Work

Joint pricing and production management: a geometric programming approach with consideration of cubic production cost function

Year: 2014

Type: article

Abstract: Coordination and harmony between different departments of a company can be an important factor in achieving competitive advantage if the company corrects alignment between strategies of different departments. This paper presents an integrated decision model based on recent advances of geometric programming technique. The demand of a product considers as a power function of factors such as product's price, marketing expenditures, and consumer service expenditures. Furthermore, production cost considers as a cubic power function of outputs. The model will be solved by recent advances in convex optimization tools. Finally, the solution procedure is illustrated by numerical example.

Source: Journal of industrial engineering international

DOI: 10.1007/s40092-014-0079-1

Authors: Seyed Jafar Sadjadi, Aghil Hamidi Hesarsorkh, Mehdi Mohammadi, Ali Bonyadi Naeini

Institutions: Iran University of Science and Technology, University of Tehran

Language: English

Topic: Supply Chain and Inventory Management

Subfield: Management Information Systems

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: diamond

OpenAlex ID: W2017085964

FWCI: 2.219

Cites: 44

Cited by: 14

Related to: 10