A Partial Backlogging Inventory Model for Deteriorating Items with Fluctuating Selling Price and Purchasing Cost
Author
Source
Advances in Operations Research
Issue
Vol. 2012, Issue 2012 (31 Dec. 2012), pp.1-15, 15 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2012-04-30
Country of Publication
Egypt
No. of Pages
15
Main Subjects
Information Technology and Computer Science
Abstract EN
In today’s competitive markets, selling price and purchasing cost are usually fluctuating with economic conditions.
Both selling price and purchasing cost are vital to the profitability of a firm.
Therefore, in this paper, I extend the inventory model introduced by Teng and Yang (2004) to allow for not only the selling price but also the purchasing cost to change from one replenishment cycle to another during a finite time horizon.
The objective is to find the optimal replenishment schedule and pricing policy to obtain the profit as maximum as possible.
The conditions that lead to a maximizing solution guarantee that the existence, uniqueness, and global optimality are proposed.
An efficient solution procedure and some theoretical results are presented.
Finally, numerical examples for illustration and sensitivity analysis for managerial decision making are also performed.
American Psychological Association (APA)
Yang, Hui-Ling. 2012. A Partial Backlogging Inventory Model for Deteriorating Items with Fluctuating Selling Price and Purchasing Cost. Advances in Operations Research،Vol. 2012, no. 2012, pp.1-15.
https://search.emarefa.net/detail/BIM-467923
Modern Language Association (MLA)
Yang, Hui-Ling. A Partial Backlogging Inventory Model for Deteriorating Items with Fluctuating Selling Price and Purchasing Cost. Advances in Operations Research No. 2012 (2012), pp.1-15.
https://search.emarefa.net/detail/BIM-467923
American Medical Association (AMA)
Yang, Hui-Ling. A Partial Backlogging Inventory Model for Deteriorating Items with Fluctuating Selling Price and Purchasing Cost. Advances in Operations Research. 2012. Vol. 2012, no. 2012, pp.1-15.
https://search.emarefa.net/detail/BIM-467923
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-467923