Pricing and lot-sizing for continuously decaying items with stochastic demand A. V. Kitaeva, N. V. Stepanova, A. O. Zukovskaya
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ArticleSubject(s): стохастические модели управления запасами | Пуассона распределения | спросGenre/Form: статьи в журналах Online resources: Click here to access online
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IFAC-PapersOnLine Т. 50, № 1. P. 10160-10165Abstract: The paper is concerned with a stochastic inventory models for continuously deteriorating items with price dependent demand’s intensity, zero ending inventory, and non-zero lead time. We assume that demand process is a compound Poisson with continuous increments or is described by a Brownian motion process. The objective of this paper is to determine the selling price and lot-size maximizing the average profit per unit time for a lot size large enough. We prove that the main part of the mean cycle time as lot-size tends to infinity is the same as for deterministic demand. We obtain the equations for optimal lot-size and time varying selling price.
Библиогр.: с. 10165
The paper is concerned with a stochastic inventory models for continuously deteriorating items with price dependent demand’s intensity, zero ending inventory, and non-zero lead time. We assume that demand process is a compound Poisson with continuous increments or is described by a Brownian motion process. The objective of this paper is to determine the selling price and lot-size maximizing the average profit per unit time for a lot size large enough. We prove that the main part of the mean cycle time as lot-size tends to infinity is the same as for deterministic demand. We obtain the equations for optimal lot-size and time varying selling price.
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