A model for pricing of non-instantaneous perishable products considering age, price and demand as variable factors and satisfaction of chain centers

Document Type : Research Paper

Authors

1 K. N. Toosi Unversity of Technology, Tehran, Iran

2 Faculty member

Abstract

Pricing is one of the most important decisions a company or organization can take, because the reflector price is the amount of value that a product has and the customer is willing to pay. This issue will become even more important for perishable products. Therefore, in this paper, we will examine the pricing of non-instantaneous perishable products, as demand is a nonlinear function of the price and age of the product. Also, the price is a function of the product's age. The model is a bi-objective model, which, in addition to maximizing profit, attempts to maximize this issue, considering the satisfaction of chain centers and customers as a goal. Genetic Algorithm and Vibration Damping Optimization has been used to solve the problem. Results show the validation of the model and the performance of the developed algorithms.

Keywords

References

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Journal of Industrial Engineering Research in Production Systems
Volume 7, Issue 15
March 2020
Pages 355-375

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