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

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  • Umakanta Mishra
  • Jacobo Tijerina-Aguilera
  • Sunil Tiwari
  • Leopoldo Eduardo Cárdenas-Barrón

Abstract

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.

Suggested Citation

  • Umakanta Mishra & Jacobo Tijerina-Aguilera & Sunil Tiwari & Leopoldo Eduardo Cárdenas-Barrón, 2018. "Retailer’s Joint Ordering, Pricing, and Preservation Technology Investment Policies for a Deteriorating Item under Permissible Delay in Payments," Mathematical Problems in Engineering, Hindawi, vol. 2018, pages 1-14, February.
    • Handle: RePEc:hin:jnlmpe:6962417
    DOI: 10.1155/2018/6962417
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    Cited by:

    1. Ata Allah Taleizadeh & Nadia Pourmohammad-Zia & Ioannis Konstantaras, 2021. "Partial linked-to-order delayed payment and life time effects on decaying items ordering," Operational Research, Springer, vol. 21(3), pages 2077-2099, September.
    2. Wang, Chengfu & Chen, Xiangfeng & Jin, Wei & Fan, Xiaojun, 2022. "Credit guarantee types for financing retailers through online peer-to-peer lending: Equilibrium and coordinating strategy," European Journal of Operational Research, Elsevier, vol. 297(1), pages 380-392.
    3. Abu Hashan Md Mashud & Dipa Roy & Yosef Daryanto & Mohd Helmi Ali, 2020. "A Sustainable Inventory Model with Imperfect Products, Deterioration, and Controllable Emissions," Mathematics, MDPI, vol. 8(11), pages 1-21, November.

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