Joint Optimal Pricing and Inventory Control for Deteriorating Items under Inflation and Customer Returns
Joint Authors
Arshsadi khamseh, Alireza
Ghoreishi, Maryam
Mirzazadeh, Abolfazl
Source
Journal of Industrial Engineering
Issue
Vol. 2013, Issue 2013 (31 Dec. 2013), pp.1-7, 7 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2013-02-03
Country of Publication
Egypt
No. of Pages
7
Main Subjects
Engineering Sciences and Information Technology
Science
Abstract EN
This paper studies the effect of inflation and customer returns on joint pricing and inventory control for deteriorating items.
We adopt a price and time dependent demand function, also the customer returns are considered as a function of both price and demand.
Shortage is allowed and partially backlogged.
The main objective is determining the optimal selling price, the optimal replenishment cycles, and the order quantity simultaneously such that the present value of total profit in a finite time horizon is maximized.
An algorithm has been presented to find the optimal solution.
Finally, we solve a numerical example to illustrate the solution procedure and the algorithm.
American Psychological Association (APA)
Ghoreishi, Maryam& Arshsadi khamseh, Alireza& Mirzazadeh, Abolfazl. 2013. Joint Optimal Pricing and Inventory Control for Deteriorating Items under Inflation and Customer Returns. Journal of Industrial Engineering،Vol. 2013, no. 2013, pp.1-7.
https://search.emarefa.net/detail/BIM-492317
Modern Language Association (MLA)
Ghoreishi, Maryam…[et al.]. Joint Optimal Pricing and Inventory Control for Deteriorating Items under Inflation and Customer Returns. Journal of Industrial Engineering No. 2013 (2013), pp.1-7.
https://search.emarefa.net/detail/BIM-492317
American Medical Association (AMA)
Ghoreishi, Maryam& Arshsadi khamseh, Alireza& Mirzazadeh, Abolfazl. Joint Optimal Pricing and Inventory Control for Deteriorating Items under Inflation and Customer Returns. Journal of Industrial Engineering. 2013. Vol. 2013, no. 2013, pp.1-7.
https://search.emarefa.net/detail/BIM-492317
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-492317