A REPLENISHMENT POLICY FOR ITEM WITH PRICE DEPENDENT DEMAND AND DETERIORATING UNDER MARKDOWN POLICY
ABSTRACT: Many researches on
deteriorating inventory model have been developed in recent years. This paper develops
deteriorating inventory model with price-dependent demand and uses markdown
policy to increase profit. Two examples are used to explain the model and some interesting results are derived.
Markdown policy can increase total profit, but the best markdown time and price
depend are case dependent.
Author: Gede Agus Widyadana, Hui
Ming Wee
Journal Code: jptindustrigg070005

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