Retailer's optimal pricing and ordering policies for non-instantaneous deteriorating items with price-dependent demand and partial backlogging
type: Item
instance of: scholarly article
title: Retailer's optimal pricing and ordering policies for non-instantaneous deteriorating items with price-dependent demand and partial backlogging
zbMATH Open document ID: 1177.90030
DOI: 10.1155/2009/198305
author: Chih-Te Yang
author: Liang-Yuh Ouyang
author: Hsing-Han Wu
published in: Mathematical Problems in Engineering
publication date: 2009-11-13T00:00:00Z
full work available at URL: https://eudml.org/doc/45803
review text: Summary: An inventory system for non-instantaneous deteriorating items with price-dependent demand is formulated and solved. A model is developed in which shortages are allowed and partially backlogged, where the backlogging rate is variable and dependent on the waiting time for the next replenishment. The major objective is to determine the optimal selling price, the length of time in which there is no inventory shortage, and the replenishment cycle time simultaneously such that the total profit per unit time has a maximum value. An algorithm is developed to find the optimal solution, and numerical examples are provided to illustrate the theoretical results. A sensitivity analysis of the optimal solution with respect to major parameters is also carried out.
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 5632445
MaRDI profile type: Publication
OpenAlex ID: W2027749438
Wikidata QID: Q58648906
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description: scientific article; zbMATH DE number 5632445