Journal ArticleDOI
Joint pricing and ordering policy for a deteriorating inventory with partial backlogging
TLDR
In this paper, a deterministic inventory model for deteriorating items with time-dependent backlogging rate is developed and the demand and deterioration rate are known, continuous, and differentiable function of price and time, respectively.Abstract:
In this paper, a deterministic inventory model for deteriorating items with time-dependent backlogging rate is developed. The demand and deterioration rate are known, continuous, and differentiable function of price and time, respectively. Under these general assumptions, we first prove that the optimal replenishment schedule not only exists but is unique, for any given selling price. Next, we show that the total profit is a concave function of price when the replenishment schedule is given. We then provide a simple algorithm to find the optimal selling price and replenishment schedule for the proposed model. Finally, we use a numerical example to illustrate the algorithm.read more
Citations
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Journal ArticleDOI
Review of inventory systems with deterioration since 2001
TL;DR: In this paper, the authors present an up-to-date review of the advances made in the field of inventory control of perishable items (deteriorating inventory) and use the classification of Goyal and Giri based on shelf life characteristics and demand characteristics.
Journal ArticleDOI
Joint pricing and inventory control for non-instantaneous deteriorating items with partial backlogging and time and price dependent demand
TL;DR: In this paper, a joint pricing and inventory control for non-instantaneous deteriorating items is developed, where the major objective is to determine the optimal selling price, the optimal replenishment schedule and the optimal order quantity simultaneously such that, the total profit is maximized.
Journal ArticleDOI
The effect of preservation technology investment on a non-instantaneous deteriorating inventory model
TL;DR: In this paper, the effect of preservation technology investment on inventory decisions is studied in an inventory system with a non-instantaneous deteriorating item, and the basic results of fractional programming are employed to prove the uniqueness of the global maximum for each case.
Journal ArticleDOI
Coordinating a supply chain for deteriorating items with a revenue sharing and cooperative investment contract
TL;DR: In this article, a one-manufacturer-one-retailer supply chain model for deteriorating items with controllable deterioration rate and price-dependent demand is developed, in which both players cooperatively invest in preservation technology to reduce deterioration.
Journal ArticleDOI
Optimizing inventory and marketing policy for non-instantaneous deteriorating items with generalized type deterioration and holding cost rates
TL;DR: In this article, an inventory system with non-instantaneous deteriorating items is considered, where demand rate is a function of advertisement of an item and selling price, and an algorithm is designed to find the optimum solutions of the proposed model.
References
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Journal ArticleDOI
Optimal pricing and lot-sizing under conditions of perishability and partial backordering
TL;DR: In this article, a generalized model of dynamic pricing and lot-sizing by a reseller who sells a perishable good is formulated, where when it is economic to backlog demand, the reseller can plan for periods of shortage during which demand can be partially backordered.
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Optimal price and order size for a reseller under partial backordering
TL;DR: The pricing and/or lot sizing problem faced by a reseller is modeled assuming a general deterioration rate and a general demand function and the model allows for backlogging of demand.
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Deteriorating inventory model with quantity discount, pricing and partial backordering
TL;DR: In this article, the authors developed a deterministic inventory model with quantity discount, pricing and partial backordering when the product in stock deteriorates with time and the demand rate is assumed to decrease as price for the product increases.
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An inventory model with deteriorating items, quantity discount, pricing and time-dependent partial backlogging
TL;DR: In this paper, the authors generalize the work of Wee and consider a model where the demand rate is a convex decreasing function of the selling price and the backlogging rate was a time-dependent function, which ensures that the rate of backlogged demand increases as the waiting time to the following replenishment point decreases.