An EPQ model for deteriorating items with time and price dependent demand under markdown policy

Srivastava, Meenakshi; Gupta, Ranjana

doi:10.1007/s12597-013-0124-7

Cited by 14 publications

(1 citation statement)

References 9 publications

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“…Dye [19] considered a logic over an infinite time horizon with allowable back-ordering. Similar papers were developed by Panda et al [20], Tsao and Sheen [21], Lin et al [22], Dye and Ouyang [23], Wang and Lin [24], Ghoreishi et al [25], Soni and Patel [26], Srivastava and Gupta [27], Wang and Huang [28], Bai et al [29], Bhunia et al [30], Rabbani et al [ 31], Indrajitsingha et al [32,33]. Recently one work was developed by Rahamann and Duary [34] to handle the fluctuating customer demand (selling price dependent).…”

Section: Introductionsupporting

confidence: 53%

An EOQ Model of Selling-Price-Dependent Demand for Non-Instantaneous Deteriorating Items during the Pandemic COVID-19

Indrajitsingha¹,

Raula²,

Samanta

et al. 2021

Walailak J Sci & Tech

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A pricing factor plays a dominant role in consumer behavior in most countries affected by the COVID19 pandemic. People have lost their job while others renegotiated for low-paying jobs during this pandemic. Thus, this article aims to develop a viable model to consider various aspects of the COVID19 pandemic. Here, we develop an optimal ordering quantity inventory model of deteriorating items, which are still in demand depending upon the selling price of the product. The items are assumed to be non-instantaneous deteriorating. The shortage is allowed in lead time and is partially backlogged. A solution procedure is presented to determine an optimal cycle, order quantity, and total average cost. A realistic numerical example is given to validate the proposed model by changing different systems of parameters, where sensitivity analysis has been carried out. The effectiveness of the system has been observed through graphical representation. HIGHLIGHTS The study considers the inventory model for non-instantaneous deteriorating items. Selling price dependent demand is incorporated. The shortage is allowed in lead time and is partially backlogged. Theoretical results have been formed to characterize the optimal solutions. The effect of key parameters is studies rigorously. GRAPHICAL ABSTRACT

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