Journal ArticleDOI
Optimal pricing and ordering policies for perishable commodities
TLDR
A multi-period pricing model is proposed for the case where the seller can divide the sales period into several short periods and determine the optimal product price based on the demand rate, buyers' preferences, and length of theSales period.About:
This article is published in European Journal of Operational Research.The article was published on 2003-01-01. It has received 76 citations till now. The article focuses on the topics: Limit price & Revenue.read more
Citations
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Journal ArticleDOI
Review of inventory systems with deterioration since 2001
TL;DR: In this paper, the authors present an up-to-date review of the advances made in the field of inventory control of perishable items (deteriorating inventory) and use the classification of Goyal and Giri based on shelf life characteristics and demand characteristics.
Journal ArticleDOI
The effect of expiration dates and perceived risk on purchasing behavior in grocery store perishable categories
Michael Tsiros,Carrie M. Heilman +1 more
TL;DR: In this article, the authors examine consumers' behavior with respect to expiration dates for grocery store perishable products and propose a better understanding of such behavior can both guide efforts to educate consumers about the risks associated with perishables that are approaching their expiration dates and help managers implement effective promotional strategies for these products throughout the course of their shelf lives.
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
Optimal inventory policy for a perishable item with demand function sensitive to price and time
TL;DR: In this article, a model for determining the optimal pricing, order quantity and replenishment period for perishable items with price-dependent and time-dependent demand is proposed, where the items have a fixed shelf-life and the demand rate decreases linearly in the selling price and polynomially over the time after replenishment until it vanishes either at the reservation price or at expiration time.
Journal ArticleDOI
Optimal selling price and lotsize with time varying deterioration and partial backlogging
TL;DR: The author develops the criterion for the optimal solution for the replenishment schedule, and proves the optimal ordering policy is unique, and suggests to new functions regarding price-dependent demand and time varying deterioration rate.
References
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Journal ArticleDOI
Optimal dynamic pricing of inventories with stochastic demand over finite horizons
TL;DR: In this paper, the authors investigate the problem of dynamically pricing such inventories when demand is price sensitive and stochastic and the firm's objective is to maximize expected revenues, and obtain structural monotonicity results for the optimal intensity resp, price as a function of the stock level and the length of the horizon.
Journal ArticleDOI
Perishable Inventory Theory: A Review
TL;DR: This paper reviews the relevant literature on the problem of determining suitable ordering policies for both fixed life perishable inventory, and inventory subject to continuous exponential decay and considers both deterministic and stochastic demand for single and multiple products.
Journal ArticleDOI
The single-period (news-vendor) problem: literature review and suggestions for future research
TL;DR: In this article, a taxonomy of the single-period problem (SPP) literature is presented, and the contribution of the different SPP extensions are delineated and some future directions for research are discussed.