Optimal production time and preservation technology investment for seasonal deteriorating products with a generalised ramp-type demand
type: Item
instance of: scholarly article
title: Optimal production time and preservation technology investment for seasonal deteriorating products with a generalised ramp-type demand
zbMATH Open document ID: 1482.90020
DOI: 10.1504/IJMOR.2021.117637
author: Haimanti Pal
author: S. Bardhan
author: Bibhas Chandra Giri
published in: International Journal of Mathematics in Operational Research
publication date: 2022-02-02T00:00:00Z
review text: Summary: A production-inventory model with price- and ramp-type time-dependent demand is developed in this paper. In view of the observation that the demand for a seasonal product initially increases with time and then becomes almost steady, and finally declines as time moves towards the end of the season, an EPQ model is considered with a generalised (two-parameter) ramp-type demand linearly dependent on sales price. The inventoried items are subject to continuous deterioration since production, and the rate of deterioration may be reduced by investing in preservation technology. The proposed model is developed under three different scenarios depending on the production time length. The optimal decisions, i.e., the optimal cycle length and preservation technology investment are obtained in each case. Certain conditions are derived to identify situations where the retailer should or should not invest in preservation technology. The proposed model is further illustrated numerically, and sensitivity analysis is carried out to investigate the impacts of key model-parameters on optimal decisions.
Mathematics Subject Classification ID: 90B05
Mathematics Subject Classification ID: 90B30
zbMATH DE Number: 7468400
zbMATH Keywords: economic production quantity
zbMATH Keywords: EPQ
zbMATH Keywords: generalised ramp-type demand
zbMATH Keywords: price-dependent demand
zbMATH Keywords: deterioration
zbMATH Keywords: preservation
MaRDI profile type: Publication
full work available at URL: ijmor.2021.117637
OpenAlex ID: W4231002729
description: scientific article; zbMATH DE number 7468400