DocumentCode
3465654
Title
Study of EOQ model in deteriorating items with price reduction sale and permissible shortage
Author
Huajun Tang ; Bo Huang
Author_Institution
Fac. of Manage. & Adm., Macau Univ. of Sci. & Technol., Macau, China
fYear
2013
fDate
28-30 June 2013
Firstpage
1
Lastpage
4
Abstract
This study focuses on the single-cycle stock replenishment strategies of perishable merchandise with price reduction, in which the stock shortage is permissible. It proposes a new Economic Order Quantity (EOQ) model, and conducts one numerical example to show the effectiveness of the new EOQ model. Finally, it provides some potential issues for future research.
Keywords
pricing; sales management; EOQ model; deteriorating items; economic order quantity; perishable merchandise; permissible shortage; price reduction; price reduction sale; single cycle stock replenishment strategies; stock shortage; Computational modeling; Educational institutions; Equations; Industrial economics; Mathematical model; Operations research; Weibull distribution; EOQ; deterioration items; price reduction; shortage quantity;
fLanguage
English
Publisher
ieee
Conference_Titel
Engineering, Management Science and Innovation (ICEMSI), 2013 International Conference on
Conference_Location
Taipa
Type
conf
DOI
10.1109/ICEMSI.2013.6913999
Filename
6913999
Link To Document