Price-sensitive demand for perishable items – an EOQ model

• Published in: Applied mathematics and computation Vol. 217; no. 13; pp. 6248 - 6259
• Main Author: Sankar Sana, Shib
• Format: Journal Article
• Language: English
• Published: Amsterdam Elsevier Inc 01.03.2011; Elsevier
• Subjects: Calculus of variations and optimal control; Computation; Demand; Deterioration; Economics; EOQ; Exact sciences and technology; Finite horizon; Inventory; Marketing; Mathematical analysis; Mathematical models; Mathematics; Numerical analysis; Numerical analysis. Scientific computation; Optimization; Price-sensitive demand; Profit; Sales; Sciences and techniques of general use; Sensitivity analysis; Finite horizon; Profit; Deterioration; Price-sensitive demand; EOQ; Inventory; Numerical analysis; Sensitivity analysis; Economic model; Applied mathematics; Optimal solution; Ordering

This paper develops a finite time-horizon deterministic EOQ ( Economic Order Quantity) model where the rate of demand decreases quadratically with selling price. Prices at different periods are considered as decision variables. The objective is to find the optimal ordering quantity and optimal sales...