Abstract
Owing to intense technological growth and extreme global competition, demand of a newly launched hi-tech item may decrease over time because some better quality items may be available in the marketplace at the same or lower price. This situation pushes the manufacturers to reduce selling price so that demand of that item may increase. If a particular product is not available, competitive market motivates customers to switch to another organisation for similar type of products. Keeping all these things in mind, we have developed an EOQ type model for time and selling price dependent demand, decreasing selling price and partial backlogging. We have formulated the mathematical model, and the procedures to derive the optimal solution are discussed. The effectiveness of the proposed model is illustrated with the help of numerical examples. Sensitivity of the optimal order quantity and optimal cost for changes in various parameter values are also examined.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Supply Chain and Inventory Management
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
