Coordinated pricing and inventory decisions for perishable products

详细信息    查看全文

• 作者：Onur Kaya ; Aylin Lelizar Polat
• 关键词：Pricing ; Inventory ; Perishable ; Revenue management
• 刊名：OR Spectrum
• 出版年：2017
• 出版时间：March 2017
• 年：2017
• 卷：39
• 期：2
• 页码：589-606
• 全文大小：
• 刊物主题：Operation Research/Decision Theory; Calculus of Variations and Optimal Control; Optimization; Business and Management, general;
• 出版者：Springer Berlin Heidelberg
• ISSN：1436-6304
• 卷排序：39

文摘

We investigate the problem of jointly determining the optimal pricing and inventory replenishment strategy for a deterministic perishable inventory system in which demand is time and price dependent. The inventory is also assumed to decay at a certain rate. The seller has the opportunity to adjust prices for a discrete number of times at a certain cost during the sales season to influence demand and to improve revenues. We develop a mathematical model to find the optimal times to change the prices, the optimal prices and the optimal order quantity. We present analytical results to find the optimal prices when the times of price changes are given and design heuristic algorithms to determine the optimal times to change the prices. We analyze the efficiency of multiple pricing strategy by comparing the profits obtained by single pricing case and also analyze the effect of different parameters on the optimal solution through numerical experiments.