Optimal Price and Lot Size for an EOQ Model with Full Backordering under Power Price and Time Dependent Demand

Optimal Price and Lot Size for an EOQ Model with Full Backordering under Power Price and Time Dependent Demand

In this paper, we address an inventory system where the demand rate multiplicatively combines the effects of time and selling price. It is assumed that the demand rate is the product of two power functions, one depending on the selling price and the other on the time elapsed since the last inventory...

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Bibliographic Details
Main Authors: Luis A. San-José, Joaquín Sicilia, Manuel González-de-la-Rosa, Jaime Febles-Acosta
Format: Article
Language:English
Published: MDPI AG 2021-08-01
Series:Mathematics
Subjects:
EOQ inventory model
shortages
lot sizing
optimal pricing
profit maximization
Online Access:https://www.mdpi.com/2227-7390/9/16/1848

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