This study proposes a continuous production inventory model for deteriorating items with preservation technology, rework and price-dependent demand under markdown policy. In this study, we have adopted the markdown policy to reduce inventory cost and clearance at the end of the season or to sell old or slow-moving inventory at the end of its life. Rework is another main factor to reduce production cost and environmental problem. The preservation technology is also considered during product deterioration period to control the deterioration rate of products. The shortages are not allowed. We have also considered that in one cycle, the production system can produce items in several determined replenishment cycles under markdown policy. The aim of this research is to derive the optimal production-run time, the optimal replenishment cycle length, the optimal length of time horizon and the optimal production quantity so as to minimize the total average cost. An example and sensitivity analysis is shown to illustrate the model.
The Journal of Analysis – Springer Journals
Published: Jun 6, 2018
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera