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A lot size inventory model for the Weibull distributed deterioration rate with discounted selling price and stock-dependent demand

  • Nita H. Shah
  • Bhavin J. Shah
  • H.M. Wee
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    In this paper, we present an inventory model with stock-dependent demand and deteriorating inventory. It is assumed that the deterioration rate follows a three-parameter Weibull distribution. The strategy of offering discounts in the selling price to boost demand is studied. The optimal discount in the selling price to maximise profit and the effects of deterioration on the optimal solution are the foci of this study. A numerical example and sensitivity analysis are carried out to validate the theory.

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    Article provided by Inderscience Enterprises Ltd in its journal Int. J. of Data Analysis Techniques and Strategies.

    Volume (Year): 1 (2009)
    Issue (Month): 4 ()
    Pages: 355-363

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    Handle: RePEc:ids:injdan:v:1:y:2009:i:4:p:355-363
    Contact details of provider: Web page: http://www.inderscience.com/browse/index.php?journalID=282

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