Pricing and inventory control policy for non-instantaneous deteriorating items with time- and price-dependent demand and partial backlogging

Determining the optimal inventory control and selling price for deteriorating items is of great significance. In this paper, a joint pricing and inventory control model for deteriorating items with price- and time-dependent demand rate and time-dependent deteriorating rate with partial backlogging is considered. The objective is to determine the optimal price, the replenishment time, and economic order quantity such that the total profit per unit time is maximized. After modeling the problem, an algorithm is proposed to solve the resulted problem. We also prove that the problem statement is concave function and the optimal solution is indeed global

Genetic algorithm to optimize two-echelon inventory control system for perishable goods in terms of active packaging

This paper considers an inventory control policy for a two-echelon inventory control system with one supplier-one buyer. We consider the case of deteriorating items which lead to shortage in supply chain. Therefore, it is necessary to decrease the deterioration rate by adding some specification to the packaging of these items that is known as active packaging. Although this packaging can reduce the deteriorating rate of products, but may be increases the cost of both supplier and buyer. Because of the complexity of the mathematical model, a genetic algorithm has been developed to determine the best policy of this inventory control system

Inventory control with deteriorating items: A state-of-the-art literature review

The present study reviews different studies on inventory control of deteriorating items in chain supply published over the period 1963- 2013. The study investigates supply chain of the items in terms of various perspectives. Finally, the summary of the studies is shown in two tables for one-echelon and multi-echelon supply chain including the main information and assumptions of each paper. In the mentioned tables, the papers were classified in terms of the type of demand rate, deterioration rate, solution procedure and findings. It can be said that no analysis on the results was done in the present study and it can be only used as a good reference in the study field for other researchers