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Retailer's Optimal Pricing and Ordering Policies for Non-Instantaneous Deteriorating Items with Price-Dependent Demand and Partial Backlogging

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  • Chih-Te Yang
  • Liang-Yuh Ouyang
  • Hsing-Han Wu

Abstract

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.

Suggested Citation

  • Chih-Te Yang & Liang-Yuh Ouyang & Hsing-Han Wu, 2009. "Retailer's Optimal Pricing and Ordering Policies for Non-Instantaneous Deteriorating Items with Price-Dependent Demand and Partial Backlogging," Mathematical Problems in Engineering, Hindawi, vol. 2009, pages 1-18, November.
    • Handle: RePEc:hin:jnlmpe:198305
    DOI: 10.1155/2009/198305
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    Cited by:

    1. Ba, Luyao & Xie, Yangyang & Ma, Lijun, 2023. "Finite-horizon joint inventory-pricing optimization with non-concave demand and lost sales," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 172(C).

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