Name
Abstract | ||
|---|---|---|
In this note, we study the concurrent determination of pricing and inventory replenishment decisions for a perishable product in an infinite horizon. Demands in consecutive periods are independent and influenced by prices charged in each period. In particular, we treat price as a decision variable to maximize the total discounted profit. We analyze the optimal solution-structure of a two-period lifetime problem and from insights gained in numerical experiments, develop a base-stock/list-price heuristic policy for products with arbitrary fixed lifetimes. Experiments show this policy to be effective. |
Year | DOI | Venue |
|---|---|---|
2009 | 10.1287/msom.1080.0238 | Manufacturing & Service Operations Management |
Keywords | Field | DocType |
consecutive period,numerical experiment,perishable product,infinite horizon,decision variable,inventory replenishment decision,inventory control,optimal solution-structure,list-price heuristic policy,concurrent determination,arbitrary fixed lifetime,profitability | Decision variables,Economics,Heuristic,Perpetual inventory,Microeconomics,Inventory control,Infinite horizon,Operations management | Journal |
Volume | Issue | ISSN |
11 | 3 | 1523-4614 |
Citations | PageRank | References |
17 | 0.88 | 9 |
Authors | ||
3 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Yanzhi Li | 1 | 67 | 11.56 |
| Andrew Lim | 2 | 150 | 13.57 |
| Brian Rodrigues | 3 | 78 | 8.07 |