Journal ArticleDOI
Joint pricing and inventory management with deterministic demand and costly price adjustment
TLDR
A joint inventory and pricing model of a single product over a finite planning horizon with deterministic demand with polynomial time algorithms to maximize the total profit is analyzed.About:
This article is published in Operations Research Letters.The article was published on 2012-09-01. It has received 37 citations till now. The article focuses on the topics: Limit price & Reservation price.read more
Citations
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Journal ArticleDOI
Integrating Dynamic Pricing with Inventory Decisions Under Lost Sales
TL;DR: This work shows that, under very general conditions on the stochastic demand function, the objective function is concave along the optimal price path provided that the price is decreasing in the post-order inventory level, and suggests that the restriction of decreasing price path does not lead to a significant optimality gap.
Journal ArticleDOI
Effects of a hybrid-price-stock dependent demand on the optimal solutions of a deteriorating inventory system and trade credit policy on re-manufactured product
TL;DR: In this article, a deteriorating inventory model with a hybrid-price-stock dependent demand with credit for units in stock period in the presence of trade credit policy by using the discounted cash flow approach on remanufactured products is presented.
Journal ArticleDOI
Autonomous and advertising-dependent ‘word of mouth’ under costly dynamic pricing
Fouad El Ouardighi,Gustav Feichtinger,Dieter Grass,Richard F. Hartl,Peter M. Kort,Peter M. Kort +5 more
TL;DR: It is shown that, despite costly price adjustments, the interactions between sales price, advertising-dependent and autonomous word of mouth can result in complex dynamic pricing policies involving history-dependence or limit cycling consisting of alternating attraction of new customers and attrition of current customers.
Journal ArticleDOI
Coordinating pricing and production decisions for multiple products
TL;DR: In this article, the authors consider a dynamic problem of joint pricing and production decisions for a profit-maximizing firm that produces multiple products and model the problem as a mixed integer nonlinear program, incorporating capacity constraints, setup costs and dynamic demand.
Journal ArticleDOI
A robust optimisation model for production planning and pricing under demand uncertainty
TL;DR: In this paper, a robust multi-product and multi-period model for planning and pricing is proposed, where the demand is considered to be uncertain and price-dependent, thus, for each price, a range of demands is possible.
References
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Journal ArticleDOI
Dynamic Version of the Economic Lot Size Model
Harvey M. Wagner,T. M. Whitin +1 more
TL;DR: Disjoint planning horizons are shown to be possible which eliminate the necessity of having data for the full N periods and desire a minimum total cost inventory management scheme which satisfies known demand in every period.
DYNAMIC VERSION OF THE ECONOMIC LOT SIZE MODEL*t
Harvey M. Wagner,T. M. Whitin +1 more
TL;DR: In this paper, a forward algorithm for a solution to the following dynamic version of the economic lot size model is given: allowing the possibility of demands for a single item,,inventory holding charges, anid setup costs to vary over N periods, we desire a minimum total cost inventory management scheme which satisfies known demand in every period.
Journal ArticleDOI
The Magnitude of Menu Costs: Direct Evidence from Large U. S. Supermarket Chains
TL;DR: In this article, the authors use store-level data to document the exact process of changing prices and to directly measure menu costs at five multistore supermarket chains and show that changing prices in these establishments is a complex process, requiring dozens of steps and a nontrivial amount of resources.
Journal ArticleDOI
Managerial and Customer Costs of Price Adjustment: Direct Evidence from Industrial Markets
TL;DR: In this article, the authors study the price adjustment practices and provide quantita- tive measurement of the managerial and customer costs of price adjust- ment using data from a large U.S. industrial manufacturer and its custom- ers.
Journal ArticleDOI
Economic lot sizing: an O ( n log n ) algorithm that runs in linear time in the Wagner-Whitin case
TL;DR: An algorithm to solve the economic lot sizing problem in O(n log n) time is presented and it is shown how the Wagner-Whitin case can even be solved in linear time.
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