Requirements Planning with Pricing and Order Selection Flexibility

Authors:
Joseph Geunes;H. Edwin Romeijn;Kevin Taaffe
Affiliations:
Department of Industrial and Systems Engineering, University of Florida, Gainesville, Florida 32611-6595;Department of Industrial and Systems Engineering, University of Florida, Gainesville, Florida 32611-6595;Department of Industrial Engineering, Clemson University, Clemson, South Carolina 29634-0920
Venue:
Operations Research
Year:
2006

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Abstract

Past requirements-planning research has typically assumed that the firms demands are determined prior to production planning. In contrast, we explore a single-stage planning model that implicitly decides, through pricing decisions, the demand levels the firm should satisfy in order to maximize contribution to profit. We briefly discuss solution methods and properties for these problems when production capacities are unlimited. The key result of this work is a polynomial-time solution approach to the problem under time-invariant finite production capacities and piecewise-linear and concave revenue functions in price.