An optimal inventory pricing and ordering strategy subject to demand dependent on stock level and price
نویسندگان
چکیده
منابع مشابه
An optimal inventory pricing and ordering strategy subject to demand dependent on stock level and price
This article considers the deterministic singular optimal control problem of profit maximisation for inventory replenished at a variable rate and depleted by demand which is assumed to vary with price and stock availability. Optimal policies for the product order rate and price are derived using the maximum principle. Several initial inventory regions are identified as potential inventory state...
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We develop an inventory model to determine optimal ordering policy under permissible delay in payment by considering demand rate to be stock dependent. Mathematical models are derived under two different cases: credit period being greater than or equal to cycle time for settling the account, and credit period being less than or equal to cycle time for settling the account. The results are illus...
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ژورنال
عنوان ژورنال: International Journal of Mathematics in Operational Research
سال: 2015
ISSN: 1757-5850,1757-5869
DOI: 10.1504/ijmor.2015.071283