Quality and pricing decisions for substitutable items under imperfect production process over a random planning horizon

Manoranjan DE; Barun DAS; Manoranjan MAİTİ

Article Details

Quality and pricing decisions for substitutable items under imperfect production process over a random planning horizon

Authors:

Manoranjan DE | Barun DAS | Manoranjan MAİTİ

Publisher:

Hacettepe University

Main Topics:

Mathematics

Journal:

Hacettepe Journal of Mathematics and Statistics 2018 Vol.47 Issue 1, pp.175-201

Document Type:

Article

Publication Date:

1/2018

Document Language:

English

Document ID (Org No.):

2000452075

Frequency:

Bimonthly

eISSN:

2651-477X

pISSN:

2651-477X

Abstract:

 


The paper determines the optimum qualities and prices of two substitute products for a manufacturer cum retailer in an imperfect production process over a random planning horizon for maximum prot. In this Economic Production Lot-size (EPL) process, items are produced simultaneously, defective production commences during the out-of-control state after the passage of some time from the commencement of production and the defective units are partially reworked. The items are substitutable to each other depending on their prices and qualities jointly or either of these two. Unit production cost depends directly on raw-material, labour and quality improvement costs and inversely on the production rate. A part of it is spent against environment protection. Here learning effect is introduced in the set-up and maintenance costs. For the whole process, the planning horizon is random with normal distribution, which is treated as a chance constraint. The models are formulated as prot maximization problems subject to a chance constraint and solved using Genetic Algorithm with Variable Populations (GAVP). The models are demonstrated numerically and the near-optimum results are presented graphically. 

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Article Details

Quality and pricing decisions for substitutable items under imperfect production process over a random planning horizon

Authors: Manoranjan DE | Barun DAS | Manoranjan MAİTİ

Publisher: Hacettepe University

Main Topics: Mathematics

Journal: Hacettepe Journal of Mathematics and Statistics 2018 Vol.47 Issue 1, pp.175-201

Document Type: Article

Publication Date: 1/2018

Document Language: English

Document ID (Org No.): 2000452075

Frequency: Bimonthly

eISSN: 2651-477X

pISSN: 2651-477X

Issues

Authors:

Manoranjan DE | Barun DAS | Manoranjan MAİTİ

Publisher:

Hacettepe University

Main Topics:

Mathematics

Journal:

Hacettepe Journal of Mathematics and Statistics 2018 Vol.47 Issue 1, pp.175-201

Document Type:

Article

Publication Date:

1/2018

Document Language:

English

Document ID (Org No.):

2000452075

Frequency:

Bimonthly

eISSN:

2651-477X

pISSN:

2651-477X