An integrated production inventory model for perishable products with trade credit period and investment in preservation technology

Tayal, Shilpy; Singh, S.R.; Sharma, Rajendra K.

doi:10.1504/ijmor.2016.074852

Cited by 33 publications

(14 citation statements)

References 18 publications

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“…Zhang et al (2016) investigated a joint pricing, service, and preservation technology investment policy under common resource constraints. Other researchers such as Dhandapani and Uthayakumar (2016), Dye and Yang (2016), Tayal et al (2016), Tsao (2016), Shah et al (2017), Mishra et al (2017), Saha et al (2017) and Giri et al (2017) considered investment in preservation technology.…”

Section: Introductionmentioning

confidence: 99%

Joint pricing, inventory, and preservation decisions for deteriorating items with stochastic demand and promotional efforts

Soni¹,

Chauhan²

2018

J Ind Eng Int

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This study models a joint pricing, inventory, and preservation decision-making problem for deteriorating items subject to stochastic demand and promotional effort. The generalized price-dependent stochastic demand, time proportional deterioration, and partial backlogging rates are used to model the inventory system. The objective is to find the optimal pricing, replenishment, and preservation technology investment strategies while maximizing the total profit per unit time. Based on the partial backlogging and lost sale cases, we first deduce the criterion for optimal replenishment schedules for any given price and technology investment cost. Second, we show that, respectively, total profit per time unit is concave function of price and preservation technology cost. At the end, some numerical examples and the results of a sensitivity analysis are used to illustrate the features of the proposed model.

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Section: Introductionmentioning

confidence: 99%

Joint pricing, inventory, and preservation decisions for deteriorating items with stochastic demand and promotional efforts

Soni¹,

Chauhan²

2018

J Ind Eng Int

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“…Gallego and Hu [34] studied dynamic pricing of complementary and substitutable perishable assets in an oligopolistic market. An integrated production-distribution model was developed by Tayal et al [35] in a two-echelon supply chain for perishable goods. Taleizadeh et al [36] studied optimal quantity and multi-discount price for perishable items.…”

Section: Introductionmentioning

confidence: 99%

Pricing and Lot sizing of a Decaying item under Group Dispatching with Time-dependent Demand and Decay Rates

Taleizadeh

Rasuli-Baghban

2017

Scientia Iranica

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Determining appropriate inventory and pricing policies is an important issue in scientific and industrial researches. Here an inventory control model of a decaying item with zero lead time is studied. Two mathematical models under different assumptions are developed. In the first model deterioration rate is time-dependent and demand rate is price sensitive while in the second model deterioration rate is constant and demand rate is time-and price-dependent. Aim of this research is optimizing total cost by deriving decision variables such as dispatch cycle length, order quantity and wholesale price. To optimize the total cost a shipment group dispatching policy is used.

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“…Jaggi et al (2015) come forward with two-warehouse inventory model for deteriorating items with price sensitive demand and partially backlogged shortages under inflationary environment conditions. After that Tayal et al (2015) presented a production inventory framework for non-instantaneous deteriorating items with time dependent holding cost and exponential demand rate. Since there are so many products which maintain their quality for a fix period of time and after that it begins to deteriorate.…”

Section: Introductionmentioning

confidence: 99%

“…Singh and Sharma (2014) developed an optimal trade-credit policy for perishable items deeming imperfect production and stock dependent demand. Tayal et al (2015) also introduced an integrated production inventory model for perishable products with trade credit period and investment in preservation technology. Shastri et al (2014) presented a supply chain management for two level trade credit financing with selling price dependent demand under the effect of preservation technology.…”

Section: Introductionmentioning

confidence: 99%

An economic order quantity model for deteriorating products having stock dependent demand with trade credit period and preservation technology

Singh¹,

Khurana²,

Tayal³

2016

10.5267/j.uscm

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The objective of this study is to develop of an inventory policy for deteriorating items, in which demand for the products is stock dependent and the retailer invests in preservation technology to reduce the rate of product deterioration. In many real-life situations, for certain types of consumer goods, the consumption rate is sometimes influenced by the stock-level. It is usually observed that a large pile of goods on a shelf in a supermarket will lead the customer to buy more and then generate higher demand. The consumption rate may go up or down with the onhand stock level. This paper is developed with the realistic conditions of demand, allowable credit period, partial backlogging and variable ordering cost. A solution procedure is given to find the optimal preservation technology cost and total cost of the system. A numerical example and sensitivity analysis are presented to illustrate the model.

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An integrated production inventory model for perishable products with trade credit period and investment in preservation technology

Cited by 33 publications

References 18 publications

Joint pricing, inventory, and preservation decisions for deteriorating items with stochastic demand and promotional efforts

Joint pricing, inventory, and preservation decisions for deteriorating items with stochastic demand and promotional efforts

Pricing and Lot sizing of a Decaying item under Group Dispatching with Time-dependent Demand and Decay Rates

An economic order quantity model for deteriorating products having stock dependent demand with trade credit period and preservation technology

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