Optimizing price, lot size and backordering level for products with imperfect quality, different holding costs and non-linear demand View Full Text


Ontology type: schema:ScholarlyArticle     


Article Info

DATE

2021-12-07

AUTHORS

Leopoldo Eduardo Cárdenas-Barrón, Osman Albert Marquez-Rios, Irene Sánchez-Romero, Buddhadev Mandal

ABSTRACT

This research work derives an EOQ inventory model with full backordering for imperfect quality products whose demand is nonlinear and depends on price. It is known that the lot received contains a portion of imperfect products which follows a known probability density function. Once the lot is received, immediately a 100% screening process is conducted with the objective of identifying the imperfect and perfect products and split them. The holding cost of perfect and imperfect items are different. The main purpose is to optimize jointly the lot size, the backordering level and the selling price in order to maximize an expected total profit. With the aim to validate and illustrate the proposed inventory model some numerical examples are solved. Finally, it is important to remark that the proposed inventory model is general model because this contains some inventory models previously published as particular cases. More... »

PAGES

48

References to SciGraph publications

  • 2021-04-10. The impact of system deterioration and product warranty on optimal lot sizing with maintenance and shortages backordered in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2020-10-10. An accurate and reliable mathematical analytic solution procedure for the EOQ model with non-instantaneous receipt under supplier credits in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2019-12-18. Optimal ordering policy in an economic order quantity (EOQ) model for non-instantaneous deteriorating items with defective quality and permissible delay in payments in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2017-06-21. Joint economic lot sizing model with stochastic demand and controllable lead-time by reducing ordering cost and setup cost in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2020-04-10. Optimal inventory policy in hospitals: a supply chain model in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2019-12-09. Mathematical analytic techniques and the complete squares method for solving an inventory modelling problem with a mixture of backorders and lost sales in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2017-04-04. A unified presentation of inventory models under quantity discounts, trade credits and cash discounts in the supply chain management in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • 2019-11-11. Some identities of extended degenerate r-central Bell polynomials arising from umbral calculus in REVISTA DE LA REAL ACADEMIA DE CIENCIAS EXACTAS, FÍSICAS Y NATURALES. SERIE A. MATEMÁTICAS
  • Identifiers

    URI

    http://scigraph.springernature.com/pub.10.1007/s13398-021-01181-6

    DOI

    http://dx.doi.org/10.1007/s13398-021-01181-6

    DIMENSIONS

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