Karaöz, Murat Suleyman Demirel University - Faculty of Economics and Administrative Sciences, Turkey , Eroğlu, Abdullah Suleyman Demirel University - Faculty of Economics and Administrative Sciences, Turkey , Sütçü, Abdullah Suleyman Demirel University - Department of Forest Product Engineering, Turkey , Sulak, Harun Suleyman Demirel University - Department of Industrial Engineering, Turkey

AN EOQ MODEL WITH PRICE AND TIME DEPENDENT DEMAND UNDER THE INFLUENCE OF COMPLEMENT AND SUBSTITUTE PRODUCT’S SELLING PRICES

27397

Demand for a product is affected by its own selling price. In many situations it has also been affected by its Complement’s as well as substitute’s selling prices. This effect can be observed in many retailed items all over the markets. In this paper, we developed finite replenishment inventory model while considering that demand is sensitive to changes in time, its selling price and prices of complementary and substitute good’s. Numerical example and sensitivity analysis have been performed for demand equation parameters.

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EOQ , inventory , selling price , substitute good , complement good

Afyon Kocatepe University Journal Of Economics an‎d Administrative Sciences

116