Joint pricing and ordering policy for an advance booking system with partial order cancellations

Optimal Pricing Strategies for an Inventory System with Perishable Items and Waiting Time Dependent Order Cancellations

In many industrial settings, managers face the problem of establishing a pricing policy that maximizes the revenue from selling a given inventory of items by a fixed deadline, with the full inventory of items being available for sale from the beginning of the selling period. The items unsold by the deadline have a constant salvage value, which we assume to be zero for simplicity. Pricing must b...

A multiple objective approach for joint ordering and pricing planning problem with stochastic lead times

The integration of marketing and demand with logistics and inventories (supply side of companies) may cause multiple improvements; it can revolutionize the management of the revenue of rental companies, hotels, and airlines. In this paper, we develop a multi-objective pricing-inventory model for a retailer. Maximizing the retailer's profit and the service level are the objectives, and shorta...

Optimal pricing and ordering policies for perishable products under advance-cash-credit payment scheme

Recently, market globalization and competition have forced companies to find alternative means to boost sales and revenue. The use of the cash flow is increasingly becoming a viable alternative for managers to improve their company’s profitability in a supply chain. In today’s business transactions, a supplier usually asks a manufacturer to pay via the advance-cash-credit (ACC) payment scheme i...

Model of an Advance-booking System for Highway Trips

In the 16 th International symposium on transportation and traffic theory, we had presented a novel demand management concept known as the Highway Space Inventory Control System (HSICS). The basic idea of HSICS is that all road users have to make reservations in advance to enter the highway. The system allows highway operators to make real-time decisions whether to accept or reject travellers' ...

Coordinated and Joint Ordering Policies for Two Commodity Inventory System