RT info:eu-repo/semantics/article
T1 An inventory system with demand dependent on both time and price assuming backlogged shortages
A1 San José Nieto, Luis Augusto
A1 Sicilia Rodríguez, Joaquín
A1 Alcaide López de Pablo, David
K1 Inventory
K1 Price and time-dependent demand
K1 Backlogged demand
K1 Profit optimization
K1 12 Matemáticas
AB In this work we analyze an inventory model for items whose demand is a bivariate function of price and time. It is supposed that the demand rate multiplicatively combines the effects of a time-power function and a price-logit function. The aim is to maximize the profit per time unit, assuming that the inventory cost per time unit is the sum of the holding, shortage, ordering and purchasing costs. An algorithm is developed to find the optimal price, the optimal lot size and the optimal replenishment cycle. Several numerical examples are introduced to illustrate the solution procedure.
PB Elsevier
SN 0377-2217
YR 2018
FD 2018
LK https://uvadoc.uva.es/handle/10324/65886
UL https://uvadoc.uva.es/handle/10324/65886
LA eng
NO European Journal of Operational Research, November 2018, vol. 270, n. 3, p. 889-897
NO Producción Científica
DS UVaDOC
RD 04-jun-2024