Optimal credit term, order quantity and selling price for perishable products when demand depends on selling price, expiration date, and credit period.
Ruihai LiJinn-Tsair TengYingfei ZhengPublished in: Ann. Oper. Res. (2019)
Keyphrases
- planning horizon
- lead time
- order quantity
- ordering policy
- single product
- inventory systems
- reorder point
- periodic review
- lost sales
- expected profit
- service level
- lot sizing
- finite horizon
- stochastic demand
- ordering cost
- supply chain
- customer demand
- single item
- inventory level
- total cost
- economic order quantity
- inventory control
- expected cost
- yield management
- holding cost
- raw material
- multi item
- single stage
- batch size
- inventory models
- production cost
- lot size
- random variables
- inventory management
- single period
- optimal policy
- fixed cost
- setup cost
- production planning
- infinite horizon
- capacity expansion
- standard deviation
- dynamic programming
- multistage
- reinforcement learning
- optimal solution
- optimal strategy
- inventory policy
- decision making