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Optimal replenishment policy of technology items with imperfect quality using product life-cycle dynamics

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dc.contributor.author Chanda, Udayan
dc.date.accessioned 2025-09-26T06:24:20Z
dc.date.available 2025-09-26T06:24:20Z
dc.date.issued 2025-03
dc.identifier.uri https://www.tandfonline.com/doi/full/10.1080/23270012.2025.2455015
dc.identifier.uri http://dspace.bits-pilani.ac.in:8080/jspui/handle/123456789/19570
dc.description.abstract The dynamicity of the technology market and varied consumer tastes make the technology product market highly unpredictable and complex. Besides, due to competition and fast breakthroughs in the technology market, it can be observed that in recent years, the product life cycle has shortened significantly. It created immense pressure on managers to develop inventory policies corresponding to actual market realities. Economics order quantity (EOQ) models are often used to develop inventory policies. However, due to the variable nature of the demand rate function of technology products, the traditional EOQ models may not be useful for developing replenishment policies for technology products. In addition to the consumer adoption process, inventory managers also face the challenge of imperfect quality products while strategizing business policies. Imperfect quality products can come from flawed transport and storage conditions, or they may come due to the faulty production process. Proper inspection or screening of the lot is important for removing the desired level of defective items before delivery to the customers. In this paper, we propose a new EOQ model for technology items with imperfect quality where the demand rate will follow life-cycle dynamics, and sales are treated as a function of product awareness, utility, and consumer affordability. To confirm the validity of the proposed framework, a numerical analysis is performed under different market conditions. en_US
dc.language.iso en en_US
dc.publisher Taylor & Francis en_US
dc.subject Management en_US
dc.subject EOQ en_US
dc.subject Imperfect quality items en_US
dc.subject Stage-wise adoption process en_US
dc.subject Life-cycle dynamics en_US
dc.title Optimal replenishment policy of technology items with imperfect quality using product life-cycle dynamics en_US
dc.type Article en_US


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