A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand
production, deterioration, multiple market, price dependent demand
Abstract
This paper presents an inventory model for deteriorating items that have a single manufacturer but multiple market demands for a finite planning horizon. For the market, different selling seasons are considered. It is a production inventory model, which has a demand rate dependent on the selling price. Here, we have presented a solution-search procedure to find the optimal replenishment policy for raw material and optimal production time. The model is illustrated using a numerical example. Further; sensitivity analysis is also performed to check the stability of the model.
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2017-01-19
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