Title :
An Inventory Model of Deteriorating Items with Price Reduction Sale and Customers Waiting Time
Author :
Bo Huang ; Xiaojun Liu ; Zhang Tao
Author_Institution :
Sch. of Bus., Macau Univ. of Sci. & Technol., Taipa, China
Abstract :
This study proposes a new inventory model of deteriorating items with price reduction and backlog. In this paper, both pricing and backlog are considered. It proposes the solution procedure for the new model, and conducts one numerical example to verify the effectiveness of the new inventory model. Finally, it provides some potential issues for future research.
Keywords :
cost reduction; customer services; inventory management; pricing; backlog; customer waiting time; deteriorating items; inventory model; price reduction sale; pricing; Economics; Educational institutions; Information management; Logistics; Numerical models; Weibull distribution; Customers waiting time; Deteriorating Items; Inventory; Partial Backlogging; Price;
Conference_Titel :
Computational Sciences and Optimization (CSO), 2014 Seventh International Joint Conference on
Conference_Location :
Beijing
Print_ISBN :
978-1-4799-5371-4
DOI :
10.1109/CSO.2014.38
