A production inventory model for high-tech products involving two production runs and a product variation

نویسندگان

چکیده

This paper explores a production inventory model considering two high-tech products of the same kind. One is primary product and other updated version that product. Due to continuous development in technology, life-cycle some products, like, smartphone, tablet, laptop, etc. have become shorter. We witness launching new more frequently this field. prompts manufacturers release an or pro their existing after certain time compete market. The reputation (in terms quality performance) plays important role generating demand for short proposed considers only consecutive runs. one Here demands both depend on respective selling prices. Moreover, also dependent Shortages are allowed. Those shortages backlogged partially with Also, possibility imperfect during regular runs considered. prices, rates, run times considered here as decision variables. complexity resulting optimization problem, quantum-behaved particle swarm technique applied derive optimal profit. concavity natures profit function shown graphically. A numerical illustration presented economic validation model. Finally, sensitivity analysis solutions concerning key parameters conducted identifying several managerial implications.Note: affiliations three authors been corrected online.

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ژورنال

عنوان ژورنال: Journal of Industrial and Management Optimization

سال: 2023

ISSN: ['1547-5816', '1553-166X']

DOI: https://doi.org/10.3934/jimo.2022038