期刊名称:International Journal of E-Business Development
印刷版ISSN:2225-7411
电子版ISSN:2226-7336
出版年度:2014
卷号:4
期号:2
语种:English
出版社:World Academic Publishing
摘要:The new product diffusion models such as Bass model and their revised and extended forms have played a major role in marketing literature because those models have been widely used for forecasting dynamic demand growth in retail service, industrial technology, consumer durable goods, etc. However, the demand pattern of these models has not been recognized by the models developed in the inventory field. The approach of this paper is to develop an inventory model in which the demand of the product follows extended Bass diffusion model by incorporating price in a multiplicative way. The model is illustrated with a numerical example and a comprehensive sensitivity analysis of the optimal solution with respect to different parameters was performed to make the model more effective.