RETAILER’S OPTIMAL PRICING AND ORDERING POLICIES OF NON-INSTANTANEOUS DETERIORATING ITEMS WITH QUADRATIC DEMAND OF TIME AND LINEAR HOLDING COST

Authors

  • Sudhir Kumar Sahu, Manoj Kumar Meher innovative journal publication pvt. ltd

Abstract

In this paper we have presented an inventory system for non-instantaneous deteriorating items with demand as quadratic function of time, constant deteriorating rate and linear holding cost. This model is developed in which shortages are allowed and partially backlogged, where the backlogging rate is variable and dependent on the waiting time for the next replenishment. The major objective is to determine the optimal selling price, the length of time in which there is no inventory shortage and the replenishment cycle time simultaneously such that the total profit per unit time has a maximum value. An algorithm is developed to find the optimal solution, and numerical examples are provided to illustrate the theoretical result. A sensitivity analysis of the optimal solution with respect to major parameters is also carried out.

Downloads

Published

2013-10-04

How to Cite

Manoj Kumar Meher, S. K. S. (2013). RETAILER’S OPTIMAL PRICING AND ORDERING POLICIES OF NON-INSTANTANEOUS DETERIORATING ITEMS WITH QUADRATIC DEMAND OF TIME AND LINEAR HOLDING COST. Asian Journal of Current Engineering and Maths, 2(5). Retrieved from http://medicaleditor.uk/index.php/ajcem/article/view/51

Issue

Vol. 2 No. 5 (2013): ASIAN JOURNAL OF CURRENT ENGINEERING AND MATHS

Section

Articles

License

COPYRIGHT AGREEMENT AND AUTHORSHIP RESPONSIBILITY

 

All paper submissions must carry the following duly signed by all the authors:

“I certify that I have participated sufficiently in the conception and design of this work and the analysis of the data (wherever applicable), as well as the writing of the manuscript, to take public responsibility for it. I believe the manuscript represents valid work. I have reviewed the final version of the manuscript and approve it for publication. Neither has the manuscript nor one with substantially similar content under my authorship been published nor is being considered for publication elsewhere, except as described in an attachment. Furthermore I attest that I shall produce the data upon which the manuscript is based for examination by the editors or their assignees, if requested.”