Dynamic Pricing and the Direct-to-Customer Model in the Automotive Industry
Electronic Commerce Research
Computers and Operations Research
A Fractiles Perspective to the Joint Price/Quantity Newsvendor Model
Management Science
Revenue Management of a Make-to-Stock Queue
Operations Research
Revenue Management Through Dynamic Cross Selling in E-Commerce Retailing
Operations Research
Stockout Compensation: Joint Inventory and Price Optimization in Electronic Retailing
INFORMS Journal on Computing
A Partially Observed Markov Decision Process for Dynamic Pricing
Management Science
A Fractiles Perspective to the Joint Price/Quantity Newsvendor Model
Management Science
Manufacturing & Service Operations Management
Optimal pricing and production policies of a make-to-stock system with fluctuating demand
Probability in the Engineering and Informational Sciences
Dynamic pricing and inventory control for a production system with average profit criterion
Probability in the Engineering and Informational Sciences
Note---Pricing and Inventory Control for a Perishable Product
Manufacturing & Service Operations Management
Computers and Industrial Engineering
Inventory, Discounts, and the Timing Effect
Manufacturing & Service Operations Management
Resource and Revenue Management in Nonprofit Operations
Operations Research
Overselling in a Competitive Environment: Boon or Bane?
Marketing Science
Inventory Centralization Games with Price-Dependent Demand and Quantity Discount
Operations Research
Joint advertising and ordering strategies for perishable product with emergency ordering
CCDC'09 Proceedings of the 21st annual international conference on Chinese control and decision conference
The Coordination of Pricing and Scheduling Decisions
Manufacturing & Service Operations Management
Procurement Mechanism Design in a Two-Echelon Inventory System with Price-Sensitive Demand
Manufacturing & Service Operations Management
Pricing and inventory management in a system with multiple competing retailers under (r, Q) policies
Computers and Operations Research
An Elasticity Approach to the Newsvendor with Price-Sensitive Demand
Operations Research
Manufacturing & Service Operations Management
Computers and Industrial Engineering
Integration of Inventory and Pricing Decisions with Costly Price Adjustments
Operations Research
Optimal markdown pricing strategy with demand learning
Probability in the Engineering and Informational Sciences
A note on demand functions with uncertainty
Operations Research Letters
An inventory system with two suppliers and default risk
Operations Research Letters
Bayesian solution to pricing and inventory control under unknown demand distribution
Operations Research Letters
Inventory control problem with freight cost and stochastic demand
Operations Research Letters
A belief-rule-based inventory control method under nonstationary and uncertain demand
Expert Systems with Applications: An International Journal
Coordinating Multi-Channel Pricing of Seasonal Goods
International Journal of E-Business Research
Coordinating Multi-Channel Pricing of Seasonal Goods
International Journal of E-Business Research
Establishing Nash equilibrium of the manufacturer---supplier game in supply chain management
Journal of Global Optimization
The value of modeling with reference effects in stochastic inventory and pricing problems
Expert Systems with Applications: An International Journal
Hi-index | 0.00 |
This paper addresses the simultaneous determination of pricing and inventory replenishment strategies in the face of demand uncertainty. More specifically, we analyze the following single item, periodic review model. Demands in consecutive periods are independent, but their distributions depend on the item's price in accordance with general stochastic demand functions. The price charged in any given period can be specified dynamically as a function of the state of the system. A replenishment order may be placed at the beginning of some or all of the periods. Stockouts are fully backlogged. We address both finite and infinite horizon models, with the objective of maximizing total expected discounted profit or its time average value, assuming that prices can either be adjusted arbitrarily (upward or downward) or that they can only be decreased. We characterize the structure of an optimal combined pricing and inventory strategy for all of the above types of models. We also develop an efficient value iteration method to compute these optimal strategies. Finally, we report on an extensive numerical study that characterizes various qualitative properties of the optimal strategies and corresponding optimal profit values.