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Joint pricing and inventory decisions for perishable products with age-, stock-, and price-dependent demand rate

Author

Listed:
  • Maher Agi

    (ESC [Rennes] - ESC Rennes School of Business)

  • Hardik Soni

Abstract

This article presents a deterministic model for jointly optimising pricing and inventory control of a perishable product subject to both physical deterioration and freshness condition degradation. The demand for the product depends on its price, the current inventory level and the freshness condition. Our model allows for any positive amount of end-of-cycle inventory. Conditions for the existence and uniqueness of an optimal solution of the model are developed and an algorithm is suggested to find the optimal values of the price, the cycle length, the order quantity, and the end-of-cycle inventory. Then, numerical examples are given, and sensitivity analysis is performed. Our study contributes to satisfying the need for inventory models that consider simultaneous physical deterioration and freshness degradation of perishable products along with price-, age- and stock-dependent demand.

Suggested Citation

  • Maher Agi & Hardik Soni, 2019. "Joint pricing and inventory decisions for perishable products with age-, stock-, and price-dependent demand rate," Post-Print hal-02014642, HAL.
  • Handle: RePEc:hal:journl:hal-02014642
    as

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    Cited by:

    1. Xuefei Shi & Haiyan Wang, 2022. "Design of the cost allocation rule for joint replenishment to an overseas warehouse with a piecewise linear holding cost rate," Operational Research, Springer, vol. 22(5), pages 4905-4929, November.

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