A note on ‘a replenishment policy for items with price-dependent demand, time-proportional deterioration and no shortages’

Abstract

In a recent paper, Begum et al. (2012, International Journal of Systems Science, 43, 903–910) established pricing and replenishment policy for an inventory system with price-sensitive demand rate, time-proportional deterioration rate which follows three parameters, Weibull distribution and no shortages. In their model formulation, it is observed that the retailer's stock level reaches zero before the deterioration occurs. Consequently, the model resulted in traditional inventory model with price sensitive demand rate and no shortages. Hence, the main purpose of this note is to modify and present complete model formulation for Begum et al. (2012). The proposed model is validated by a numerical example and the sensitivity analysis of parameters is carried out.