Joint production planning, pricing and inventory control for deteriorating items

Hamed Pouralikhani, Mohammad Mohammadi and Bahman Naderi

International Journal of Services and Operations Management, 2017, vol. 28, issue 3, 279-308

Abstract: In this paper, an inventory model with time and price dependent demand is developed in two echelon supply chain consists of producer and retailer. Deterioration rate considering in this model is assumed to follow Weibull distribution with known parameters. In addition, shortage is allowed in retailer and partially backlogged. The purpose of this research is to maximise the profits for firms which one side retailer finds the selling price and the economic order quantity simultaneously, and another side producer optimises production time and the number of delivery. The optimal decisions are determined by a proposed solution algorithm, and a numerical example is solved to endorse it. Eventually, sensitivity analysis on the optimal solution is carried out, and also some practical examples are presented.

Keywords: inventory control; production planning; pricing; time proportional deteriorating items; time and price dependent demand. (search for similar items in EconPapers)
Date: 2017
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