A particle swarm optimization for solving joint pricing and lot-sizing problem with fluctuating demand and trade credit financing

作者：Dye Chung Yuan^*; Ouyang Liang Yuh

来源：Computers & Industrial Engineering, 2011, 60(1): 127-137.

DOI：10.1016/j.cie.2010.10.010

• Inventory
• Time-varying demand
• Deteriorating items
• Trade credit financing
• Particle swarm optimization

Pricing is a major strategy for a retailer to obtain its maximum profit. Furthermore, under most market behaviors, one can easily find that a vendor provides a credit period (for example 30 days) for buyers to stimulate the demand, boost market share or decrease inventories of certain items. Therefore, in this paper, we establish a deterministic economic order quantity model for a retailer to determine its optimal selling price, replenishment number and replenishment schedule with fluctuating demand under two levels of trade credit policy. A particle swarm optimization is coded and used to solve the mixed-integer nonlinear programming problem by employing the properties derived in this paper. Some numerical examples are used to illustrate the features of the proposed model.

• 出版日期2011-2