IDEAS home Printed from https://ideas.repec.org/a/wsi/apjorx/v30y2013i04ns0217595913500012.html
   My bibliography  Save this article

Optimal Pricing And Replenishment Policy For Noninstantaneous Deteriorating Items And Two Levels Of Storage

Author

Listed:
  • IRIS-PANDORA KROMMYDA

    (Department of Business Administration of Food and Agricultural Enterprises, University of Western Greece, G. Seferi 2, 30100 Agrinio, Greece)

  • KONSTANTINA SKOURI

    (Department of Mathematics, University of Ioannina, 45110, Ioannina, Greece)

  • IOANNIS KONSTANTARAS

    (Department of Business Administration, Business Excellence Laboratory, University of Macedonia, 156 Egnatia Street, 54006 Thessaloniki, Greece)

  • IOANNIS GANAS

    (Department of Accounting, Technological Educational Institute of Epirus, Psathaki, P.O. Box 169, 481 00, Preveza, Greece)

Abstract

In this paper an inventory control system for deteriorating items with price and time-dependent demand is studied. The majority of the existing literature in inventory systems for deteriorating items, deals with items that are subject to deterioration as soon as they enter the warehouse. However, there are items that have a shelf-life and start deteriorating after a time lag (noninstantaneous deteriorating items). Under some special circumstances, i.e., attractive price discount, low storage cost, high demand, etc; the procurement of a large amount of such items at a time is decided. Because of the fixed capacity of the own warehouse (OW), a rented warehouse (RW) is used to store the excess quantity. In the present paper, a two-warehouse inventory model for noninstantaneous deteriorating items is developed. Shortages at OW are also allowed and partially backlogged at a rate, which is any nonincreasing function of the waiting time up to the next replenishment. For this model, we propose a simple solution procedure to determine the optimal pricing and replenishment schedule.

Suggested Citation

  • Iris-Pandora Krommyda & Konstantina Skouri & Ioannis Konstantaras & Ioannis Ganas, 2013. "Optimal Pricing And Replenishment Policy For Noninstantaneous Deteriorating Items And Two Levels Of Storage," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 30(04), pages 1-28.
    • Handle: RePEc:wsi:apjorx:v:30:y:2013:i:04:n:s0217595913500012
    DOI: 10.1142/S0217595913500012
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0217595913500012
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0217595913500012?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
    ---><---

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

    References listed on IDEAS

    as
    1. ., 2006. "Trunk Innovations and Institutional Change," Chapters, in: Innovation Dynamism and Economic Growth, chapter 5, Edward Elgar Publishing.
    2. ., 2006. "The Changing Role of SOEs," Chapters, in: Reforming China’s State-owned Enterprises and Banks, chapter 3, Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tiwari, Sunil & Jaggi, Chandra K. & Gupta, Mamta & Cárdenas-Barrón, Leopoldo Eduardo, 2018. "Optimal pricing and lot-sizing policy for supply chain system with deteriorating items under limited storage capacity," International Journal of Production Economics, Elsevier, vol. 200(C), pages 278-290.

    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. Norin Arshed & Dominic Chalmers & Russell Matthews, 2019. "Institutionalizing Women’s Enterprise Policy: A Legitimacy-Based Perspective," Entrepreneurship Theory and Practice, , vol. 43(3), pages 553-581, May.
    2. Chadwick (Chengwei) Wang & Luhao Wang, 2017. "Unfolding policies for innovation intermediaries in China: A discourse network analysis," Science and Public Policy, Oxford University Press, vol. 44(3), pages 354-368.
    3. Umut Yilmaz Cetinkaya & Erkan Erdil, 2015. "Cohesion and Competition of Europe: Policy Suggestions from The Perspective of Network and Entropy," STPS Working Papers 1505, STPS - Science and Technology Policy Studies Center, Middle East Technical University, revised Dec 2015.
    4. FAN, Yi, 2016. "Intergenerational income persistence and transmission mechanism: Evidence from urban China," China Economic Review, Elsevier, vol. 41(C), pages 299-314.

    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:wsi:apjorx:v:30:y:2013:i:04:n:s0217595913500012. 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: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/apjor/apjor.shtml .

    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.