IDEAS home Printed from https://ideas.repec.org/a/vrs/foeste/v16y2016i1p208-221n13.html
   My bibliography  Save this article

The Model of Demand and Inventory in a Decline Phase of the Product Life Cycle

Author

Listed:
  • Hachuła Piotr

    (Institute of Logistics and Warehousing, Logistics Expertise Department, Estkowskiego 6, 61-755 Poznań, Poland)

  • Schmeidel Ewa

    (University of Białystok, Institute of Mathematics, Ciołkowskiego 1M, 15-245 Białystok, Poland)

Abstract

In the paper, the mathematical model of demand and inventory is studied from the perspective of its applications in real business cases. The model is formulated with three difference equations of first order. Three scenarios focused on the last phase of the product life cycle, a decline, are investigated and commented upon.

Suggested Citation

  • Hachuła Piotr & Schmeidel Ewa, 2016. "The Model of Demand and Inventory in a Decline Phase of the Product Life Cycle," Folia Oeconomica Stetinensia, Sciendo, vol. 16(1), pages 208-221, December.
    • Handle: RePEc:vrs:foeste:v:16:y:2016:i:1:p:208-221:n:13
    DOI: 10.1515/foli-2016-0013
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/foli-2016-0013
    Download Restriction: no
    File URL: https://libkey.io/10.1515/foli-2016-0013?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Harvey M. Wagner & Thomson M. Whitin, 1958. "Dynamic Version of the Economic Lot Size Model," Management Science, INFORMS, vol. 5(1), pages 89-96, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Battini, Daria & Persona, Alessandro & Sgarbossa, Fabio, 2014. "A sustainable EOQ model: Theoretical formulation and applications," International Journal of Production Economics, Elsevier, vol. 149(C), pages 145-153.
    2. Wolosewicz, Cathy & Dauzère-Pérès, Stéphane & Aggoune, Riad, 2015. "A Lagrangian heuristic for an integrated lot-sizing and fixed scheduling problem," European Journal of Operational Research, Elsevier, vol. 244(1), pages 3-12.
    3. Charles, Mehdi & Dauzère-Pérès, Stéphane & Kedad-Sidhoum, Safia & Mazhoud, Issam, 2022. "Motivations and analysis of the capacitated lot-sizing problem with setup times and minimum and maximum ending inventories," European Journal of Operational Research, Elsevier, vol. 302(1), pages 203-220.
    4. Liu, Tieming, 2008. "Economic lot sizing problem with inventory bounds," European Journal of Operational Research, Elsevier, vol. 185(1), pages 204-215, February.
    5. Kaijie Zhu & Ulrich W. Thonemann, 2009. "Coordination of pricing and inventory control across products," Naval Research Logistics (NRL), John Wiley & Sons, vol. 56(2), pages 175-190, March.
    6. Chakrabarti, T. & Chaudhuri, K. S., 1997. "An EOQ model for deteriorating items with a linear trend in demand and shortages in all cycles," International Journal of Production Economics, Elsevier, vol. 49(3), pages 205-213, May.
    7. Qiu, Ruozhen & Sun, Minghe & Lim, Yun Fong, 2017. "Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programing approaches," European Journal of Operational Research, Elsevier, vol. 261(3), pages 880-892.
    8. van den Heuvel, Wilco & Gutiérrez, José Miguel & Hwang, Hark-Chin, 2011. "Note on "An efficient approach for solving the lot-sizing problem with time-varying storage capacities"," European Journal of Operational Research, Elsevier, vol. 213(2), pages 455-457, September.
    9. Stan van Hoesel & H. Edwin Romeijn & Dolores Romero Morales & Albert P. M. Wagelmans, 2005. "Integrated Lot Sizing in Serial Supply Chains with Production Capacities," Management Science, INFORMS, vol. 51(11), pages 1706-1719, November.
    10. Sana, S. & Goyal, S. K. & Chaudhuri, K. S., 2004. "A production-inventory model for a deteriorating item with trended demand and shortages," European Journal of Operational Research, Elsevier, vol. 157(2), pages 357-371, September.
    11. Toy, Ayhan Özgür & Berk, Emre, 2013. "Dynamic lot sizing for a warm/cold process: Heuristics and insights," International Journal of Production Economics, Elsevier, vol. 145(1), pages 53-66.
    12. Tang, Lianhua & Li, Yantong & Bai, Danyu & Liu, Tao & Coelho, Leandro C., 2022. "Bi-objective optimization for a multi-period COVID-19 vaccination planning problem," Omega, Elsevier, vol. 110(C).
    13. Melega, Gislaine Mara & de Araujo, Silvio Alexandre & Jans, Raf, 2018. "Classification and literature review of integrated lot-sizing and cutting stock problems," European Journal of Operational Research, Elsevier, vol. 271(1), pages 1-19.
    14. Schwartz, Jay D. & Rivera, Daniel E., 2010. "A process control approach to tactical inventory management in production-inventory systems," International Journal of Production Economics, Elsevier, vol. 125(1), pages 111-124, May.
    15. Fleischmann, Moritz & Bloemhof-Ruwaard, Jacqueline M. & Dekker, Rommert & van der Laan, Erwin & van Nunen, Jo A. E. E. & Van Wassenhove, Luk N., 1997. "Quantitative models for reverse logistics: A review," European Journal of Operational Research, Elsevier, vol. 103(1), pages 1-17, November.
    16. Janssen, Larissa & Diabat, Ali & Sauer, Jürgen & Herrmann, Frank, 2018. "A stochastic micro-periodic age-based inventory replenishment policy for perishable goods," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 118(C), pages 445-465.
    17. Metzker Soares, Paula & Thevenin, Simon & Adulyasak, Yossiri & Dolgui, Alexandre, 2024. "Adaptive robust optimization for lot-sizing under yield uncertainty," European Journal of Operational Research, Elsevier, vol. 313(2), pages 513-526.
    18. Hark‐Chin Hwang & Wilco van den Heuvel, 2012. "Improved algorithms for a lot‐sizing problem with inventory bounds and backlogging," Naval Research Logistics (NRL), John Wiley & Sons, vol. 59(3‐4), pages 244-253, April.
    19. Ghadimi, Pezhman & Ghassemi Toosi, Farshad & Heavey, Cathal, 2018. "A multi-agent systems approach for sustainable supplier selection and order allocation in a partnership supply chain," European Journal of Operational Research, Elsevier, vol. 269(1), pages 286-301.
    20. Martel, Alain & Gascon, Andre, 1998. "Dynamic lot-sizing with price changes and price-dependent holding costs," European Journal of Operational Research, Elsevier, vol. 111(1), pages 114-128, November.

    More about this item

    Keywords

    demand; inventory; mathematical model; product life cycle; supply chain;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

    Statistics

    Access and download statistics

    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:vrs:foeste:v:16:y:2016:i:1:p:208-221:n:13. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    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.