Optimal Order Quantity and Pricing for Perishable Commodities and Solutions with Particle Swarm Optimization

Zhi You TIAN;Lu Quan JIANG;Rui Ming WU

Systems Engineering - Theory & Practice ›› 2005, Vol. 25 ›› Issue (3) : 46-51.

PDF(271 KB)
PDF(271 KB)
Systems Engineering - Theory & Practice ›› 2005, Vol. 25 ›› Issue (3) : 46-51. DOI: 10.12011/1000-6788(2005)3-46
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Optimal Order Quantity and Pricing for Perishable Commodities and Solutions with Particle Swarm Optimization

  • Zhi You TIAN,Lu Quan JIANG,Rui Ming WU
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Abstract

The problem of ordering policies and optimal pricing for perishable commodities is mainly studied. According to a kind of demand distribution, which can be represented as a negative binomial distribution, the profit maximization model of those products is deduced. Since the model involves several different stochastic distributions, which are difficult for the normal function optimization methods to solve, the particle swarm optimization (PSO) algorithm is introduced for th...

Key words

perishable commodities / order quantity / pricing / demand distribution / particle swarm optimization

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Zhi You TIAN , Lu Quan JIANG , Rui Ming WU. Optimal Order Quantity and Pricing for Perishable Commodities and Solutions with Particle Swarm Optimization. Systems Engineering - Theory & Practice, 2005, 25(3): 46-51 https://doi.org/10.12011/1000-6788(2005)3-46
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