Optimal Price, Cycle Time and Advertising for an Inventory Model of Deteriorating Items: A Geometric Programming Approach

Message:
Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:
In recent years researchers have been interested in inventory models for deteriorating items along with determining the price of these items; given that in many real-world problems, changing the price can affect the demand level. Meanwhile, there are some other demand stimulation like advertising, multiple post-payments and discounting which can change and control the demand level of the items. In this paper, a new deteriorating inventory model was developed that considers these three demand stimulation along with pricing. The model has been converted and solved using geometric programming approach. Meanwhile, genetic algorithm was used as an alternative method to test the performance of GP approach. The model was implemented in real case study of food industry and numerical results and sensitivity analyses demonstrate the superiority of developed approach.
Language:
English
Published:
International Journal of Supply and Operations Management, Volume:9 Issue: 3, Summer 2022
Pages:
281 to 298
https://www.magiran.com/p2458406  
سامانه نویسندگان
  • Mohammad Reza Gholamian
    Corresponding Author (2)
    Associate Professor Industrial Engineering, Iran University of Science and Technology, Tehran, Iran
    Gholamian، Mohammad Reza
اطلاعات نویسنده(گان) توسط ایشان ثبت و تکمیل شده‌است. برای مشاهده مشخصات و فهرست همه مطالب، صفحه رزومه را ببینید.
مقالات دیگری از این نویسنده (گان)