Dynamic Inventory-Pricing Control Under Backorder: Demand Estimation and Policy Optimization.
Qi FengSirong LuoDan ZhangPublished in: Manuf. Serv. Oper. Manag. (2014)
Keyphrases
- lost sales
- dynamic pricing
- lead time
- periodic review
- holding cost
- inventory replenishment
- total cost
- single product
- revenue management
- pricing strategies
- order quantity
- inventory systems
- inventory control
- optimal policy
- stochastic demand
- demand function
- lot size
- infinite horizon
- optimal pricing
- pricing mechanism
- inventory models
- inventory management
- supply chain
- finite horizon
- single stage
- ordering cost
- service level
- inventory level
- single item
- production inventory
- setup cost
- inventory policy
- profit maximization
- planning horizon
- multi item
- expected cost
- lot sizing
- single period
- replenishment policy
- inventory costs
- arrival rate
- raw material
- control strategy
- optimal control
- supply chain management
- base stock policies
- asymptotically optimal
- inventory holding
- stochastic inventory
- pricing model
- control policies
- multistage
- demand uncertainty
- markov decision processes
- uncertain demand