Economic ordering policy for non‐instantaneous deteriorating items with price and advertisement dependent demand and permissible delay in payment under inflation

2020 ◽  
Author(s):  
R. Udayakumar ◽  
K.V. Geetha ◽  
Shib Sankar Sana
Keyword(s):  
Deteriorating Items ◽  
Ordering Policy ◽  
Permissible Delay In Payment ◽  
Dependent Demand

A Fuzzy Inventory Model for Weibull Deteriorating Items with Price-Dependent Demand and Shortages under Permissible Delay in Payment

2012 ◽  
Vol 1 (2) ◽  
pp. 53-79
Author(s):  
Chandra K. Jaggi ◽  
Sarla Pareek ◽  
Anuj Sharma ◽  
Nidhi
Keyword(s):  
Cycle Length ◽  
Optimal Solution ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Selling Price ◽  
Profit Function ◽  
Permissible Delay In Payment ◽  
Fuzzy Inventory ◽  
Dependent Demand ◽  
Fuzzy Inventory Model

In this paper, a fuzzy inventory model is formulated for deteriorating items with price dependent demand under the consideration of permissible delay in payment. A two parameter Weibull distribution is taken to represent the time to deterioration. Shortages are allowed and completely backlogged. For Fuzzification of the model, the demand rate, holding cost, unit purchase cost, deterioration rate, ordering cost, shortage cost, interest earn and interest paid are assumed to be triangular fuzzy numbers. As a result, the profit function will be derived in fuzzy sense in order to obtain the optimal stock-in period, cycle length and the selling price. The graded mean integration method is used to defuzzify the profit function. Then, to test the validity of the model a numerical example is considered and solved. Finally, to study the effect of changes of different parameters on the optimal solution i.e. average profit, order quantity, stock-in period, cycle length and selling price, sensitivity analysis are performed.

scholarly journals Optimal Pricing and Ordering Policy for Deteriorating Items with Stock-and-Price Dependent Demand and Presale Rebate

2016 ◽  
Vol 2016 ◽  
pp. 1-7
Author(s):  
Lianxia Zhao ◽  
Jianxin You
Keyword(s):  
Sensitivity Analysis ◽  
Deteriorating Items ◽  
Time Dependent ◽  
Optimal Pricing ◽  
Selling Price ◽  
Effective Algorithm ◽  
Numerical Examples ◽  
Ordering Policy ◽  
Demand Rate ◽  
Dependent Demand

This paper considers an EOQ inventory model with presale policy for deteriorating items, in which the demand rate depends on both on-hand inventory and selling price. Under the assumption that all the presale orders are fully backlogged with waiting-time dependent rebate, this study develops several propositions and derives optimal pricing and ordering policy by designing an effective algorithm. Two numerical examples are also given to illustrate the effectiveness of the algorithm. Finally, the sensitivity analysis of the main parameters is provided.

Sign in / Sign up

Export Citation Format

Share Document