Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time
Author
Source
Issue
Vol. 2017, Issue 2017 (31 Dec. 2017), pp.1-12, 12 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2017-09-10
Country of Publication
Egypt
No. of Pages
12
Abstract EN
Although the safe consumption of goods such as food products, medicine, and vaccines is related to their freshness, consumers frequently understand less than suppliers about the freshness of goods when they purchase them.
Because of this lack of information, apart from sales prices, consumers refer only to the manufacturing and expiration dates when deciding whether to purchase and how many of these goods to buy.
If dealers could determine the sales price at each point in time and customers’ intention to buy goods of varying freshness, then dealers could set an optimal inventory cycle and allocate a weekly sales price for each point in time, thereby maximizing the profit per unit time.
Therefore, in this study, an economic order quality model was established to enable discussion of the optimal control of sales prices.
The technique for identifying the optimal solution for the model was determined, the characteristics of the optimal solution were demonstrated, and the implications of the solution’s sensitivity analysis were explained.
American Psychological Association (APA)
Chen, Po-Yu. 2017. Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time. Journal of Food Quality،Vol. 2017, no. 2017, pp.1-12.
https://search.emarefa.net/detail/BIM-1176021
Modern Language Association (MLA)
Chen, Po-Yu. Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time. Journal of Food Quality No. 2017 (2017), pp.1-12.
https://search.emarefa.net/detail/BIM-1176021
American Medical Association (AMA)
Chen, Po-Yu. Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time. Journal of Food Quality. 2017. Vol. 2017, no. 2017, pp.1-12.
https://search.emarefa.net/detail/BIM-1176021
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1176021