Existing revenue management solutions employed by legacy carriers, which are based on allocating capacity to pre-defined fare classes, are increasingly inadequate to compete against low-cost carriers that impose few or no fare restrictions and make their fares widely available through the Internet. To avoid revenue erosion due to inadequate solutions, legacy carriers need to develop systems tha...

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. This problem arises in a variety of industries, including the sale of fashion garments, flight seats, and hotel rooms. We...

Due to the rapid development of technology in recent years, market competition and customer expectations have increased more than ever. In this situation, it is vital for businesses survival to determine the appropriate policy for inventory control, pricing, and routing, and decisions regarding each of them are often made separately. If the products have a perishable nature, it will be more imp...

Sustainability in the supply chain means pushing the supply chain to focus on social, economic and environmental aspects, and addressing the existing problems in the traditional supply chain. Considering the importance of evaluating supply chain networks, especially in the field of perishable commodities, this paper aimed to design a mathematical model for the reverse supply chain of perishable...

We propose an approximation scheme for two important but difficult single-product inventory systems, specifically, the lost-sales system and the perishable product system. The approach is based on quadratic approximations of cost-to-go functions within the framework of Approximate Dynamic Programming via Linear Programming. We propose heuristics and evaluate their performance against existing h...

An inventory model with 3-variable Weibull distribution demand rate and constant deterioration is developed. The holding cost is constant. Shortages are not allowed. The salient feature of this inventory model is for non-perishable products or deteriorating items. A numerical example has been illustrated using MATLAB to describe the model and the sensitivity analysis of various parameters is ca...

The objective of this model is to investigate the inventory system for perishable items with linear demand pattern where Weibull deterioration is considered. The Economic order quantity is determined for minimizing the average total cost per unit time. The unit production cost is taken to be inversely related to the demand rate. The result is illustrated with numerical example.