Optimal pricing and replenishment policies when consumer demand depends on the in-store inventory level.
Steffen JørgensenPeter M. KortPublished in: CDC (2000)
Keyphrases
- optimal pricing
- inventory level
- lead time
- optimal policy
- lost sales
- total cost
- expected cost
- single product
- dynamic pricing
- production system
- long run
- inventory control
- pricing strategies
- state dependent
- bullwhip effect
- inventory systems
- customer demand
- periodic review
- single stage
- order quantity
- stochastic process
- infinite horizon
- single period
- production cost
- revenue management
- supply chain
- holding cost
- single item
- inventory models
- production rate
- inventory management
- finite horizon
- markov decision processes
- fixed cost
- cost function
- service level
- multistage
- stochastic demand
- decision problems
- software agents
- pricing model
- state space
- dynamic programming