Optimal order quantity and selling price over a product life cycle with deterioration rate linked to expiration date
學年 106
學期 1
出版（發表）日期 2017-11-01
作品名稱 Optimal order quantity and selling price over a product life cycle with deterioration rate linked to expiration date
作品名稱（其他語言）
著者 Jiang Wu; Chun-Tao Chang; Jinn-Tsair Teng; Kuei-Kuei Lai
單位
出版者
著錄名稱、卷期、頁數 International Journal of Production Economics 193, p.343-351
摘要 It is evident that the lower the price, the higher the demand. Therefore, price is an important factor in a consumer's purchasing decision. Additionally, for today's health-conscious consumers, product freshness is another important factor in purchasing decisions. Since product freshness declines over time, today's health-conscious consumers prefer a perishable product with a longer “sell-by” date to a shorter one. Moreover, a product's demand rate moving through its life cycle can be approximately represented by a trapezoid-type pattern which includes constant demand, increasing demand, and decreasing demand as special cases. In existing literature, several researchers have developed inventory models for trapezoidal demand. However, they failed to consider pricing strategy, product freshness linked to expiration date, and purchasing cost. In this study, we enhance previous models by (1) taking pricing into consideration, (2) exploring deterioration rate linked to expiration date, and (3) adding an appropriate non-constant purchasing cost. We then derive theoretical results, and run numerical examples to obtain managerial insights. For instance, the total profit without purchasing cost is significantly lower than that with purchasing cost included. Also, if the cost of lost sales is improperly low, then the total profit may become negative due to a large amount of lost sales.
關鍵字 Inventory control;Pricing;Trapezoid-type demand;Deteriorating items;Expiration date
語言 en_US
ISSN 0925-5273
期刊性質 國外
收錄於 SCI EI
產學合作
通訊作者
審稿制度 是
國別 USA
公開徵稿
出版型式 ,電子版
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