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Hiwa Farughi

Hiwa Farughi

Academic rank: Professor
ORCID: 0000-0001-9745-9691
Education: PhD.
ScopusId: 54789623500
Faculty: Faculty of Engineering
Address:
Phone: 08733660073

Research

Title
Pricing and inventory control policy for non-instantaneous deteriorating items with time- and price-dependent demand and partial backlogging
Type
JournalPaper
Keywords
Pricing-Inventory control-Partial backlogging-Perishable items
Year
2014
Journal Decision Science Letters
DOI
Researchers Hiwa Farughi ، Narges Khanlarzadeh ، Babak yousefi yegane

Abstract

Determining the optimal inventory control and selling price for deteriorating items is of great significance. In this paper, a joint pricing and inventory control model for deteriorating items with price- and time-dependent demand rate and time-dependent deteriorating rate with partial backlogging is considered. The objective is to determine the optimal price, the replenishment time, and economic order quantity such that the total profit per unit time is maximized. After modeling the problem, an algorithm is proposed to solve the resulted problem. We also prove that the problem statement is concave function and the optimal solution is indeed global.