Optimal dynamic pricing and production policy for a stochastic inventory system with perishable products and inventory-level-dependent demand

نویسندگان

چکیده

In this paper, we consider a joint dynamic pricing and production policy for stochastic inventory system with perishable products. The demand is dependent on the price level of on-hand inventory. Combined control, optimization model that maximizes total discounted profit built. Applying optimal control theory, formulate problem finding schedule as solving Hamilton-Jacobi-Bellman (HJB) equation. By HJB equation, analytical solutions rate are obtained. addition, numerical example given to illustrate validness theoretical results sensitivity analysis major parameters carried out.

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ژورنال

عنوان ژورنال: Journal of Industrial and Management Optimization

سال: 2023

ISSN: ['1547-5816', '1553-166X']

DOI: https://doi.org/10.3934/jimo.2023050