Abstract
This paper considers an inventory model under a condition in which the retailer trades the new item to customers in addition to gathers and trades the used items. The situation is presumed that the quadratic demand rate is price dependent for deteriorating items. The return of used item as a price and linearly time-varying purpose and a price-dependent quadratic demand function are to be discussed. Furthermore, the effect of inflation is also taken into concern. The planned delinquent is expressed as a profit maximization problem for retailer. The objective is to bargain the optimal selling price, the new item’s optimal ordering quantity, and the used item’s optimal quantity concurrently such that the retailer’s aggregate profit is maximized. A numerical example is occupied to deliberate the sensitivity of the models.
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Acknowledgements
I am indebted to the University Grants Commission, New Delhi, India, for providing financial help in the form of JRF (F.16-6(Dec. 2016)/2017)
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Singh, S.R., Rana, K. (2020). Optimal Refill Policy for New Product and Take-Back Quantity of Used Product with Deteriorating Items Under Inflation and Lead Time. In: Kapur, P.K., Singh, O., Khatri, S.K., Verma, A.K. (eds) Strategic System Assurance and Business Analytics. Asset Analytics. Springer, Singapore. https://doi.org/10.1007/978-981-15-3647-2_36
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DOI: https://doi.org/10.1007/978-981-15-3647-2_36
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