Article ID: | iaor2009160 |
Country: | Cuba |
Volume: | 28 |
Issue: | 3 |
Start Page Number: | 191 |
End Page Number: | 196 |
Publication Date: | Sep 2007 |
Journal: | Revista de Investigacin Operacional |
Authors: | Shah Nita H., Gor Ajay S., Gujarathi C.C. |
Keywords: | inventory |
An inventory model is developed under different marketing policies using the concept of variable markup when units in inventory are subject to deterioration, quantity discounts are offered and quantity received is a random variable. The effect of deterioration of units and various parameters on optimum markup and procurement quantity is studied. The model derived is supported with a numerical example.