%0 Journal Article
%A M. Rabbani,
%A R. Tavakkoli-Moghaddam,
%A and H. Vahdan,
%T A New Inventory Model for Deteriorating Items with Price-dependent Demand, Time-value of money, and Shortages
%J Journal of Advanced Materials In Engineering
%V 27
%N 2
%U http://jame.iut.ac.ir/article-1-449-en.html
%R
%D 2009
%K Time-value of money, Back-order demand, Lost-sales, Present value of profits,
%X This paper presents a discounted cash-flow approach to an inventory model for deteriorating items with the
two-parameter Weibull distribution. According to our proposed model, two shortages are considered: back-orders and lost-sales,
in which the back-order rate is a varying function of the time when the shortage happens. In general, the demand rate is a linear function of the selling price. The objective of this model is to determine the optimal pricing policy and the optimal throughput time in such a way that the total net present value of profits is maximized in the given planning horizon. Finally, a numerical example is provided to solve the model presented using our proposed three-stage approach.
%> http://jame.iut.ac.ir/article-1-449-en.pdf
%P 19-29
%& 19
%!
%9 Research
%L A-10-2-428
%+
%G eng
%@ 2251-600X
%[ 2009