Optimizing Inventory and Pricing Policy for Seasonal Deteriorating Products with Preservation Technology Investment

He, Yong; Huang, Hongfu

doi:10.1155/2013/793568

Cited by 57 publications

(36 citation statements)

References 22 publications

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“…(iii) It is considered the assumption of He and Huang [51] which is as follows: ( ) = 0 − , where ( ) is the deterioration rate after investing on preservation technology, 0 is the deterioration rate without preservation technology investment, and is the sensitive parameter of investment to the deterioration rate. The relationship of deterioration rate and the preservation technology investment parameter satisfies the following conditions: ( )/ < 0, 2 ( )/ > 0.…”

Section: Assumptionsmentioning

confidence: 99%

Retailer’s Joint Ordering, Pricing, and Preservation Technology Investment Policies for a Deteriorating Item under Permissible Delay in Payments

Mishra

Tijerina-Aguilera

Tiwari

et al. 2018

Mathematical Problems in Engineering

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This article develops an inventory model for deteriorating items with controllable deterioration rate (by using preservation technology) under trade credit policy. As in practical scenarios the demand of an item is directly associated with its selling price, keeping this in mind, it is assumed to be a price dependent demand. The main objective of the inventory model is to determine jointly the optimal ordering, pricing, and preservation technology investment policies for retailer so that the total profit is maximized. The effects of key parameters on optimal solution are studied through a sensitivity analysis with the aim of examining the behavior of the inventory model with controllable deterioration under the permissible delay in payments.

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Section: Assumptionsmentioning

confidence: 99%

Retailer’s Joint Ordering, Pricing, and Preservation Technology Investment Policies for a Deteriorating Item under Permissible Delay in Payments

Mishra

Tijerina-Aguilera

Tiwari

et al. 2018

Mathematical Problems in Engineering

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“…They utilized particle swarm optimization to solve the nonlinear programming problem. He and Huang [16] studied the optimal preservation, pricing, and ordering decisions for a kind of seasonal products. Hsieh et al…”

Section: Single Level Supply Chain Inventory Modelsmentioning

confidence: 99%

Quality and Operations Management in Food Supply Chains: A Literature Review

Huang

et al. 2018

Journal of Food Quality

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We present a literature review on quality and operations management problems in food supply chains. In food industry, the quality of the food products declines over time and should be addressed in the supply chain operations management. Managing food supply chains with operations management methods not only generates economic benefit, but also contributes to environmental and social benefits. The literature on this topic has been burgeoning in the past few years. Since 2005, more than 100 articles have been published on this topic in major operations research and management science journals. In this literature review, we concentrate on the quantitative models in this research field and classify the related articles into four categories, that is, storage problems, distribution problems, marketing problems, and food traceability and safety problems. We hope that this review serves as a reference for interested researchers and a starting point for those who wish to explore it further.

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“…Dye (2013) presented an extended model of Hsu et al (2010) to considering an inventory system with non-instantaneous deteriorating item and analysis the effect of preservation technology investment. He and Huang (2013) considered a retailer's lot-sizing problem for deteriorating items and optimal preservation technology investment with pricesensitive demand. Gupta et al (2013), Singh and Sharma (2013) and Dye and Hsieh (2013) adopted preservation technology investment to the model finite time horizon inventory problem of decaying items which are subject to the supplier's trade credit.…”

Section: Introductionmentioning

confidence: 99%

Joint pricing, inventory, and preservation decisions for deteriorating items with stochastic demand and promotional efforts

Soni¹,

Chauhan²

2018

J Ind Eng Int

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This study models a joint pricing, inventory, and preservation decision-making problem for deteriorating items subject to stochastic demand and promotional effort. The generalized price-dependent stochastic demand, time proportional deterioration, and partial backlogging rates are used to model the inventory system. The objective is to find the optimal pricing, replenishment, and preservation technology investment strategies while maximizing the total profit per unit time. Based on the partial backlogging and lost sale cases, we first deduce the criterion for optimal replenishment schedules for any given price and technology investment cost. Second, we show that, respectively, total profit per time unit is concave function of price and preservation technology cost. At the end, some numerical examples and the results of a sensitivity analysis are used to illustrate the features of the proposed model.

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Optimizing Inventory and Pricing Policy for Seasonal Deteriorating Products with Preservation Technology Investment

Cited by 57 publications

References 22 publications

Retailer’s Joint Ordering, Pricing, and Preservation Technology Investment Policies for a Deteriorating Item under Permissible Delay in Payments

Retailer’s Joint Ordering, Pricing, and Preservation Technology Investment Policies for a Deteriorating Item under Permissible Delay in Payments

Quality and Operations Management in Food Supply Chains: A Literature Review

Joint pricing, inventory, and preservation decisions for deteriorating items with stochastic demand and promotional efforts

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