Paper Info
Title
Joint pricing and inventory decisions for substitutable and perishable products under demand uncertainty
Abstract
•We develop a joint pricing and inventory model for substitutable and perishable products with stochastic demand.•We derive analytical properties of the optimal decisions such as the concavity of the value functions.•We develop an efficient numerical scheme for finding the optimal joint ordering and pricing policy.•We provide numerical experiments on a case study with real data as well as over 100 simulated test instances.•Numerical results show the benefits of considering substitution as well as joint pricing and inventory.
Year
DOI
Venue
2021
10.1016/j.ejor.2020.08.002
European Journal of Operational Research
Keywords
DocType
Volume
Pricing,Inventory,Demand uncertainty,Dynamic programming,Perishable products,Substitution
Journal
293
Issue
ISSN
Citations 
2
0377-2217
0
PageRank 
References 
Authors
0.34
0
3
Name
Order
Citations
PageRank
Fei Fang100.34
Tri-Dung Nguyen2299.02
Christine S. M. Currie300.34