Abstract Assume that customers are price sensitive, changes in the price of perishable products will bring changes in demand, and business can adjust the perishable products' price to influence the market demand, a perishable products multi-stage pricing model considering cancelations and no-shows is proposed, and the optimal pricing, the optimal expected revenue with the products' initial quan...

In inventory, the utility of the deteriorating items decreases with time. The degree of deterioration of product utility can be treated as penalty cost in the inventory replenishment system. In this paper, we present EOQ model for those perishable products, which do not deteriorate for some period of time and after that time they continuously deteriorate with time and loose their importance. Th...

We introduce a dynamic pricing model for a monopolistic company selling a perishable product to a finite population of strategic consumers (customers who are aware that pricing is dynamic and may time their purchases strategically). This problem is modeled as a stochastic dynamic game in which the company’s objective is to maximize total expected revenues, and each customer maximizes the expect...

ABSTRACT In this paper, we study a deterministic inventory model for deteriorating items under time-dependent partial backlogging. Though lot of factors involving inventory affect the demand, among them time and stock are the most important factors. Therefore, we consider here the combined stock and time varying demand to make the theory more applicable in practice. We study the effects time de...

We consider a stochastic fluid EOQ-type model with demand rates that operate in a two-state random environment. This environment alternates between exponentially distributed periods of high demand and generally distributed periods of low demand. The inventory level starts at some level q, and decreases linearly at rate a during the periods of high demand, and at rate b < a at periods of low dem...

Senior managers in retail industry make important decisions upon assortment planning, product pricing, and product promotion. While product assortment is a strategic decision taken over a long-term planning period (Kök et al., 2006), the latter two are both strategic and tactical: they can be used in dayto-day marketing decisions to dynamically adjust to demand variations. Within the food retai...

This paper deals with an inventory system with one central warehouse and a number of identical retailers. We consider perishable-on-theshelf items; that is, all items have a fixed shelf life and start to age on their arrival at the retailers. Each retailer faces Poisson demand and employs (1, T) inventory policy. Although demand not met at a retailer is lost, the unsatisfied demand at the centr...