Joint pricing and replenishment policy for deteriorating inventory with declining market

Article Abstract:

A deteriorating inventory model is proposed for establishing the relationship between the price, service level and replenishment policy adopted by business organizations for constantly deteriorating items. The model is used based on the assumption that the demand rate is a linear piece function and decreases negatively and exponentially with time. Results show that the price for such items remains stable despite variations in the back-ordering ratio.

Pricing

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Inventory models for fast moving spare parts subject to "sudden death" obsolescence

Article Abstract:

The proposed inventory models for fast-moving spare parts threatened by 'sudden death' obsolescence were found to be useful and practicable in inventory management applications. The resulting techniques and formulas seem to be simple and implementable when the obsolescence cost is insignificant unlike other parameters of cost. However, formula coefficients should regularly be updated because obsolescence risk varies over time.

Research, Production management, Depreciation, Spare parts

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