Joint pricing and inventory management with deterministic demand and costly price adjustment
Citations
177 citations
Cites background from "Joint pricing and inventory managem..."
...Similar to Chen & Hu (2008), Chen et al. (2008) incorporate price adjustment costs into an integrated inventory and pricing model but with stochastic demand....
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...Based on this result, Chen & Hu (2008) construct an acyclic network so that solving their inventory and pricing model with price adjustment cost is equivalent to finding a longest path in the acyclic network....
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...Chen & Hu (2008) assume that a cost of changing price tags, independent of the magnitude of the price change, is charged if price at a period is different from its previous period....
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...A few papers that take into account price adjustment cost include Chen & Hu (2008) and Chen et al. (2008), which analyze a stochastic model and will be reviewed in the next section....
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138 citations
Additional excerpts
...Integrating Decisions Scheduling [38*], [103*] [103*] [27*], [90*] Location, Transportation [28] [41], [61], [74], [284] [2], [28], [55], [171] [8] Market/Order Selection [252] [66] [58] [58], [252] Supplier Selection [190] [74] Supply Chain Integration [93], [135] [93] Other Extensions Stochastic Models [120] [120], [175], [212], [233] [25], [42], [58], [121], [122], [120], [156], [241], [250] [128] [65], [69], [86], [85], [87], [225], [243], [246] [8], [120], [156], [225], [238], [241] Pricing/ Discounts [20], [68], [89], [118], [187], [176], [165], [187], [245], [255] [187], [73], [187] [189] [49], [65], [71], [140], [246], [69] [26]...
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64 citations
44 citations
Cites background from "Joint pricing and inventory managem..."
...There is a considerable literature dealing with these models: see, for example, Chen et al. (2006, 2011b), Chen and Simchi-Levi (2012), Chen and Hu (2012), Güler et al. (2014), and the recent book chapter by Simchi-Levi et al. (2014)....
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29 citations
References
2,114 citations
"Joint pricing and inventory managem..." refers background in this paper
...The basic idea is to construct an equivalent longest path problem on some network in a similarway asWagner andWhitin [23]....
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...For example, if price can be changed freely without any associated cost, it reduces to the joint inventory and dynamic pricingmodel analyzed in [22,19]....
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...Second, if no price adjustment cost is incurred, i.e., f (x) = 0, then (1) reduces to the joint inventory and dynamic pricing model studied by Wagner and Whitin [22] and Thomas [19]....
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..., f (x) = 0, then (1) reduces to the joint inventory and dynamic pricing model studied by Wagner and Whitin [22] and Thomas [19]....
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1,520 citations
579 citations
574 citations
"Joint pricing and inventory managem..." refers background in this paper
...These costs, referred to as the menu costs or physical costs, are associated with activities like ‘‘constructing new price lists, printing and distributing new list prices and monthly supplemental price sheets, and notifying suppliers [24]’’....
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...[24] study the pricing practices of a one-billion-dollar industrial firm and observe that ‘‘the price adjustment costs comprise 1....
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490 citations