Department of Mathematics, V.R.A.L. Government Girls Degree College, Bareilly, Uttar Pradesh, India
JournalPIJST
Volume / Issue1 / 2
Pages72–91
Published29 Feb 2024
Paper IDPIJST12F24007
Views / Downloads1 / 0
Article summary
Abstract
Selling price and purchase cost typically vary with economic conditions in today’s competitive markets. For a business to be profitable, both the selling price and the purchasing cost are essential. As a result, I expand the inventory model Teng and Yang (2004) established in this study to incorporate the ability for both the selling price and the purchasing cost to fluctuate over the course of a defined time horizon between replenishment cycles. The goal is to determine the best pricing strategy and replenishment schedule in order to maximise profit. The existence, uniqueness, and global optimality of the suggested solution are guaranteed by the conditions that lead to a maximising solution. Some theoretical results and an effective approach for solving the problem are offered. Finally,numerical examples for illustration and sensitivity analysis for managerial decision making arealso performed.
Ravendra Kumar (2024). An Inventory Model with Partial Backlog for Declining Items with Varying Selling and Purchasing Prices. Procedure International Journal of Science and Technology, 1(2), 72–91. https://www.pijst.com/article/pijst12f24007/an-inventory-model-with-partial-backlog-for-declining-items-with-varying-selling-and-purchasing-prices
Ravendra Kumar. “An Inventory Model with Partial Backlog for Declining Items with Varying Selling and Purchasing Prices.” Procedure International Journal of Science and Technology, vol. 1, no. 2, 2024, pp. 72–91. https://www.pijst.com/article/pijst12f24007/an-inventory-model-with-partial-backlog-for-declining-items-with-varying-selling-and-purchasing-prices
Ravendra Kumar. “An Inventory Model with Partial Backlog for Declining Items with Varying Selling and Purchasing Prices.” Procedure International Journal of Science and Technology 1, no. 2 (2024): 72–91. https://www.pijst.com/article/pijst12f24007/an-inventory-model-with-partial-backlog-for-declining-items-with-varying-selling-and-purchasing-prices
Ravendra Kumar (2024) ‘An Inventory Model with Partial Backlog for Declining Items with Varying Selling and Purchasing Prices’, Procedure International Journal of Science and Technology, 1(2), pp. 72–91. Available at: https://www.pijst.com/article/pijst12f24007/an-inventory-model-with-partial-backlog-for-declining-items-with-varying-selling-and-purchasing-prices.
Ravendra Kumar, “An Inventory Model with Partial Backlog for Declining Items with Varying Selling and Purchasing Prices,” Procedure International Journal of Science and Technology, vol. 1, no. 2, pp. 72–91, 2024. https://www.pijst.com/article/pijst12f24007/an-inventory-model-with-partial-backlog-for-declining-items-with-varying-selling-and-purchasing-prices.
Ravendra Kumar. An Inventory Model with Partial Backlog for Declining Items with Varying Selling and Purchasing Prices. Procedure International Journal of Science and Technology. 2024;1(2):72–91. https://www.pijst.com/article/pijst12f24007/an-inventory-model-with-partial-backlog-for-declining-items-with-varying-selling-and-purchasing-prices.
Ravendra Kumar. An Inventory Model with Partial Backlog for Declining Items with Varying Selling and Purchasing Prices. Procedure International Journal of Science and Technology 2024, 1 (2), 72–91. https://www.pijst.com/article/pijst12f24007/an-inventory-model-with-partial-backlog-for-declining-items-with-varying-selling-and-purchasing-prices.
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