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An integrated inventory system for perishable goods with backordering

โœ Scribed by Wenhong Luo

Publisher
Elsevier Science
Year
1998
Tongue
English
Weight
309 KB
Volume
34
Category
Article
ISSN
0360-8352

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โœฆ Synopsis

AbstractรWe present an integrated inventory model for perishable goods in which backorder is allowed. The model considers the impact of marketing strategies such as pricing and advertising as well as backorder decisions on the proยฎtability of the system. We assume that for certain perishable products, it is feasible for managers to plan for periods of shortage during an inventory cycle. A computer program is developed to determine the optimal production quantity (EPQ) and backorder level that maximize the net proยฎt of the system. A numerical example is used to study the behavior of the model.

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