Optimal replenishment policies for non-instantaneous deteriorating items with price and stock sensitive demand under permissible delay in payment
Optimal replenishment policies for non-instantaneous deteriorating items with price and stock sensitive demand under permissible delay in payment
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DOI：
10.1016/j.ijpe.2013.07.006
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发表时间：
2013-11
影响因子：
12
通讯作者：
Hardik N. Soni
中科院分区：
文献类型：
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作者：
Hardik N. Soni
本研究的动机是Chang等人的论文[International Journal of Production Economics 123（2010）62-68]。我们从两个方面扩展了他们的库存模型。(1)需求率是价格和库存水平的多元函数。（2）延迟付款是允许的。在这些假设下，我们首先建立了一个数学模型，然后得到了一些有用的理论结果来表征非零库存系统和零期末库存系统的最优解。数值例子来说明理论结果。一个合适的例子进行了敏感性分析，并提出了一些管理见解。我们的分析表明，保持较高的库存水平是更有利的，希望刺激更多的需求，即使它会导致非零期末库存。
This study is motivated by the paper of Chang et al. [International Journal of Production Economics 123 (2010) 62–68]. We extend their inventory model from two aspects. (1) The demand rate as multivariate function of price and level of inventory (2) Delay in payment is permissible. Under these assumptions, we first formulated a mathematical model and then some useful theoretical results have been derived to characterize the optimal solutions for non-zero and zero ending inventory system. Numerical examples are presented to illustrate the theoretical results. The sensitivity analysis of a suitable example is performed and some managerial insights are proposed. Our analysis revels that it is more beneficial to keep higher inventory level, hoping to stimulate more demand, even if it results in non-zero ending inventory.