Optimal batch production strategies under continuous price decrease and time discounting
Single price discount in unit cost for bulk purchasing is quite common in reality as well as in inventory literature. However, in today's high-tech industries such as personal computers and mobile industries, continuous decrease in unit cost is a regular phenomenon. In the present paper, an att...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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University of Belgrade
2007-01-01
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| Series: | Yugoslav Journal of Operations Research |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0354-0243/2007/0354-02430702165M.pdf |
| _version_ | 1811265663728091136 |
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| author | Mandal S. Giri B.C. Chaudhuri K.S. |
| author_facet | Mandal S. Giri B.C. Chaudhuri K.S. |
| author_sort | Mandal S. |
| collection | DOAJ |
| description | Single price discount in unit cost for bulk purchasing is quite common in reality as well as in inventory literature. However, in today's high-tech industries such as personal computers and mobile industries, continuous decrease in unit cost is a regular phenomenon. In the present paper, an attempt has been made to investigate the effects of continuous price decrease and time-value of money on optimal decisions for inventoried goods having time-dependent demand and production rates. The proposed models are developed over a finite time horizon considering both shortages and without shortages in inventory. Numerical examples are taken to illustrate the developed models and to examine the sensitivity of model parameters. |
| first_indexed | 2024-04-12T20:28:03Z |
| format | Article |
| id | doaj.art-37ee074fccd24839ab4ae76fffd04b36 |
| institution | Directory Open Access Journal |
| issn | 0354-0243 1820-743X |
| language | English |
| last_indexed | 2024-04-12T20:28:03Z |
| publishDate | 2007-01-01 |
| publisher | University of Belgrade |
| record_format | Article |
| series | Yugoslav Journal of Operations Research |
| spelling | doaj.art-37ee074fccd24839ab4ae76fffd04b362022-12-22T03:17:49ZengUniversity of BelgradeYugoslav Journal of Operations Research0354-02431820-743X2007-01-0117216517510.2298/YJOR0702165MOptimal batch production strategies under continuous price decrease and time discountingMandal S.Giri B.C.Chaudhuri K.S.Single price discount in unit cost for bulk purchasing is quite common in reality as well as in inventory literature. However, in today's high-tech industries such as personal computers and mobile industries, continuous decrease in unit cost is a regular phenomenon. In the present paper, an attempt has been made to investigate the effects of continuous price decrease and time-value of money on optimal decisions for inventoried goods having time-dependent demand and production rates. The proposed models are developed over a finite time horizon considering both shortages and without shortages in inventory. Numerical examples are taken to illustrate the developed models and to examine the sensitivity of model parameters.http://www.doiserbia.nb.rs/img/doi/0354-0243/2007/0354-02430702165M.pdfinventorycontinuous price changetime value of moneyshortage |
| spellingShingle | Mandal S. Giri B.C. Chaudhuri K.S. Optimal batch production strategies under continuous price decrease and time discounting Yugoslav Journal of Operations Research inventory continuous price change time value of money shortage |
| title | Optimal batch production strategies under continuous price decrease and time discounting |
| title_full | Optimal batch production strategies under continuous price decrease and time discounting |
| title_fullStr | Optimal batch production strategies under continuous price decrease and time discounting |
| title_full_unstemmed | Optimal batch production strategies under continuous price decrease and time discounting |
| title_short | Optimal batch production strategies under continuous price decrease and time discounting |
| title_sort | optimal batch production strategies under continuous price decrease and time discounting |
| topic | inventory continuous price change time value of money shortage |
| url | http://www.doiserbia.nb.rs/img/doi/0354-0243/2007/0354-02430702165M.pdf |
| work_keys_str_mv | AT mandals optimalbatchproductionstrategiesundercontinuouspricedecreaseandtimediscounting AT giribc optimalbatchproductionstrategiesundercontinuouspricedecreaseandtimediscounting AT chaudhuriks optimalbatchproductionstrategiesundercontinuouspricedecreaseandtimediscounting |