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Developing a partial backlogging deteriorating inventory model with selling price dependant demand rate and cycle length dependant selling price

Haji, A. ; Sabahno, H. LU orcid and Haji, R. (2008) 2008 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2008 In 2008 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2008 p.198-202
Abstract

In this paper, we develop an inventory model with price dependant demand rate, under time value of money and inflation, finite time horizon, exponential backlogging rate and exponential deterioration rate with the objective of maximizing the present worth of the total system profit. Using a dynamic programming based solution algorithm, we are able to find the optimal sequence of the cycles and also to obtain different optimal selling prices and optimal order quantities for the cycles with unequal lengths, which have never been done before for our model. We also use a proper numerical example to show accuracy of the solution procedure.

Please use this url to cite or link to this publication:
author
; and
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
keywords
Dynamic programming, Inventory control, Partial backlogging
host publication
2008 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2008
series title
2008 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2008
article number
4737859
pages
5 pages
publisher
IEEE Press
conference name
2008 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2008
conference location
Singapore, Singapore
conference dates
2008-12-08 - 2008-12-11
external identifiers
  • scopus:62749166999
ISBN
9781424426300
DOI
10.1109/IEEM.2008.4737859
language
English
LU publication?
no
id
66acf9d2-1d8e-4d4c-8b0d-7bcf78f9b50a
date added to LUP
2025-03-20 12:19:14
date last changed
2025-03-20 14:02:07
@inproceedings{66acf9d2-1d8e-4d4c-8b0d-7bcf78f9b50a,
  abstract     = {{<p>In this paper, we develop an inventory model with price dependant demand rate, under time value of money and inflation, finite time horizon, exponential backlogging rate and exponential deterioration rate with the objective of maximizing the present worth of the total system profit. Using a dynamic programming based solution algorithm, we are able to find the optimal sequence of the cycles and also to obtain different optimal selling prices and optimal order quantities for the cycles with unequal lengths, which have never been done before for our model. We also use a proper numerical example to show accuracy of the solution procedure.</p>}},
  author       = {{Haji, A. and Sabahno, H. and Haji, R.}},
  booktitle    = {{2008 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2008}},
  isbn         = {{9781424426300}},
  keywords     = {{Dynamic programming; Inventory control; Partial backlogging}},
  language     = {{eng}},
  pages        = {{198--202}},
  publisher    = {{IEEE Press}},
  series       = {{2008 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2008}},
  title        = {{Developing a partial backlogging deteriorating inventory model with selling price dependant demand rate and cycle length dependant selling price}},
  url          = {{http://dx.doi.org/10.1109/IEEM.2008.4737859}},
  doi          = {{10.1109/IEEM.2008.4737859}},
  year         = {{2008}},
}