Showing papers by "Alfred Taudes published in 2009"
Posted Content•
TL;DR: In this paper, the authors show that the gains achievable by integrating pricing and inventory control are usually small for classical demand functions and introduce reference price models and demonstrate that for this class of demand functions the benefits of integration with inventory control is substantially increased due to the price dynamics.
Abstract: In this paper we first show that the gains achievable by integrating pricing and inventory control are usually small for classical demand functions. We then introduce reference price models and demonstrate that for this class of demand functions the benefits of integration with inventory control are substantially increased due to the price dynamics. We also provide some analytical results for this more complex model. We thus conclude that integrated pricing/inventory models could repeat the success of revenue management in practice if reference price effects are included in the demand model and the properties of this new model are better understood.
24 citations
01 Jan 2009
TL;DR: In this paper, a survey of decision support systems that use sales and shopping basket data to suggest regular and promotional price changes in order to improve profit and turnover in retailing is presented.
Abstract: This work surveys decision support systems that use sales and shopping basket data to suggestregular and promotional price changes in order to improve profit and turnover in retailing (so-called retail revenue management [RRM] systems). Starting with a demonstration of the impactof pricing on profit, we critically assess the pricing methods currently used in retailing and fromthis basis show the potential for improvement using retail revenue management systems. Fur-thermore, we classify the different types of pricing problems and describe the methods that areused in retail revenue management. Finally, we discuss the pricing process of retail revenuemanagement systems and report the benefits of such systems typically observed in practice. Keywords Price Optimization, Dynamic Pricing, Revenue Management, Decision Support System Andreas MildInstitute of Production Management, Vienna University of Economics and Business, Vienna, Austria.Martin NatterMarketing Department, University of Frankfurt, Frankfurt am Main, Germany.Thomas ReuttererInstitute of Retailing and Marketing, Vienna University of Economics and Business, Vienna, Austria.Alfred Taudes
8 citations
Journal Article•
TL;DR: In this article, a.1. Einleitung is discussed. Butt et al. present a method to solve the problem of "self-deletion".
Abstract: 1. Einleitung