Optimizing the pricing and replenishment policy for non-instantaneous deteriorating items with stochastic demand and promotional efforts.
Reza MaihamiBehrooz KarimiPublished in: Comput. Oper. Res. (2014)
Keyphrases
- replenishment policy
- stochastic demand
- lead time
- single item
- infinite horizon
- inventory control
- lot sizing
- supply chain
- service level
- inventory systems
- upper bound
- lost sales
- long run
- random variables
- finite horizon
- planning horizon
- setup cost
- holding cost
- joint replenishment
- customer demand
- order quantity
- special case
- multi item
- combinatorial auctions
- total cost
- markov decision processes
- dynamic programming
- inventory level
- production planning
- utility function
- markov chain
- inventory models
- control system