ABSTRACT This paper considers the problem of dynamic decision-making for an inventory model for deteriorating items under price inflation and permissible delay in payment. In this paper, we adopt an iso-elastic and selling price dependent demand function to model the finite time horizon inventory for deteriorating items. The stocks deteriorate physically at a constant fraction of the on-hand inventory. The objective of this paper is to determine the optimal retail price, number of replenishments, and the cycle time under two different credit periods so that the net profit is maximized. We discuss the optimization properties and develop an algorithm for solving the problem based on dynamic programming techniques. Numerical examples are presented to illustrate the validity of the optimal control policy, and sensitivity analysis on major parameters is performed to provide more managerial insights into deteriorating items.

中文翻译：

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在可允许的付款延迟和价格通胀下，具有价格依赖的等弹性需求的劣化物品的订购策略

摘要 本文考虑了在价格上涨和允许延迟付款的情况下，库存模型的动态决策问题。在本文中，我们采用等弹性和销售价格相关的需求函数来模拟变质物品的有限时间范围库存。库存在现有库存的恒定比例下实际恶化。本文的目标是确定两个不同信用期下的最优零售价格、补货次数和周期时间，使净利润最大化。我们讨论了优化特性并开发了一种基于动态规划技术解决问题的算法。给出了数值例子来说明最优控制策略的有效性，