January  2007, 3(1): 139-154. doi: 10.3934/jimo.2007.3.139

A nonlinear optimization model for optimal order quantities with stochastic demand rate and price change

1. 

School of Computational and Applied Mathematics, University of the Witwatersrand, 1 Jan Smut Avenue, Private Bag-3, Wits-2050, South Africa, South Africa

Received  December 2005 Revised  October 2006 Published  January 2007

An inventory problem in which the stochastic demand rate in each period is considered. A model is presented to compute optimal order quantities and optimal delivery points in the planning period. This model can also account for any anticipated price change that may occur from time to time. In addition the model can be used to compute volume discounts in accordance to the size of the order. A stochastic global optimization algorithm is used to obtain the numerical results.
Citation: M. M. Ali, L. Masinga. A nonlinear optimization model for optimal order quantities with stochastic demand rate and price change. Journal of Industrial and Management Optimization, 2007, 3 (1) : 139-154. doi: 10.3934/jimo.2007.3.139
[1]

Zhenwei Luo, Jinting Wang. The optimal price discount, order quantity and minimum quantity in newsvendor model with group purchase. Journal of Industrial and Management Optimization, 2015, 11 (1) : 1-11. doi: 10.3934/jimo.2015.11.1

[2]

Shuhua Zhang, Longzhou Cao, Zuliang Lu. An EOQ inventory model for deteriorating items with controllable deterioration rate under stock-dependent demand rate and non-linear holding cost. Journal of Industrial and Management Optimization, 2021  doi: 10.3934/jimo.2021156

[3]

Rajesh Kumar, Jitendra Kumar, Gerald Warnecke. Convergence analysis of a finite volume scheme for solving non-linear aggregation-breakage population balance equations. Kinetic and Related Models, 2014, 7 (4) : 713-737. doi: 10.3934/krm.2014.7.713

[4]

Pablo Ochoa. Approximation schemes for non-linear second order equations on the Heisenberg group. Communications on Pure and Applied Analysis, 2015, 14 (5) : 1841-1863. doi: 10.3934/cpaa.2015.14.1841

[5]

Yunfei Lv, Yongzhen Pei, Rong Yuan. On a non-linear size-structured population model. Discrete and Continuous Dynamical Systems - B, 2020, 25 (8) : 3111-3133. doi: 10.3934/dcdsb.2020053

[6]

Hamza Khalfi, Amal Aarab, Nour Eddine Alaa. Energetics and coarsening analysis of a simplified non-linear surface growth model. Discrete and Continuous Dynamical Systems - S, 2022, 15 (1) : 161-177. doi: 10.3934/dcdss.2021014

[7]

Luke Finlay, Vladimir Gaitsgory, Ivan Lebedev. Linear programming solutions of periodic optimization problems: approximation of the optimal control. Journal of Industrial and Management Optimization, 2007, 3 (2) : 399-413. doi: 10.3934/jimo.2007.3.399

[8]

Akhlad Iqbal, Praveen Kumar. Geodesic $ \mathcal{E} $-prequasi-invex function and its applications to non-linear programming problems. Numerical Algebra, Control and Optimization, 2021  doi: 10.3934/naco.2021040

[9]

Olha P. Kupenko, Rosanna Manzo. On optimal controls in coefficients for ill-posed non-Linear elliptic Dirichlet boundary value problems. Discrete and Continuous Dynamical Systems - B, 2018, 23 (4) : 1363-1393. doi: 10.3934/dcdsb.2018155

[10]

Kurt Falk, Marc Kesseböhmer, Tobias Henrik Oertel-Jäger, Jens D. M. Rademacher, Tony Samuel. Preface: Diffusion on fractals and non-linear dynamics. Discrete and Continuous Dynamical Systems - S, 2017, 10 (2) : i-iv. doi: 10.3934/dcdss.201702i

[11]

Dmitry Dolgopyat. Bouncing balls in non-linear potentials. Discrete and Continuous Dynamical Systems, 2008, 22 (1&2) : 165-182. doi: 10.3934/dcds.2008.22.165

[12]

Dorin Ervin Dutkay and Palle E. T. Jorgensen. Wavelet constructions in non-linear dynamics. Electronic Research Announcements, 2005, 11: 21-33.

[13]

Armin Lechleiter. Explicit characterization of the support of non-linear inclusions. Inverse Problems and Imaging, 2011, 5 (3) : 675-694. doi: 10.3934/ipi.2011.5.675

[14]

Denis Serre. Non-linear electromagnetism and special relativity. Discrete and Continuous Dynamical Systems, 2009, 23 (1&2) : 435-454. doi: 10.3934/dcds.2009.23.435

[15]

Feng-Yu Wang. Exponential convergence of non-linear monotone SPDEs. Discrete and Continuous Dynamical Systems, 2015, 35 (11) : 5239-5253. doi: 10.3934/dcds.2015.35.5239

[16]

Anugu Sumith Reddy, Amit Apte. Stability of non-linear filter for deterministic dynamics. Foundations of Data Science, 2021, 3 (3) : 647-675. doi: 10.3934/fods.2021025

[17]

Ahmad El Hajj, Aya Oussaily. Continuous solution for a non-linear eikonal system. Communications on Pure and Applied Analysis, 2021, 20 (11) : 3795-3823. doi: 10.3934/cpaa.2021131

[18]

Tien-Yu Lin, Bhaba R. Sarker, Chien-Jui Lin. An optimal setup cost reduction and lot size for economic production quantity model with imperfect quality and quantity discounts. Journal of Industrial and Management Optimization, 2021, 17 (1) : 467-484. doi: 10.3934/jimo.2020043

[19]

Paolo Buttà, Franco Flandoli, Michela Ottobre, Boguslaw Zegarlinski. A non-linear kinetic model of self-propelled particles with multiple equilibria. Kinetic and Related Models, 2019, 12 (4) : 791-827. doi: 10.3934/krm.2019031

[20]

Francesca Biagini, Katharina Oberpriller. Reduced-form setting under model uncertainty with non-linear affine intensities. Probability, Uncertainty and Quantitative Risk, 2021, 6 (3) : 159-188. doi: 10.3934/puqr.2021008

2020 Impact Factor: 1.801

Metrics

  • PDF downloads (145)
  • HTML views (0)
  • Cited by (2)

Other articles
by authors

[Back to Top]