| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 496368 | Applied Soft Computing | 2012 | 8 Pages |
The aim of this article is presenting a new constrained multi-product pricing and inventory model in which perishable products are put into three categories: substitute, complementary and independent. The general demand is found by considering the relations of different products and the impact of their prices. The goal of the model is deciding on the prices as well as the inventory and production decisions in order to maximize the total profit. The derived model is a non-linear programming model and a genetic algorithm is developed for its solution. To enhance the performance of our genetic algorithm, we apply the Taguchi experimental design method to tune the parameters of the algorithm. Finally, the computational results and some recommendations for future extensions are presented.
Graphical abstractFigure optionsDownload full-size imageDownload as PowerPoint slideHighlights► We present a new model of pricing and lot sizing problem with multiple products. ► We consider the different types of products in three categories of dependent, substitute and complementary products. ► A genetic algorithm tuned with ANOVA is presented to solve the model and experimental results are discussed.
