Optimal pricing policies of an inventory model for deteriorating items with discounts

Madhavi, Nimmathota; Rao, K. Srinivasa; Lakshminarayana, J.

doi:10.1504/ijor.2011.043553

Cited by 6 publications

(3 citation statements)

References 24 publications

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“…Dalam pengelolaan persediaan, perusahaan perlu mempertimbangkan biaya penyimpanan, biaya pemesanan, dan biaya kekurangan persediaan. Tujuan manajemen persediaan adalah untuk mencapai keseimbangan yang tepat antara kebutuhan produksi dan biaya persediaan yang efisien [9]. Akan tetapi jika persediaan bahan baku terlalu besar dapat mengakibatkan tingginya biaya untuk menyimpan dan memelihara bahan baku tersebut, disamping itu jika ditinjau dari segi finansial yaitu hal yang tidak efektif karena terlalu besarnya barang modal yang menganggur dan tidak berputar [10].…”

Section: Penulis Pertama Dkkunclassified

Penerapan Metode Silver Meal Heuristic untuk Minimasi Biaya Persediaan Bahan Baku Tahu

Yetrina,

Rifki Muhida,

Abu Bakri

2023

jitekin

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UMKM Pabrik Tahu AL merupakan salah satu produsen tahu yang beralamat di Kecamatan Kuranji, Kota Padang, Sumatera Barat. Secara umum permasalahan kurangnya persediaan bahan baku menduduki peringkat utama dalam permasalahan produksi pada Pabrik Tahu AL. Akibat dari kekurangan tersebut, terjadi kehilangan keuntungan yang diperoleh dan kadang pula terjadi kelebihan persediaan bahan baku sehingga menimbulkan biaya persediaan. Penelitian ini termasuk kedalam penelitian yang bersifat kuantitatif. Penelitian kuantitatif adalah metode penelitian yang mengumpulkan dan menganalisis data numerik untuk memahami fenomena dan menjawab pertanyaan penelitian. Pendekatan ini menggunakan pendekatan ilmiah dan berfokus pada pengukuran objektif dan analisis statistik. Penelitian kuantitatif mengumpulkan data antara lain data persediaan, data kelebihan dan kekurangan bahan baku tahu. Metode yang digunakan untuk pengolahan data yaitu metode Silver-Meal Heuristic. Dari hasil pengolahan data diperoleh hasil bahwa metode ini menghasilkan total biaya persediaan bahan baku yang lebih kecil dari pada total biaya persediaan yang diterapkan oleh Home industry Pabrik Tahu AL selama ini, Berdasarkan data dari bulan Januari 2020 sampai Desember 2021, dari kedua metode pengendalian persediaan bahan baku dapat disimpulkan bahwa metode Silver-Meal Heuristic lebih efisien siap apabila dibandingkan dengan metode Riil home industry dengan tingkat efisiensi sebesar 5,42 persen.

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Section: Penulis Pertama Dkkunclassified

Penerapan Metode Silver Meal Heuristic untuk Minimasi Biaya Persediaan Bahan Baku Tahu

Yetrina,

Rifki Muhida,

Abu Bakri

2023

jitekin

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“…Most of the literature are concerned about pricing and inventory replenishment decision for non-deteriorating demand in single stage system. Also, there are some literature are concerned about pricing and inventory replenishment for deteriorating item in single stage inventory system, such as Saha and Basu (2010), Jaggi et al (2010), Madhavi et al (2011), Guria et al (2012), Maihami and Kamalabadi (2012), Maihami and Karimi (2014), Mahata et al (2014), Chang et al (2015). None of these studies are the integration of supplier and buyer; all of them are single echelon inventory optimisation of deteriorating items.…”

Section: Z Chenmentioning

confidence: 99%

Optimal inventory replenishment and pricing for a single-manufacturer and multi-retailer system of deteriorating items

Chen

2018

IJOR

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This paper studies an integrated optimisation model of inventory replenishment and pricing decisions in a single-manufacturer multi-retailer system of deteriorating items. Two meta-heuristic algorithms, i.e., improved particle swarm optimisation incorporated with SA mechanism (SAPSO), and a continuous domain ant colony optimisation algorithm (CDACO) are developed. Experiments show that two algorithms are effective for solving the model; however, SAPSO has higher effectiveness, efficiency and accuracy than CDACO. Sensitivity analysis shows that price elasticity coefficient significantly impacts decisions of production and retailing, giving managerial implication that reducing price fluctuation can increase profit. However, the effect of deterioration of items is not significant both for cost and profit.

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“…Roy et al 10 introduced an order level inventory model for a deteriorating item, taking the demand rate to be dependent on the sale price of the item and incorporating the concept of the special sale campaign by way of price of reduction is into the model. Madhavi et al 7 developed an inventory model with the assumption that demand is a function of selling price, lifetime of the item is random and follows two parameter exponential distribution and that the deteriorated items are kept in the inventory for second sale. Inventory models for deteriorating items having multivariate demand functions were studied by some authors.…”

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confidence: 99%

Economic Production Quantity Model With Generalized Pareto Rate of Production and Weibull Decay Having Selling Price Dependent Demand

Rao¹,

Madhulatha²,

Muniswamy³

2017

jusps-A

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Economic production quantity models usually assume that the production is fixed and finite. However, due to various random factors effecting the production, the production process becomes random. This paper deals with the development and analysis of economic production quantity model in which the production is random and follows a generalized Pareto distribution. The generalized Pareto distribution is capable of including different types of production rates. Here it is further assumed that the lifetime of the commodity is random and follows a two parameter Weibull distribution. The Weibull decay includes constant, increasing and decreasing rates of deterioration. It is also assumed that the demand is dependent on selling price. Assuming that shortages are allowed and fully backlogged the instantaneous state of on hand inventory is derived. With suitable cost considerations the total cost function and profit rate function are obtained and minimized with respect to the production uptime and downtime. The optimal production uptime, downtime, production quantity and selling price are derived. A numerical illustration demonstrating the solution procedure of the model is presented. The sensitivity analysis of the model revealed that the production and deteriorating distributions parameters have significant influence on the optimal production schedule and production quantity. This model is extended to the case of without shortages. This model also includes some of the earlier models as particular cases for specific or limiting values of the parameters.

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Optimal pricing policies of an inventory model for deteriorating items with discounts

Cited by 6 publications

References 24 publications

Penerapan Metode Silver Meal Heuristic untuk Minimasi Biaya Persediaan Bahan Baku Tahu

Penerapan Metode Silver Meal Heuristic untuk Minimasi Biaya Persediaan Bahan Baku Tahu

Optimal inventory replenishment and pricing for a single-manufacturer and multi-retailer system of deteriorating items

Economic Production Quantity Model With Generalized Pareto Rate of Production and Weibull Decay Having Selling Price Dependent Demand

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