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Developing two deteriorating inventory models with selling price dependant demand rate and cycle time dependant selling price

Haji, A ; Sharif University of Technology | 2007

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  1. Type of Document: Article
  2. Publisher: 2007
  3. Abstract:
  4. In this paper we develop two models; the without shortages and the completely backlogging shortages with the price dependant demand rate under time value of money and inflation, finite time horizon and exponentially deterioration rate with the objective of maximizing the present worth of the total system profit. Using the dynamic programming method for each model, we are able to obtain different selling price, order quantity and cycle length for each cycle. We also use a proper numerical example to show accuracy of the solution procedures and to compare the results. This research and its results are unique and have never been concluded before
  5. Keywords:
  6. Deterioration rates ; Dynamic programming methods ; Finite time horizon ; Inventory models ; Operation research ; Solution procedure ; Time value of money ; Without shortage ; Deterioration ; Dynamic programming ; Industrial engineering ; Inventory control ; Sales ; Costs
  7. Source: 37th International Conference on Computers and Industrial Engineering 2007, Alexandria, 20 October 2007 through 23 October 2007 ; Volume 2 , 2007 , Pages 1330-1339 ; 9781627486811 (ISBN)
  8. URL: https://www.researchgate.net/publication/289093452_Developing_two_deteriorating_inventory_models_with_selling_price_dependant_demand_rate_and_cycle_time_dependant_selling_price