Inventory policy for deteriorating seasonal products with price and ramp-type time dependent demand

In this paper, we investigate the problem of simultaneously determining the order quantity and optimal prices for deteriorating products with price and ramp-type time dependent demand. We assume that a retailer has the opportunity to adjust prices before the end of the sales season to increase demand, decrease deterioration, and improve revenues. A mathematical model is developed to jointly optimize the order quantity, time interval for any two successive price changes, and the corresponding prices. An algorithm is provided to find the optimal solution to the proposed model. Finally, we use a numerical example to verify the availability of this model