Multi-objective framework for process mean selection and price differentiation with leakage effects under price-dependent stochastic demand
المؤلف | Raza, Syed Asif |
المؤلف | Abdullakutty, Faseela Chakkalakkal |
المؤلف | Rathinam, Sivakumar |
المؤلف | Govindaluri, Srikrishna Madhumohan |
تاريخ الإتاحة | 2020-08-18T08:34:44Z |
تاريخ النشر | 2019 |
اسم المنشور | Computers and Industrial Engineering |
المصدر | Scopus |
الرقم المعياري الدولي للكتاب | 3608352 |
الملخص | This paper investigates the process mean selection problem that simultaneously considers pricing, production and quality decisions in a multi-objective context when the manufacturing firm experiences a demand leakage in simultaneously observed price-dependent stochastic demand. The output of the manufacturing process is segregated into two grades sold in primary and secondary markets using a differentiation price as the market segmentation tool. Nonconforming items are reworked at an additional cost and only price-dependent stochastic demand with leakage effects is assumed. Three objectives, expected gross income from sales, expected profit and expected product uniformity are considered in the proposed multi-objective optimization model. Two solution algorithms are proposed, a goal programming approach combined with a simulation based optimization and a multi-objective genetic algorithm. A detailed numerical experimentation is employed to compare the two algorithms. - 2018 Elsevier Ltd |
اللغة | en |
الناشر | Elsevier Ltd |
الموضوع | Demand leakage Genetic algorithm Goal programming Multi-objective optimization Price differentiation Price-dependent stochastic demand Process mean Revenue management |
النوع | Article |
الصفحات | 698-708 |
رقم المجلد | 127 |
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