Search

In this paper, we consider the problem of determining the optimal replenishment policy for deteriorating items with variable selling prices under stock-dependent demand, in order to match realistic circumstances. The inventory problem of this study includes without shortages as well as complete backlogging models. A theoretical analysis of the existence and uniqueness of the optimal solutions without shortages and with complete backlogging is presented. Numerical examples of the parameters are also presented to illustrate these two models. Finally, we compare the optimal solutions without shortages to those with complete backlogging. [ABSTRACT FROM AUTHOR]