A stochastic EPLS model with random price sensitive demand / Monami Das Roy in International journal of management science and engineering management, Vol. 5 N° 6 (Décembre 2010)  

Public ISBD [article]  inInternational journal of management science and engineering management > Vol. 5 N° 6 (Décembre 2010) . - pp.465-472 Titre : A stochastic EPLS model with random price sensitive demand Type de document : texte imprimé Auteurs : Monami Das Roy, Auteur ; Shib Sankar Sana, Auteur ; Kripasindhu Chaudhuri, Auteur Année de publication : 2011 Article en page(s) : pp.465-472 Note générale : Management Langues : Anglais (eng) Mots-clés : Price-sensitive demand Shortage Inventory Random sales price Résumé : In real estate businesses, the price fluctuates due to the variation of a number of factors such as brokerage, inflation and time value of money etc. In this article we consider an stochastic EPLS (economic production lot size) model with price sensitive demand when the price is random in character. The model investigates a self manufacturing/finite replenishment rate with profit maximization problem for a single item over finite time horizon, allowing shortages. A general model is built up by taking production cost, holding cost, shortage cost and selling price into consideration. The general model is analyzed by considering three different distributions of selling price: uniform distribution, exponential distribution and linear distribution for showing the flexibility and utility of the model. Numerical examples are illustrated to test the proposed model. Sensitivity analysis is carried out. A comparative study between these three distributions has also been done DEWEY : 658 ISSN : 1750-9653 En ligne : http://www.ijmsem.org/OnlineJournal.do/?167.html [article] A stochastic EPLS model with random price sensitive demand [texte imprimé] / Monami Das Roy, Auteur ; Shib Sankar Sana, Auteur ; Kripasindhu Chaudhuri, Auteur . - 2011 . - pp.465-472. Management Langues : Anglais (eng) in International journal of management science and engineering management > Vol. 5 N° 6 (Décembre 2010) . - pp.465-472 Mots-clés : Price-sensitive demand Shortage Inventory Random sales price Résumé : In real estate businesses, the price fluctuates due to the variation of a number of factors such as brokerage, inflation and time value of money etc. In this article we consider an stochastic EPLS (economic production lot size) model with price sensitive demand when the price is random in character. The model investigates a self manufacturing/finite replenishment rate with profit maximization problem for a single item over finite time horizon, allowing shortages. A general model is built up by taking production cost, holding cost, shortage cost and selling price into consideration. The general model is analyzed by considering three different distributions of selling price: uniform distribution, exponential distribution and linear distribution for showing the flexibility and utility of the model. Numerical examples are illustrated to test the proposed model. Sensitivity analysis is carried out. A comparative study between these three distributions has also been done DEWEY : 658 ISSN : 1750-9653 En ligne : http://www.ijmsem.org/OnlineJournal.do/?167.html

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