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Replenishment Policy for Deteriorating Items Under Price Discount

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Harmony Search and Nature Inspired Optimization Algorithms

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 741))

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Abstract

This paper deals with a single-item inventory model with constant rate of deterioration and shortage is not allowed. The stock-dependent and price-sensitive demand is considered. Price discount is provided to uplift the market sell also the preservation technology is applied to reduce deterioration. The objective of this paper is to obtain the optimal replenishment time, preservation technology investment, quantity, and profit. The model is illustrated by numerical examples and graphical analysis. Discount policy could help to any business organization for smooth running the business and obtain maximum profit.

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Author information

Authors and Affiliations

  1. Department of Mathematics and Statistics, Dr. Harisingh Gour Vishwavidyalaya (A Central University), Sagar, 470003, M.P., India

    Anubhav Namdeo & Uttam Kumar Khedlekar

Authors
  1. Anubhav Namdeo
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  2. Uttam Kumar Khedlekar
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Corresponding author

Correspondence to Anubhav Namdeo .

Editor information

Editors and Affiliations

  1. School of Engineering and Technology, BML Munjal University, Gurgaon, Haryana, India

    Neha Yadav

  2. Department of Sciences and Humanities, National Institute of Technology, Srinagar, Uttarakhand, India

    Anupam Yadav

  3. Department of Mathematics, South Asian University, New Delhi, India

    Jagdish Chand Bansal

  4. Department of Mathematics, Indian Institute of Technology Roorkee, Roorkee, Uttarakhand, India

    Kusum Deep

  5. School of Civil, Environmental and Architectural Engineering, Korea University, Seoul, Korea (Republic of)

    Joong Hoon Kim

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Namdeo, A., Khedlekar, U.K. (2019). Replenishment Policy for Deteriorating Items Under Price Discount. In: Yadav, N., Yadav, A., Bansal, J., Deep, K., Kim, J. (eds) Harmony Search and Nature Inspired Optimization Algorithms. Advances in Intelligent Systems and Computing, vol 741. Springer, Singapore. https://doi.org/10.1007/978-981-13-0761-4_38

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