Journal ArticleDOI
Joint pricing and inventory management with deterministic demand and costly price adjustment
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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
Stability of equilibrium points of demand-inventory model with stock-dependent demand
TL;DR: In this article, a model of demand and inventory of a product in one echelon of supply chain is considered, and a positive invariant set of the system is constructed, based on the Lyapunov method or reducing it to the family of systems of difference equations with hyperbolic equilibrium points.
Journal ArticleDOI
Menu Costs and the Bullwhip Effect: Supply Chain Implications of Dynamic Pricing
TL;DR: In this article, the authors study the supply chain implications of dynamic pricing and estimate how reducing menu costs (the operational burden of adjusting prices) would affect supply chain volatility, and they find that removing menu costs would reduce the mean shipment coefficient of variation by 7.2 percentage points (pp), and the mean sales coefficient of variance by 4.9 pp.
Journal ArticleDOI
Joint Ordering and Markdown Policy for Short Lifetime Products With Competitive Price- and Freshness-Based Demand
Xue Qiao,Zheng Wang,Haoxun Chen +2 more
TL;DR: The underlying reason of employing both regular shelf and markdown shelf in the practice of retailing management for perishable products is revealed and an easy-to-implement ordering andMarkdown policy is proposed, which will bring higher profit than the traditional one-shelf policy and will improve the performance of managing a perishable Products retailing system.
Journal ArticleDOI
Neimark-Sacker Bifurcation in Demand-Inventory Model with Stock-Level-Dependent Demand
TL;DR: In this article, an analysis of the dynamics of demand-inventory model with stock-level-dependent demand formulated as a three-dimensional system of difference equations with four parameters is considered.
Journal ArticleDOI
The Effects of Menu Costs on Retail Performance: Evidence from Adoption of the Electronic Shelf Label Technology
TL;DR: In this article, the adoption of electronic shelf labels (ESLs) by an international grocery retailer in 2015 was used to identify the effects of physical menu costs (i.e., labor and material costs of price adjustment) on retail performance.
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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