NDLI: Optimal pricing and ordering policies for non-instantaneously deteriorating items under order-size-dependent delay in payments

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Optimal pricing and ordering policies for non-instantaneously deteriorating items under order-size-dependent delay in payments

Content Provider	Semantic Scholar
Author	Chang, Chun-Tao Cheng, Mei-Chuan Ouyang, Liang-Yuh
Copyright Year	2015
Abstract	In today’s competitive business transactions, the supplier may permit his/her retailers a delay in payment in order to encourage the retailers to buy more. During the permissible delay period, the retailer is allowed to postpone paying for the products bought without incurring any interest. In this study, we consider an inventory system with non-instantaneously deteriorating items in circumstances where the supplier provides the retailer with various trade credits linked to order quantity. First, we develop a mathematical model to identify the optimal pricing and ordering policies for maximizing the retailer’s total profit. This followed by a discussion of the characteristics of the optimal solution. We then propose some algorithms for finding the optimal solutions. Finally, numerical examples are presented and a sensitivity analysis is undertaken to illustrate the proposed model.
Starting Page	747
Ending Page	763
Page Count	17
File Format	PDF HTM / HTML
DOI	10.1016/j.apm.2014.07.002
Volume Number	39
Alternate Webpage(s)	https://www.researchgate.net/profile/Liang-Yuh_Ouyang/publication/270987709_Optimal_pricing_and_ordering_policies_for_non-instantaneously_deteriorating_items_under_order-size-dependent_delay_in_payments/links/54c04c350cf28a6324a32a2a.pdf
Alternate Webpage(s)	https://doi.org/10.1016/j.apm.2014.07.002
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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