Pricing strategy in an interval-valued production inventory model for high-tech products under demand disruption and price revision

Ruidas, Subhendu; Seikh, Mijanur Rahaman; Nayak, Prasun Kumar

doi:10.3934/jimo.2022222

Cited by 16 publications

(9 citation statements)

References 17 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Nagpal et al [42] built an EOQ model for successive multi-generation product-diffusion scenarios; however, their model did not include production. Specifically, Ruidas et al [43] conducted extensive and in-depth research on the multi-generation product renewal problem and proposed a model that incorporates factors such as price, advertising, demand disruption, product substitution, inventory, and production and provides the optimal inventory and pricing strategy under carbon emissions trading. Subsequently, they considered the impact of quality on an updated version of the product, briefly explained the relationship between quality and brand, and developed an EPQ model on this basis [44].…”

Section: Production and Inventory In The Diffusion Processmentioning

confidence: 99%

“…Specifically, Ruidas et al [43] conducted extensive and in-depth research on the multi-generation product renewal problem and proposed a model that incorporates factors such as price, advertising, demand disruption, product substitution, inventory, and production and provides the optimal inventory and pricing strategy under carbon emissions trading. Subsequently, they considered the impact of quality on an updated version of the product, briefly explained the relationship between quality and brand, and developed an EPQ model on this basis [44]. Bayrak et al [45] considered production recycling in a closed-loop supply chain with multi-generation product diffusion; however, they did not consider the effect of inventory.…”

Section: Production and Inventory In The Diffusion Processmentioning

confidence: 99%

See 1 more Smart Citation

Modeling and simulating the multi-generation product sales, production and inventory system within the context of quality upgrades

Bo,

Yuan,

2024

PLoS ONE

View full text Add to dashboard Cite

The rapid development of science and technology has led to an increasing number of high-tech enterprises offering new products through successive generations of product upgrades. This trend presents a new challenge for the sustainable operations of enterprises. Based on the Norton-Bass model, this study begins by constructing a multi-generation product diffusion model within a single enterprise in the context of a monopoly under the quality upgrade scenario. Subsequently, a supply model is established based on this foundation, and these two models are seamlessly integrated using product sales volume as an interface, culminating in a comprehensive sales-supply system. This study analyzes the effects of new-product pricing, quality levels, initial stock, and production capacity on the performance of this system. The system dynamics (SD) method was used to simulate and solve the system in the decentralized and centralized decision-making modes, and the two decision-making modes were compared and analyzed. The research reveals several key findings. i) Comprehensive decision optimization yields enhanced profitability through joint optimization calculation of the multi-generation product diffusion system and the supply adjustment system. ii) consumer price sensitivity significantly affects product quality upgrades and profits. A negative correlation exists between consumer price sensitivity and both factors. The upgrades of product quality should be carefully traded off with consideration of pricing and quality costs. iii) Maximizing profits by maintaining a certain order level of backlog or stock shortage is beneficial for overall enterprise profitability. Additionally, optimal production capacity has been identified as a crucial element in efficient operational inventory management. This study expands the multi-generation product diffusion operational theory and provides valuable theoretical support and decision-making foundations for the sustainable management of enterprises.

show abstract

Section: Production and Inventory In The Diffusion Processmentioning

confidence: 99%

Section: Production and Inventory In The Diffusion Processmentioning

confidence: 99%

Modeling and simulating the multi-generation product sales, production and inventory system within the context of quality upgrades

Bo,

Yuan,

2024

PLoS ONE

View full text Add to dashboard Cite

show abstract

“…It has never been more difcult to plan and identify the data you need to do so. Keeping this in mind, scholars have studied SC inventory models with diferent demand nature (see [51][52][53]). For example, Jauhari [51] addressed a threestage inventory production system with equal-sized deliveries.…”

Section: Application Of Bct In the Supply Chain Systemmentioning

confidence: 99%

“…Priyamvada and Kumar [29] developed an effcient optimal model for retailers with selling price and efciency of the investment-dependent demand. Ruidas et al [53] suggested pricing tactics in an interval-valued production inventory model for high-tech items under demand disruption and price revision.…”

Section: Application Of Bct In the Supply Chain Systemmentioning

confidence: 99%

Blockchain-Based Inventory System considering Uncertain Carbon Footprints and Pandemic Effects

Mala,

Palanivel,

Priyan

2023

Discrete Dynamics in Nature and Society

View full text Add to dashboard Cite

The global supply chain has been severely impacted with the outbreak of COVID-19. The continuous supply of essential products in the post-COVID-19 world is a truly effective and strategic contest. The security and useability of inventory management are a main burden for industries along with the pressure from the government to fulfil the targets of net-zero economy in an uncertain circumstance. One of the most potential keys to these issues is an accurate demand forecasting process by blockchain technology. This article addresses a basic outline for blockchain-based supply chain (SC) and reveals how blockchain technology (BCT) can aid policymakers to cut carbon footprint during and postpandemic time in a fuzzy environment. This study fuzzifies all the carbon factors as intuitionistic triangular fuzzy numbers and uses a signed distance method to defuzzify the model. We consider that the retailer can embrace BCT to enhance demand forecasting. The planned scenario is modeled as an optimization problem to maximize the profit with low carbon emissions and suggest a solution method to solve it. A numerical example is also given to validate the model. We compare the optimal decisions of the SC with and without BCT. We discover that the pandemic and BCT have considerable influences on the optimal results. The study also shows that practitioners should exercise caution when developing operational strategies for maximizing profit with the least amount of carbon emissions during and postpandemic time.

show abstract

“…In practice, governments formulate proper carbon tax policies to restrain the production of products with high pollution and encourage the production of green products [ 1 , 2 ]. A higher carbon tax rate is proved to be beneficial from an environmental point of view [ 3 ]. As is well known, promoting the development of closed-loop supply chains is an effective approach to enhance the yield of green products.…”

Section: Introductionmentioning

confidence: 99%

Pricing strategies for new product and remanufactured product considering emission sensitive demand

Huang,

Lou,

Dai

et al. 2023

PLoS ONE

View full text Add to dashboard Cite

With the rapidly increasing concern on environmental pollution and resource shortage, remanufactured products attract many attentions. In order to determine the optimal production and pricing strategy, we construct decision models for both single-product market and mixed-product market. Consumers’ different preferences for new products and remanufactured products are considered. First, we construct pricing models for a single-product market, and achieve a judging condition to determine the optimal strategy. Second, we develop a pricing model for a multiple-product market and put forward a suppose to show that the multiple-product strategy is not always optimal. Finally, numerical illustrations are designed to examine the impacts of the two crucial factors and obtain the dominant regions for each strategy. By introducing an emission sensitive demand, we show the superiority of the remanufactured product when the extra demand attracted by the emission saving is large.

show abstract

Pricing strategy in an interval-valued production inventory model for high-tech products under demand disruption and price revision

Cited by 16 publications

References 17 publications

Modeling and simulating the multi-generation product sales, production and inventory system within the context of quality upgrades

Modeling and simulating the multi-generation product sales, production and inventory system within the context of quality upgrades

Blockchain-Based Inventory System considering Uncertain Carbon Footprints and Pandemic Effects

Pricing strategies for new product and remanufactured product considering emission sensitive demand

Contact Info

Product

Resources

About