An inventory model for perishable items with stock and advertisement sensitive demand

Chowdhury, R. Roy; Ghosh, Santanu Kumar; Chaudhuri, Kripasindhu

doi:10.1080/17509653.2013.867097

Cited by 9 publications

(6 citation statements)

References 43 publications

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“…The optimal inventory cycle * can be obtained from (23), and the implication of * is illustrated in Figure 1. Within the optimal inventory cycle [0, * ], the optimal inventory standard * ( ) at is expressed in (26), the optimal sales rate − * ( ) at is expressed in (27), and the optimal sales price * ( ) at is expressed in (28).…”

Section: Discussionmentioning

confidence: 99%

“…If the sensitivity analysis result of * from (26), (27), and (28) is obtained, then the sensitivity analysis result of the optimal inventory function, * ( ), and the optimal sales price function, * ( ), can be acquired.…”

Section: Sensitivity Analysis Of the Optimal Solutionmentioning

confidence: 99%

“…The assumption of the traditional EOQ model has been relaxed from "the demand rate is a given constant" to "the demand rate varies according to time" [13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32].…”

Section: Introductionmentioning

confidence: 99%

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Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time

Chen

2017

Journal of Food Quality

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Although the safe consumption of goods such as food products, medicine, and vaccines is related to their freshness, consumers frequently understand less than suppliers about the freshness of goods when they purchase them. Because of this lack of information, apart from sales prices, consumers refer only to the manufacturing and expiration dates when deciding whether to purchase and how many of these goods to buy. If dealers could determine the sales price at each point in time and customers' intention to buy goods of varying freshness, then dealers could set an optimal inventory cycle and allocate a weekly sales price for each point in time, thereby maximizing the profit per unit time. Therefore, in this study, an economic order quality model was established to enable discussion of the optimal control of sales prices. The technique for identifying the optimal solution for the model was determined, the characteristics of the optimal solution were demonstrated, and the implications of the solution's sensitivity analysis were explained.

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Section: Discussionmentioning

confidence: 99%

Section: Sensitivity Analysis Of the Optimal Solutionmentioning

confidence: 99%

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Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time

Chen

2017

Journal of Food Quality

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“…Xie and Wei (2009) and Xie and Neyret (2009) determined the optimal cooperative advertising strategies and equilibrium pricing in a two-echelon distribution channel. Chowdhury, Ghosh, and Chaudhuri (2014) investigated an inventory model for deteriorating items to determine the optimal replenishment lot size and the volume of sales effort in order to maximize profit. However, how much promotional effort the retailer should make in order to impact annual profit significantly is a delicate decision, as too much promotion may incur a great amount of residual cost and may generate lower revenue.…”

Section: Introductionmentioning

confidence: 99%

Effect of cooperative advertising policy for two layer supply chain

Roy¹,

Sana²,

Chaudhuri

2014

International Journal of Management Science and Engineering Man

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The paper investigates the classical newsboy problem in the light of cooperative advertising policy in a two layer supply chain where the manufacturer and the retailer are the members of the chain. As the shelf-life of newsboy products is very short, so advertising has immense importance for the newsboy problem. The prime objective of this paper is to introduce an advertising policy that will increase sales and eventually avoid the chance of overstocking of products. Another prospect of the advertising policy is that it will also help companies to attract a wider range of target customers by highlighting the different lucrative characteristics of their product. In this paper, an expected average channel profit has been calculated and maximized analytically. Numerical examples are considered in order to test the model and one of them is illustrated graphically. Finally, sensitivity analysis of the model with respect to key parameters of the system is carried out.

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“…But researchers have always investigated parameters that affect demand as stock-level, time, price, advertisement, and trade credit. Khouja and Robbins [13], Shah and Pandey [23], Giri and Maiti [9], Chowdhury et al [5], Shah [24], Chung and Crdenas-Barrn [6] etc. used different types of demand and developed their inventory models.…”

Section: Introductionmentioning

confidence: 99%

Quantity discount for integrated supply chain model with back order and controllable deterioration rate

Mishra

Talati

2018

YUGOSLAV J OPERATION

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Due to uncertainty in economy, business players examine different ways to ensure the survival and growth in the competitive atmosphere. In this scenario, the use of effective promotional tool and co-ordination among players enhance supply chain profit. The proposed model deals with the effect of quantity discount on an integrated inventory system for constantly deteriorating items with fix life time. We use advertisement and quantity discount to accelerate stock dependent demand and further, the offered preservation technology for controlling deterioration rate. The model is validated numerically, and the sensitivity analysis for critical supply chain parameters is carried out. The results can be used in the decision making process of the supply chains associated with the supply of cosmetic, tinned food, drugs, and other FMCGs.

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An inventory model for perishable items with stock and advertisement sensitive demand

Cited by 9 publications

References 43 publications

Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time

Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time

Effect of cooperative advertising policy for two layer supply chain

Quantity discount for integrated supply chain model with back order and controllable deterioration rate

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