Joint Pricing and Production Planning for Fixed Priced Multiple Products with Backorders
| dc.contributor.author | Caccetta, Louis | |
| dc.contributor.author | Mardaneh, Elham | |
| dc.date.accessioned | 2017-01-30T11:54:11Z | |
| dc.date.available | 2017-01-30T11:54:11Z | |
| dc.date.created | 2015-03-03T20:17:29Z | |
| dc.date.issued | 2010 | |
| dc.identifier.citation | Caccetta, L. and Mardaneh, E. 2010. Joint Pricing and Production Planning for Fixed Priced Multiple Products with Backorders. Journal of Industrial and management optimization. 6 (1): pp. 123-147. | |
| dc.identifier.uri | http://hdl.handle.net/20.500.11937/16148 | |
| dc.identifier.doi | 10.3934/jimo.2010.6.123 | |
| dc.description.abstract |
In this paper, we present a multiperiod model for production planning in a make-to-stock manufacturing system with constant pricing. We consider a multiproduct capacitated setting and introduce a demand-based model where the demand is a function of the price. There is an assumption that the production setup costs are negligible. A key part of the model is that backorders are allowed. As a result of this, the problem becomes a nonlinear programming problem with the nonlinearities in both the objective function and some constraints. We develop an algorithm that computes the global optimal production and pricing policy on a finite time horizon. We illustrate the application of the algorithm through a detailed numerical example. | |
| dc.publisher | American Institute of Mathematical Sciences | |
| dc.title | Joint Pricing and Production Planning for Fixed Priced Multiple Products with Backorders | |
| dc.type | Journal Article | |
| dcterms.source.volume | 6 | |
| dcterms.source.number | 1 | |
| dcterms.source.startPage | 123 | |
| dcterms.source.endPage | 147 | |
| dcterms.source.issn | 1547-5816 | |
| dcterms.source.title | Journal of Industrial and management optimization | |
| curtin.department | Department of Mathematics and Statistics | |
| curtin.accessStatus | Open access via publisher |