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AuthorRaza, Syed Asif
AuthorAbdullakutty, Faseela Chakkalakkal
AuthorRathinam, Sivakumar
AuthorGovindaluri, Srikrishna Madhumohan
Available date2020-08-18T08:34:44Z
Publication Date2019
Publication NameComputers and Industrial Engineering
ResourceScopus
ISSN3608352
URIhttp://dx.doi.org/10.1016/j.cie.2018.11.010
URIhttp://hdl.handle.net/10576/15641
AbstractThis 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
Languageen
PublisherElsevier Ltd
SubjectDemand leakage
Genetic algorithm
Goal programming
Multi-objective optimization
Price differentiation
Price-dependent stochastic demand
Process mean
Revenue management
TitleMulti-objective framework for process mean selection and price differentiation with leakage effects under price-dependent stochastic demand
TypeArticle
Pagination698-708
Volume Number127
dc.accessType Abstract Only


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