Optimal pricing and production lot-size policies in imperfect production system with price-sensitive demand, reworking, scrap, and sales return.
C. K. SivashankariR. ValarmathiPublished in: Oper. Res. (2023)
Keyphrases
- optimal pricing
- production system
- lot size
- production process
- dynamic pricing
- inventory level
- planning horizon
- multistage
- admission control
- inventory costs
- single product
- production rate
- optimal production
- lead time
- optimal policy
- total cost
- lot sizing
- finite horizon
- revenue management
- lost sales
- production cost
- supply chain management
- inventory control
- production line
- single stage
- pricing strategies
- raw material
- inventory models
- periodic review
- optimal solution
- customer demand
- inventory systems
- markov decision processes
- single item
- integer programming
- setup cost
- mixed integer programming
- expert systems
- expected cost