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Title: |
An Inventory Model of Life Circle Products Based on Discount Price and Reservation Sale |
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Source: |
International Conference on Engineering and Business Management 2012(Part 2 Enterprise Operation and Management（2）)
(pp 1110-1114)
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Author(s): |
Youjun Zhou, Department of Mathematics and Computer Science, Liuzhou Teachers College, Liuzhou, China |
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Abstract: |
This paper study inventory problem for perishable items of short life cycle of product under conditions that the supplier offers to discount price the retailer and the retailer adopt reservation sale policies, in which demand is interrelated with price and time and deteriorating rate is a constant and the reservation cancellation is allowed. An inventory model for optimization of price and cycle length of reservation sale is developed during life cycle of product in the article and the purpose of the present paper is to maximize total profit. Existence of optimal solution for the proposed model is analyzed, and then concrete steps of solving and numerical experiment are presented.
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