Optimal Pricing and Ordering Policy for Deteriorating Items with Stock-and-Price Dependent Demand and Presale Rebate.
Lianxia ZhaoJianxin YouPublished in: Sci. Program. (2016)
Keyphrases
- optimal pricing
- inventory level
- lost sales
- ordering policy
- order quantity
- planning horizon
- lead time
- expected cost
- total cost
- lot size
- inventory systems
- optimal policy
- stochastic demand
- inventory control
- production system
- infinite horizon
- dynamic pricing
- long run
- inventory management
- single stage
- fixed cost
- single product
- state dependent
- finite horizon
- customer demand
- stochastic process
- periodic review
- production cost
- pricing model
- pricing strategies
- cost function
- lot sizing
- decision problems
- state space
- markov decision processes
- dynamic programming
- batch size
- supply chain
- reinforcement learning
- stock price
- service level
- stationary distribution