Geodesic
Optimal Inventory Policies for Imperfect Inventory With Price Dependent Stochastic Demand and Partially Backlogged Shortages
Yugoslav journal of operations research, Tome 22 (2012) no. 2, p. 199 .

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The paper investigates a single period imperfect inventory model with price dependent stochastic demand and partial backlogging. The backorder rate is a nonlinear non-increasing function of the magnitude of shortage. Two special cases are considered assuming that the percentage of defective items follows a truncated exponential distribution and a normal distribution respectively. The optimal order quantity and the optimal mark up value are determined such that the expected total profit of the system is maximized. Numerical example is given to illustrate the proposed model which is compared with the traditional model of perfect stock. Sensitivity analysis is performed to explain the behavior of the proposed model with respect to the key parameters.
Classification : 90B05
Keywords: Imperfect inventory, price-dependent stochastic demand, random defective units, partial backlogging. 
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     author = {Jhuma Bhowmick and G.P. Samanta},
     title = {Optimal {Inventory} {Policies} for {Imperfect} {Inventory} {With} {Price} {Dependent} {Stochastic} {Demand} and {Partially} {Backlogged} {Shortages}},
     journal = {Yugoslav journal of operations research},
     pages = {199 },
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     number = {2},
     year = {2012},
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Jhuma Bhowmick; G.P. Samanta. Optimal Inventory Policies for Imperfect Inventory With Price Dependent Stochastic Demand and Partially Backlogged Shortages. Yugoslav journal of operations research, Tome 22 (2012) no. 2, p. 199 . http://geodesic.mathdoc.fr/item/YJOR_2012_22_2_a3/