IDEAS home Printed from https://ideas.repec.org/a/ids/ijores/v50y2024i2p148-169.html
   My bibliography  Save this article

Pricing and ordering strategy for new product and buyback strategy for used product from retailer's point

Author

Listed:
  • Dharmesh K. Katariya
  • Kunal T. Shukla

Abstract

Today environmental spectrums are much considered while purchasing a new product because of global awareness about sustainability of environment, hence an interest for use of restored products has increased. The retailer is a decision-maker; retailer sells a new product to the consumers and collects the used sold products for reselling. In this deteriorating inventory model, the demand rate of new products is a nonlinear function and demand rate of used buyback products is linear function of selling price and time-dependent respectively. Shortages are allowed and the unsatisfied demand is partially backlogged. The objective is to maximise total profit per time unit for a retailer concerning to optimise selling price, order quantity for a new product, and quantity of used buyback products simultaneously. Global optimality is verified by Hessian matrix method and graphically. This model is explained through a numerical example, sensitivity analysis, and managerial insights. Ultimately, some concluding remarks with future scopes are discussed.

Suggested Citation

  • Dharmesh K. Katariya & Kunal T. Shukla, 2024. "Pricing and ordering strategy for new product and buyback strategy for used product from retailer's point," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 50(2), pages 148-169.
    • Handle: RePEc:ids:ijores:v:50:y:2024:i:2:p:148-169
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=138923
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijores:v:50:y:2024:i:2:p:148-169. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=170 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.