Revenue Management of a Make-to-Stock Queue
Operations Research
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
Computers and Industrial Engineering
Inventory, Discounts, and the Timing Effect
Manufacturing & Service Operations Management
A new approach for the stochastic cash balance problem with fixed costs
Probability in the Engineering and Informational Sciences
Resource and Revenue Management in Nonprofit Operations
Operations Research
Inventory Centralization Games with Price-Dependent Demand and Quantity Discount
Operations Research
Technical Note---Preservation of Quasi-K-Concavity and Its Applications
Operations Research
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
A note on demand functions with uncertainty
Operations Research Letters
Note on the optimality of (s,S) policies for inventory systems with two demand classes
Operations Research Letters
An inventory system with two suppliers and default risk
Operations Research Letters
Inventory control problem with freight cost and stochastic demand
Operations Research Letters
Coordinating inventory control and pricing strategies: The continuous review model
Operations Research Letters
Optimality of (s,S,p) policy in a general inventory-pricing model with uniform demands
Operations Research Letters
Optimal Structural Policies for Ambiguity and Risk Averse Inventory and Pricing Models
SIAM Journal on Control and Optimization
Proceedings of the Winter Simulation Conference
The value of modeling with reference effects in stochastic inventory and pricing problems
Expert Systems with Applications: An International Journal
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We analyze a finite horizon, single product, periodic review model in which pricing and production/inventory decisions are made simultaneously. Demands in different periods are random variables that are independent of each other and their distributions depend on the product price. Pricing and ordering decisions are made at the beginning of each period and all shortages are backlogged. Ordering cost includes both a fixed cost and a variable cost proportional to the amount ordered. The objective is to find an inventory policy and a pricing strategy maximizing expected profit over the finite horizon. We show that when the demand model is additive, the profit-to-go functions arek-concave and hence an ( s, S, p) policy is optimal. In such a policy, the period inventory is managed based on the classical ( s, S) policy and price is determined based on the inventory position at the beginning of each period. For more general demand functions, i.e., multiplicative plus additive functions, we demonstrate that the profit-to-go function is not necessarilyk-concave and an ( s, S, p) policy is not necessarily optimal. We introduce a new concept, the symmetrick-concave functions, and apply it to provide a characterization of the optimal policy.