International Journal of Systems Science
Price determination for an EOQ model for deteriorating items under perfect competition
Computers & Mathematics with Applications
Journal of Computational and Applied Mathematics
Inventory model for seasonal demand with option to change the market
Computers and Industrial Engineering
Computers and Industrial Engineering
An EOQ model with stock and price sensitive demand
Mathematical and Computer Modelling: An International Journal
Expert Systems with Applications: An International Journal
Computers and Industrial Engineering
Proceedings of the Winter Simulation Conference
Proceedings of the Winter Simulation Conference
Economic production quantity models for deteriorating/imperfect products and service with rework
Computers and Industrial Engineering
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Large piles of consumer goods displayed in a supermarket are often associated with on sale items to induce more sales and profits. In this paper, we first establish an economic production quantity (or EPQ) model for deteriorating items when the demand rate depends not only the on-display stock level but also the selling price per unit. In addition, we impose a ceiling on the number of on-display stocks because too much stock leaves a negative impression on the buyer and the amount of shelf/display space is limited. We then provide the necessary conditions to determine an optimal solution that maximizes profits for the EPQ model. Finally, sensitivity analysis is applied on the parameter effects of the optimal price and production run time.