Journal ArticleDOI
Optimal ordering, discounting, and pricing in the single-period problem
TLDR
In this article, the authors extend the single-period problem to the case of multiple discounts with prices under the control of the newsboy or newsvendor, and develop algorithms for determining the optimal number of discounts under fixed discounting cost for a given order quantity and realization of demand.About:
This article is published in International Journal of Production Economics.The article was published on 2000-04-20. It has received 116 citations till now. The article focuses on the topics: Newsvendor model & Economic order quantity.read more
Citations
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Book ChapterDOI
Coordination of Pricing and Inventory Decisions: A Survey and Classification
TL;DR: In this paper, the authors explore innovative pricing strategies in an effort to improve their operations and ultimately the bottom line, including potential increases in profit, and improvements such as reduction in demand or production variability, resulting in more efficient supply chains.
Book ChapterDOI
Coordinated Pricing and Production/Procurement Decisions: A Review
TL;DR: In this article, a comprehensive review of analytical models on this topic, focusing on models in which external demand is price-sensitive, is provided, considering both constant and time-varying demand functions, with and without demand uncertainty.
Journal ArticleDOI
Effects of a demand-curve’s shape on the optimal solutions of a multi-echelon inventory/pricing model
Amy Hing-Ling Lau,Hon-Shiang Lau +1 more
TL;DR: Establishing the existence of counter-intuitive effects of the demand-curve form represents a first step towards developing procedures to handle such effects; these procedures will be necessary to ensure the reliability of many multi-echelon models for products having price-sensitive demands.
Journal ArticleDOI
Inventory policy for products with price and time-dependent demands
TL;DR: Analytical results show that a stationary solution to the Kuhn–Tucker necessary conditions can be found and it is shown to be the optimal solution.
Journal ArticleDOI
Joint Production and Pricing Decisions with Setup Costs and Capacity Constraints
Shiming Deng,Candace Arai Yano +1 more
TL;DR: It is shown that, counter to intuition, optimal prices may increase as the capacity increases, even when capacity is constant over the horizon, and that firms with seasonal demand and tight capacity constraints should be more aggressive in setting prices to manage their demands than what is typically done in practice.
References
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Book
Production and Operations Analysis
TL;DR: Chapter 1 Strategy and Competition Chapter 2 Forecasting Chapter 3 Aggregate Planning Supplement 1 Linear Programming Chapter 4 Inventory Control Subject to Known Demand Chapter 5 Inventory Control subject to Uncertain Demand Chapter 6 Supply Chain Management Chapter 7 Push and Pull Production Control Systems: MRP and JIT.
Journal ArticleDOI
The Distribution Free Newsboy Problem: Review and Extensions
Guillermo Gallego,Ilkyeong Moon +1 more
TL;DR: In this article, the optimality of Scarf's ordering rule for the newsboy problem with only the mean and the variance of the demand are known is analyzed, and the analysis is extended to the fixed ordering cost case, where a fixed cost is charged for placing an order, and to the case of random yields.
Journal ArticleDOI
Inventory Control and Price Theory
TL;DR: In spite of the high level of interest in inventory control that has sprung up recently among statisticians, economists, and businessmen, very little has been written that indicates the fundamental connection between price theory and inventory control.
Journal ArticleDOI
Uncertainty and Price Theory
TL;DR: In this article, the fundamental theorem of marginal cost and uncertain demand has been proved, and alternative specifications have been proposed, such as constant marginal cost, linear riskless demand, and rectangular distribution.
Journal ArticleDOI
The Newsboy Problem With Price-Dependent Demand Distribution
Amy Hing-Ling Lau,Hon-Shiang Lau +1 more
TL;DR: In this article, an extension of the classical newsboy problem where a stochastic price-demand relationship exists for the product is considered, and a versatile approach capable of modeling price demand relationships of various levels of complexities is presented.