Retailer's Joint Ordering, Pricing, and Preservation Technology Investment Policies for a Deteriorating Item under Permissible Delay in Payments

Umakanta Mishra, Jacobo Tijerina-Aguilera, Sunil Tiwari, Leopoldo Eduardo Cárdenas-Barrón

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

This article develops an inventory model for deteriorating items with controllable deterioration rate (by using preservation technology) under trade credit policy. As in practical scenarios the demand of an item is directly associated with its selling price, keeping this in mind, it is assumed to be a price dependent demand. The main objective of the inventory model is to determine jointly the optimal ordering, pricing, and preservation technology investment policies for retailer so that the total profit is maximized. The effects of key parameters on optimal solution are studied through a sensitivity analysis with the aim of examining the behavior of the inventory model with controllable deterioration under the permissible delay in payments.
Original languageUndefined/Unknown
Pages (from-to)1-14
Number of pages14
JournalMathematical Problems in Engineering
Volume2018
DOIs
Publication statusPublished - 2018

Cite this

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title = "Retailer's Joint Ordering, Pricing, and Preservation Technology Investment Policies for a Deteriorating Item under Permissible Delay in Payments",
abstract = "This article develops an inventory model for deteriorating items with controllable deterioration rate (by using preservation technology) under trade credit policy. As in practical scenarios the demand of an item is directly associated with its selling price, keeping this in mind, it is assumed to be a price dependent demand. The main objective of the inventory model is to determine jointly the optimal ordering, pricing, and preservation technology investment policies for retailer so that the total profit is maximized. The effects of key parameters on optimal solution are studied through a sensitivity analysis with the aim of examining the behavior of the inventory model with controllable deterioration under the permissible delay in payments.",
author = "Umakanta Mishra and Jacobo Tijerina-Aguilera and Sunil Tiwari and C{\'a}rdenas-Barr{\'o}n, {Leopoldo Eduardo}",
year = "2018",
doi = "10.1155/2018/6962417",
language = "Undefined/Unknown",
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Retailer's Joint Ordering, Pricing, and Preservation Technology Investment Policies for a Deteriorating Item under Permissible Delay in Payments. / Mishra, Umakanta; Tijerina-Aguilera, Jacobo; Tiwari, Sunil; Cárdenas-Barrón, Leopoldo Eduardo.

In: Mathematical Problems in Engineering, Vol. 2018, 2018, p. 1-14.

Research output: Contribution to journalArticle

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AU - Tijerina-Aguilera, Jacobo

AU - Tiwari, Sunil

AU - Cárdenas-Barrón, Leopoldo Eduardo

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DO - 10.1155/2018/6962417

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