RT info:eu-repo/semantics/article
T1 Optimal price and quantity under power demand pattern and non-linear holding cost.
A1 San-José Nieto, Luis Augusto
A1 Sicilia Rodríguez, Joaquín
A1 Cárdenas Barrón, Leopoldo Eduardo
A1 Gutiérrez Expósito, José Miguel
K1 Pricing
K1 Inventory models
K1 Maximum profit
K1 Power demand pattern
K1 Non-linear holding cost
AB In this work we develop a deterministic inventory model for an item whose demand depends on both selling price and time since the last inventory replenishment. More specifically, we assume that the demand rate additively combines the effects of selling price and a time-power function. Moreover, we consider that the holding cost is a power function of the amount of time that a firm holds inventory in stock. The objective is to determine the inventory cycle and the selling price that maximize the total inventory profit per unit time. We present an efficient algorithm to solve this inventory problem. Some numerical examples are provided to illustrate how the algorithm operates.
SN 0360-8352
YR 2019
FD 2019
LK http://riull.ull.es/xmlui/handle/915/35764
UL http://riull.ull.es/xmlui/handle/915/35764
LA en
DS Repositorio institucional de la Universidad de La Laguna
RD 14-oct-2024