A variant SDDP approach for periodic-review approximately optimal pricing of a slow-moving a item in a duopoly under price protection with end-of-life return and retail fixed markdown policy.
Baris YildizMuhammed SütçüPublished in: Expert Syst. Appl. (2023)
Keyphrases
- optimal pricing
- single product
- periodic review
- ordering cost
- pricing strategies
- optimal policy
- inventory control
- inventory level
- finite horizon
- supply chain
- lead time
- inventory systems
- dynamic pricing
- infinite horizon
- single stage
- lost sales
- revenue management
- inventory models
- total cost
- long run
- single item
- expected cost
- pricing model
- setup cost
- stochastic demand
- customer demand
- state dependent
- planning horizon
- multistage
- inventory management
- state space
- reinforcement learning
- fixed cost
- multi item
- decision problems
- software agents
- markov decision processes
- production system
- dynamic programming
- sufficient conditions
- learning algorithm
- asymptotically optimal
- service level