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
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.
SN 0377-2217
YR 2017
FD 2017
LK http://riull.ull.es/xmlui/handle/915/35772
UL http://riull.ull.es/xmlui/handle/915/35772
LA en
DS Repositorio institucional de la Universidad de La Laguna
RD 06-ago-2024