Volume 27, Issue 2 (1-2009)                   JCME 2009, 27(2): 19-29 | Back to browse issues page

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Abstract:   (3501 Views)
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.
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Type of Study: Research | Subject: General
Received: 2014/10/25 | Published: 2009/01/15

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