• Aucun résultat trouvé

Coordinating Inventory Control and Pricing Strategies with Random Demand and Fixed Ordering Cost: the Infinite Horizon Case

N/A
N/A
Info
Télécharger
Protected

Academic year: 2021

Partager "Coordinating Inventory Control and Pricing Strategies with Random Demand and Fixed Ordering Cost: the Infinite Horizon Case"

Copied!
1
0
0

Chargement.... (Voir le texte intégral maintenant)

Texte intégral

(1)

Coordinating Inventory Control and Pricing

Strategies with Random Demand and Fixed

Ordering Cost: the Infinite Horizon Case

Xin Chen and David Simchi-Levi

Massachusetts Institute of Technology

Abstract – We analyze an infinite horizon, single

product, periodic review model in which pricing and production/inventory decisions are made simultaneously. Demands in different periods are identically distributed 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 maximize expected discounted, or expected average profit over the infinite planning horizon. We show that a stationary (s,S,p) policy is optimal for both the discounted and average profit models with general demand functions. 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.

Références

Télécharger maintenant ( PDF - 1 Page - 10.71 KB )

Documents relatifs

The deep-ocean heat uptake in transient climate change

The deep-ocean heat uptake (DOHU) in transient climate changes is studied using an ocean general circulation model (OGCM) and its adjoint.. The model configuration consists of

Functional Deficit and Recovery of Developing Sensorimotor Networks following Neonatal Hypoxic-Ischemic Injury in the Rat

HI at P3 does not produce an overt necrotic reaction as observed in other HI models at P7 (Towfighi and Mauger 1998; Vannucci RC and Vannucci SJ 2005) or in adult rats (Carmichael

Inventory Model with the Consideration of Pricing, Product Substitution and Value Deterioration

Second, we propose a MILP model for this problem and develop a response surface method to derive the optimal production quantity for each period and its corresponding prices..

The Arabic Calligraphy inventory The name of the item is : Arabic Calligraphy "

The writing in Palestine went through Arabic calligraphy in stages, including: The writing set the shape of the letter, so several types of calligraphy that calligraphers chose

The inventory of Palestinian Embroidery Heritage

Palestinian women continued carrying this traditional art that expresses their identity in the refugee camps in Jordan, Lebanon, and Syria, and in their place of residence all

Dealing with the Inventory Risk

In fact, we can consider that, after each trade that partially filled the order, the market maker sends a new order so that the total size of his orders is δq, using a convex

The effectiveness of economic policy and position in the cycle

We then propose conducting an evaluation in different economic situations of a measure devised before the crisis, i.e., tax allowances on overtime hours and their exemption