Inventory model with pricing tactics for demand in auto-correlated products

Inventory model with pricing tactics for demand in auto-correlated products

It is commonly observed that the demand rates of many consumer goods are auto-correlated and are dependent on the selling price and amount of inventory displayed. The effects of dependency and auto-correlated demand are studied under a periodic review model. In this paper, an adaptive order-up-to po...

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Veröffentlicht in:International journal of advanced manufacturing technology 2011-02, Vol.52 (5-8), p.833-840
Hauptverfasser: Uthayakumar, Ramasamy, Parvathi, P.
Format: Artikel
Sprache:eng
Schlagworte:
Autocorrelation
CAE) and Design
Computer-Aided Engineering (CAD
Consumer goods
Correlation analysis
Demand
Dependence
Engineering
Industrial and Production Engineering
Inventory management
Mathematical models
Mechanical Engineering
Media Management
Original Article
Tactics
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Beschreibung
Zusammenfassung:It is commonly observed that the demand rates of many consumer goods are auto-correlated and are dependent on the selling price and amount of inventory displayed. The effects of dependency and auto-correlated demand are studied under a periodic review model. In this paper, an adaptive order-up-to policy based on the critical fractile is presented and a solution procedure is given. The numerical example illustrates the main characteristics of this model and the causes of this demand pattern on the safety stock.
ISSN:0268-3768
1433-3015
DOI:10.1007/s00170-010-2755-7