کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
1135855 | 956119 | 2011 | 11 صفحه PDF | دانلود رایگان |
Pricing is a major strategy for a retailer to obtain its maximum profit. Furthermore, under most market behaviors, one can easily find that a vendor provides a credit period (for example 30 days) for buyers to stimulate the demand, boost market share or decrease inventories of certain items. Therefore, in this paper, we establish a deterministic economic order quantity model for a retailer to determine its optimal selling price, replenishment number and replenishment schedule with fluctuating demand under two levels of trade credit policy. A particle swarm optimization is coded and used to solve the mixed-integer nonlinear programming problem by employing the properties derived in this paper. Some numerical examples are used to illustrate the features of the proposed model.
Research highlights
► Studied a deteriorating inventory system with fluctuating demand and trade credit financing.
► PSO is coded and used to solve the problem by employing the properties derived from this paper.
► The computational results indicated that the PSO algorithm offers acceptable efficiency and accurate search capability.
Journal: Computers & Industrial Engineering - Volume 60, Issue 1, February 2011, Pages 127–137