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A replenishment policy for items with price-dependent demand, time-proportional deterioration and no shortages

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  • R. Begum
  • R.R. Sahoo
  • S.K. Sahu

Abstract

In this article, an order-level inventory system for deteriorating items has been developed with demand rate as a function of selling price. The demand and the deterioration rate are price dependent and time proportional, respectively. We have considered a perishable item that follows a three-parameter Weibull distribution deterioration. Shortages are not permitted in our model. The optimal solution is illustrated with a numerical example and the sensitivity analysis of parameters is carried out.

Suggested Citation

  • R. Begum & R.R. Sahoo & S.K. Sahu, 2012. "A replenishment policy for items with price-dependent demand, time-proportional deterioration and no shortages," International Journal of Systems Science, Taylor & Francis Journals, vol. 43(5), pages 903-910.
    • Handle: RePEc:taf:tsysxx:v:43:y:2012:i:5:p:903-910
    DOI: 10.1080/00207721.2010.543481
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    Cited by:

    1. Janssen, Larissa & Claus, Thorsten & Sauer, Jürgen, 2016. "Literature review of deteriorating inventory models by key topics from 2012 to 2015," International Journal of Production Economics, Elsevier, vol. 182(C), pages 86-112.
    2. Chang, Chun-Tao & Ouyang, Liang-Yuh & Teng, Jinn-Tsair & Lai, Kuei-Kuei & Cárdenas-Barrón, Leopoldo Eduardo, 2019. "Manufacturer's pricing and lot-sizing decisions for perishable goods under various payment terms by a discounted cash flow analysis," International Journal of Production Economics, Elsevier, vol. 218(C), pages 83-95.
    3. Pal, Shilpi & Mahapatra, G.S. & Samanta, G.P., 2015. "A production inventory model for deteriorating item with ramp type demand allowing inflation and shortages under fuzziness," Economic Modelling, Elsevier, vol. 46(C), pages 334-345.
    4. Praveendra Singh & Madhu Jain, 2024. "Inventory policy for degrading items under advanced payment with price and memory sensitive demand using metaheuristic techniques," Operational Research, Springer, vol. 24(3), pages 1-34, September.
    5. M. Palanivel & R. Uthayakumar, 2015. "Finite horizon EOQ model for non-instantaneous deteriorating items with price and advertisement dependent demand and partial backlogging under inflation," International Journal of Systems Science, Taylor & Francis Journals, vol. 46(10), pages 1762-1773, July.
    6. Mei-Chuan Cheng & Tsu-Pang Hsieh & Hsiu-Mei Lee & Liang-Yuh Ouyang, 2020. "Optimal ordering policies for deteriorating items with a return period and price-dependent demand under two-phase advance sales," Operational Research, Springer, vol. 20(2), pages 585-604, June.

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