demand framework. Previous extensions to the SPP include, in separate models, the simultaneous determination of the optimal price and quantity when demand is price-dependent, and the determination of the optimal order quantity when progressive discounts with preset prices are used to sell excess inventory. In this paper, we extend the SPP to the case in which demand is price-dependent and multiple discounts with prices under the control of the newsvendor are used to sell excess inventory. First, we develop two algorithms for determining the optimal number of discounts under fixed discounting cost for a given order quantity and realization of demand. Then, we identify the optimal order quantity before any demand is realized. We also analyze the joint determination of the order quantity and initial price. We illustrate the models and provide some insights using numerical examples.

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Topics: Newsvendor model (63%), Economic order quantity (63%), Discounting (52%)

112 Citations