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American Journal of Mathematical and Management Sciences Volume 30, 2010 - Issue 3-4
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Original Articles

An EOQ Model for Perishable Item with Stock Dependent Demand and Price Discount Rate

Shib Sankar SanaDepartment of Mathematics, Bhangar Mahavidyalaya, University of Calcutta, Bhangar-743502, 24PGS (South), West Bengal, India Email: [email protected]
Pages 299-316 | Published online: 06 Aug 2013
 
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SYNOPTIC ABSTRACT

The paper deals with a stock-dependent inventory model for perishable items in a supermarket. This type of items undergoes deterioration after a certain time that follows a probability distribution. The management of such business sector decides to stimulate the customer's demand by reducing the sales price. As a result, the demand function is an increasing function of reduction rate on sales price, in practice. The associated profit function is analyzed and maximized by calculus method. Finally, numerical examples with its sensitivity analysis are provided to test the model.

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