Product replacement policy in a production inventory model with replacement period-, stock-, and price-dependent demand
Summary: In the competitive market situation, several companies confer various types of incentives and facilities during product sell to their customers with certain terms and conditions. For the products such as mobile, TV, water purifiers, marshal products, and many more, its corresponding companies offer replacement facility during the guarantee period to enhance the customers' demand. In this study, we have formulated a production inventory model with considering product's replacement facility of the failure product within guarantee periods to their customers. This work also leads two vital assumptions: (i) customers' demand is depending on the replacement period, stock level, and selling price of the product and (ii) the rate of replacement loss of manufacturer's capital is dependent on the replacement period, and it is a nonlinear function. Since the corresponding optimization problem is highly nonlinear, we have solved it by MATHEMATICA software. The concavity of the centre of interval-valued average profit of the proposed model is shown graphically. In order to justify the validity of the proposed model, a numerical example is considered and solved. Finally, the sensitivity analyses are carried out with respect to the different model parameters.
- Pricing and inventory policies for hi-tech products under replacement warranty
- Managing the inventory of an item with a replacement warranty
- An integrated production-inventory deteriorating model for pricing policy considering imperfect production, inspection planning and warranty-period- and stock-level-dependant demand
- An inventory model with substitution
- A single period production inventory model in interval environment with price revision
- A fuzzy imperfect production and repair inventory model with time dependent demand, production and repair rates under inflationary conditions
- A single-period inventory model with fuzzy demand
- A study of inflation effects on an EOQ model for Weibull deteriorating/ameliorating items with ramp type of demand and shortages
- An economic production lot size model for defective items with stochastic demand, backlogging and rework
- An economic production lot size model in an imperfect production system
- An economic production quantity inventory model involving fuzzy demand rate and fuzzy deterioration rate.
- Economic production quantity (EPQ) inventory model for a deteriorating item with a two-level trade credit policy and allowable shortages
- Economic production quantity for fuzzy demand quantity and fuzzy production quantity
- Economic production quantity model with repair failure and limited capacity
- Economic production quantity models for deteriorating items with price- and stock-dependent demand
- Effect of inspection errors on imperfect production inventory model with warranty and price discount dependent demand rate
- Integrated production inventory model with variable production rate on quality of products involving probabilistic defective under variable setup cost
- Integrated production-inventory models with imperfect production processes and a limited capacity for raw materials
- On a General Solution of the Deterministic Lot Size Problem with Time-Proportional Demand
- Replacement and inventory control for a multi-customer product service system with decreasing replacement costs
- A sustainable production inventory model for profit maximization under optimum raw material input rate during production
- A new approach based on inventory control using interval differential equation with application to manufacturing system
- A production inventory model to study the supply chain of agri-product for a time reliant population
- scientific article; zbMATH DE number 7581823 (Why is no real title available?)
- Pricing and inventory policies for hi-tech products under replacement warranty
- Impact of emission and service constraint for an imperfect production system under two level Hamiltonian
- A sustainable retailer's inventory model to study the partial replacement for deteriorating items with variable shelf-life
- Optimum pricing decision for the retailer with warranty and price-dependent variable demand
- A three-warehouse inventory model for deteriorating items to study the effective preservation cost and green investment under partial substitution
This page was built for publication: Product replacement policy in a production inventory model with replacement period-, stock-, and price-dependent demand
Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q1983373)
