Dynamic pricing inventory control under fixed cost and lost sales
نویسندگان
چکیده
منابع مشابه
Optimal Dynamic Joint Pricing and Inventory Control for Multiplicative Demand with Fixed Order Costs and Lost Sales
In this paper we study the optimal dynamic decision-making problem for a retailer selling a single product and facing price-sensitive, stochastic (multiplicative) demand in each period. Any leftover inventory for a period is carried over and charged a holding cost at the end of the period. Leftovers at the end of the selling horizon earn a non-negative salvage value. On the other hand, any unsa...
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This note studies the optimal dynamic decision-making problem for a retailer in a price-sensitive, multiplicative demand framework. Our model incorporates lost sales, holding cost, fixed and variable procurement costs, as well as salvage value. We characterize the structure of the retailer’s (discounted) expected profit-maximizing dynamic inventory policy for both finite and infinite selling ho...
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We consider the classical joint pricing and inventory control problem with lost-sales and censored demand in which the customer’s response to selling price and the demand distribution are not known a priori, and the only available information for decision-making is the past sales data. Conventional approaches, such as stochastic approximation, online convex optimization, and continuum-armed ban...
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We consider a perishable inventory system that operates under stochastic demand, constant lifetime and a constant lead time. The system employs a continuous review ðr;Q Þ inventory control policy where unfilled demands are lost. We investigate the properties of the cost function and present an approximation procedure to find the parameters r and Q that minimize the total cost. We then conduct a...
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ژورنال
عنوان ژورنال: Applied Mathematical Modelling
سال: 2014
ISSN: 0307-904X
DOI: 10.1016/j.apm.2013.07.005