A Computational Approach for Optimal Joint Inventory-Pricing Control in an Infinite-Horizon Periodic-Review System

This note considers a joint inventory-pricing control problem in an infinite-horizon periodic-review system. Demand in a period is random and depends on the posted price. Besides the holding and shortage costs, the system incurs inventoryreplenishment costs that consist of both variable and fixed co...

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Veröffentlicht in:	Operations research 2011-09, Vol.59 (5), p.1297-1303
Hauptverfasser:	Feng, Youyi, Youhua (Frank) Chen
Format:	Artikel
Sprache:	eng
Schlagworte:	Algorithms Analysis Applied sciences Carrying costs Cost control Decision theory Engineering management Exact sciences and technology Inventories Inventory control Inventory control, production control. Distribution Logistics Long run profit maximization Methods Operational research and scientific management Operational research. Management science Optimal policy Price vector Pricing Stochastic models Studies TECHNICAL NOTES Variable costs
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