Journal of the Indonesian Mathematical Society
VOLUME 26 NUMBER 3 (NOVEMBER 2020)

Dynamic Pricing Policy Using Preservation Technology with Stock and Price Sensitive Demand

Khedlekar, Uttam Kumar (Unknown)
Singh, Priyanka (Unknown)
Gupta, Neelesh (Unknown)



Article Info

Publish Date
05 Nov 2020

Abstract

This paper aims to develop a dynamic pricing policy for deteriorating items with price and stock dependent demand. In declining market demand of items decreases with respect to time and also after a duration items get outdated. In this situation it needs a pricing policy to sale the items before end season. The proposed dynamic pricing policy is applicable for a limited period to clease the stock. Policy decision regarding the selling price could aggressively attracts the costumers. Objectives are to maximize the prot/revenue, pricing strategy and economic order level for such a stock dependent and price sensitive items. We are giving numerical example and simulation to illustrate the proposed model.

Copyrights © 2020






Journal Info

Abbrev

JIMS

Publisher

Subject

Mathematics

Description

Journal of the Indonesian Mathematical Society disseminates new research results in all areas of mathematics and their applications. Besides research articles, the journal also receives survey papers that stimulate research in mathematics and their ...