Coordinating inventory control and pricing strategies: The continuous review model

Authors:
Xin Chen;David Simchi-Levi
Affiliations:
Department of Mechanical and Industrial Engineering, University of Illinois at Urbana-Champaign, USA;The Engineering Systems Division and the Department of Civil and Environmental Engineering, Massachusetts Institute of Technology (MIT), USA
Venue:
Operations Research Letters
Year:
2006

Citing 3
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Abstract

We analyze an infinite horizon, single product, continuous review model in which pricing and inventory decisions are made simultaneously and ordering cost includes a fixed cost. We show that there exists a stationary (s,S) inventory policy maximizing the expected discounted or expected average profit under general conditions.