Paper Info
Title
An EPQ model with price discounted promotional demand in an imprecise planning horizon via Genetic Algorithm
Abstract
An economic production quantity (EPQ) model for a newly launched product is developed in an imprecise planning horizon, i.e., lifetime of the product is fuzzy in nature. At the beginning of each cycle price discount is offered to boost the demand. Demand depends on time and price during the price discount period. After withdrawal of price discount, demand depends on price only. Here, learning effect on production and set-up cost is incorporated. Models are formulated for both the crisp and fuzzy inventory parameters. Fuzzy models are transferred to deterministic ones following possibility/necessity measure on fuzzy goal and necessity measure on imprecise constraints. Finally optimal decision is made using Genetic Algorithm (GA).
Year
DOI
Venue
2009
10.1016/j.cie.2008.11.016
Computers & Industrial Engineering
Keywords
Field
DocType
fuzzy model,fuzzy goal,price discount period,imprecise planning horizon,genetic algorithm,epq model,possibility/necessity measure,learning effect,promotional demand,price discount,cycle price discount,imprecise constraint,economic production quantity,fuzzy inventory parameter,necessity measure
Learning effect,Economics,Mathematical optimization,Optimal decision,Time horizon,Fuzzy logic,Economic production quantity,Operations management,Genetic algorithm
Journal
Volume
Issue
ISSN
57
1
Computers & Industrial Engineering
Citations 
PageRank 
References 
11
0.69
8
Authors
3
Name
Order
Citations
PageRank
Sova Pal1242.44
Manas Kumar Maiti223620.68
Manoranjan Maiti351447.77