Research on Multi-Product Ordering Strategy Based on Quantity Discounts and Temporary Price Discounts

DOI

10.2991/978-94-6463-308-5_17How to use a DOI?

Keywords

Inventory Management; Volume Discounts; Sourcing Strategy; Genetic Algorithm

Abstract

Inventory management is the most important link in the logistics chain of perishable goods, and this paper investigates an inventory control model that takes into account the effects of various costs, quantity discounts offered by the supplier to the retailer, and temporary price discounts offered by the retailer to the consumer on their demand and order quantities. By considering demand, discount promotions, quantity discounts and various types of costs, the paper develops a multi-product nonlinear planning model and solves it using a genetic algorithm. Finally, the optimal multi-product ordering strategy is derived through numerical analysis to enable firms to perform better inventory management activities.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Chenxia Jin
AU  - Ying Chen
AU  - Baozhen Guo
PY  - 2023
DA  - 2023/12/11
TI  - Research on Multi-Product Ordering Strategy Based on Quantity Discounts and Temporary Price Discounts
BT  - Proceedings of the 2023 8th International Conference on Engineering Management (ICEM 2023)
PB  - Atlantis Press
SP  - 162
EP  - 169
SN  - 2589-4943
UR  - https://doi.org/10.2991/978-94-6463-308-5_17
DO  - 10.2991/978-94-6463-308-5_17
ID  - Jin2023
ER  -