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This paper develops an economic order quantity model for deteriorating products that assumes price and stock depending demand. Shortages are permitted with partial backlogging. The proposed model focused on two things. The first one is the consideration of the fact that the deterioration rate can be reduced by the use of preservation technology investment and the second one is using the assumption that the unit purchase cost has a hostile bond with the order size to maximize the total profit. The idea of salvage/recover cost is considered and merged in this model. The solution technique of proposed optimization model is exemplified by a couple of numerical illustrations. Concavity of the average profit function is shown by plotting graphs. Sensitivity investigation is done to study the effect of changing the value of all parameters in the projected maximization model.

international journal of engineering research and technology

Effect of Price Concession Strategy and Preservation Technology on Inventory Model for Decaying Products with Partial Backlogging and Price-Stock-Dependent Demand