In this paper, we present an inventory model with stock-dependent demand and deteriorating inventory. It is assumed that the deterioration rate follows a three-parameter Weibull distribution. The strategy of offering discounts in the selling price to boost demand is studied. The optimal discount...

Deterioration is defined as decay, damage, spoilage, evaporation, obsolescence, pilferage, and loss of utility or loss of marginal value of a commodity that reduces usefulness from original ones. Blood, fish, fruits and vegetables, alcohol, gasoline, radioactive chemicals, medicines, etc., lose...

In this paper, a closed-loop logistics system with manufacturing and remanufacturing cycle is analyzed using three optimization methods. They are: (i) sequential optimization, (ii) centralized optimization without benefit sharing, and (iii) centralized optimization with benefit sharing. In the...

The objective of this study is to develop a deteriorating inventory policy when the retailer invests on the preservation technology to reduce the rate of product deterioration. A solution procedure is presented to determine an optimal replenishment cycle, shortage period, order quantity and...