2020
DOI: 10.3934/jimo.2019019
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Deteriorating inventory with preservation technology under price- and stock-sensitive demand

Abstract: In this paper, we formulate and solve an Economic Production Quantity inventory model with deteriorating items. To reduce the rate of deterioration, we apply a preservation technology and calculate the amount for preservation technology investment. The demand function is dependent on stock-level and price. We assume that the production rate is linearly dependent on time, based on customer demand. Shortages are allowed in our consideration, and the shortages amount is partially backlogged for the interested cus… Show more

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Cited by 60 publications
(34 citation statements)
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“…Recently, Pervin et al [26] presented a deteriorating and decaying inventory model under trade-credit policy. Newly, Pervin et al [31] added the effect of preservation technology to reduce the rate of deterioration.…”
Section: Motivation and Review On Researchmentioning
confidence: 99%
“…Recently, Pervin et al [26] presented a deteriorating and decaying inventory model under trade-credit policy. Newly, Pervin et al [31] added the effect of preservation technology to reduce the rate of deterioration.…”
Section: Motivation and Review On Researchmentioning
confidence: 99%
“…Recently, Shaikh et al [41] noticed the retailer's optimal replacement policy of a two-warehouse inventory model for non-instantaneous items with interval-valued inventory costs and stock-dependent demand under inflationary conditions. Once-more, a deteriorating inventory model with preservation technology under price-dependent demand was proposed by Pervin et al [31], where the production rate was treated as a time-dependent function. Khanna et al [22] determined order lot size, back-order rate and selling price for an inventory model of imperfect quality items with selling-price-dependent demand under credit financing.…”
Section: (D)mentioning
confidence: 99%
“…. By substituting Equations (34) and (35) into Equation (30), we can obtain the optimal pricing strategy for the forward-looking case as The proof is complete.…”
mentioning
confidence: 99%
“…The inventory system for perishable items has been reported by [14] and [2]. Joint pricing and inventory control policies for the perishable items have gained much attention, such as [46], [52], [10], [45], [22], [32], [6], [33], [25], [43], [38], [34], [35]. In particular, [47] apply heuristics and search methods to derive the optimal replenishment and pricing strategies with considering the time-value of money in a deteriorating inventory system with pricedependent demand.…”
mentioning
confidence: 99%