Joint Pricing and Ordering Policy for an Advance Sales System of Perishable items with Partial Order Cancellations and Price VaryingLinearly Decreasing Demand
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Abstract
The present paper deals with the study of joint pricing and ordering policy foran advance sales
system of perishable items with partial order cancellations and price dependent linearly
decreasing demand. A single period planning horizon is considered in which the cycle length is
divided into two periods:advance sales period and spot sales period. In reality, the discount is
offered to the customers for booking the product in advance along with the reservations to cancel
their orders before receiving. The purpose of our study is to optimizing the total profit during a
given cycle. A numerically example is also given to show the applicability of the developed
model.
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