IDEAS home Printed from https://ideas.repec.org/a/ids/ijmore/v22y2022i3p349-362.html
   My bibliography  Save this article

Inventory policies for monotonic change in the purchase price

Author

Listed:
  • Suresha Kharvi
  • T.P.M. Pakkala

Abstract

This article considers an optimal inventory policy for monotonic change in the purchase price where price change depends on the number of orders made. The planning horizon is considered as finite and yearly demand is assumed to be constant and known. A closed-form solution is obtained for the optimal order lengths. These closed-form solutions will be very useful to business managers. An algorithm is given to determine the optimal number of orders during the planning horizon. Some of the interesting properties of the optimal order quantities are discussed. A numerical example and sensitivity analysis are carried out to support the theoretical results.

Suggested Citation

  • Suresha Kharvi & T.P.M. Pakkala, 2022. "Inventory policies for monotonic change in the purchase price," International Journal of Mathematics in Operational Research, Inderscience Enterprises Ltd, vol. 22(3), pages 349-362.
    • Handle: RePEc:ids:ijmore:v:22:y:2022:i:3:p:349-362
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=124137
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijmore:v:22:y:2022:i:3:p:349-362. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=320 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.