Optimal inventory strategies for deteriorating items with price-sensitive investment in preservation technology

With recent developments in the technological world, issue of deterioration has been addressed efficiently through preservation technology by numerous researchers. The fundamental concept involves an investment that is majorly dependent on initial rate, irrespective selling price product. Owing to this, two different products having same rate but requires equal investment, which irrational. Further, was considered be per unit time number units being held, again a major drawback existing literature. Thus, this paper attempts bridge gap proposing realistic way implementing technology, where not only unit, also depends unit. model jointly optimizes price, fraction profit invested and cycle length maximize overall profit. proposed proves out economically more viable, superior cost management, when compared with model. further illustrated comparative numerical examples graphical representations. Moreover, sensitivity analysis performed convey characteristics.