A replenishment policy for items with price-dependent demand, time-proportional deterioration and no shortages

R. Begum, R.R. Sahoo and S.K. Sahu

International Journal of Systems Science, 2012, vol. 43, issue 5, 903-910

Abstract: In this article, an order-level inventory system for deteriorating items has been developed with demand rate as a function of selling price. The demand and the deterioration rate are price dependent and time proportional, respectively. We have considered a perishable item that follows a three-parameter Weibull distribution deterioration. Shortages are not permitted in our model. The optimal solution is illustrated with a numerical example and the sensitivity analysis of parameters is carried out.

Date: 2012
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DOI: 10.1080/00207721.2010.543481

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