Optimal pricing in a service-inventory system with delay-sensitive customers and lost sales.
Jinting WangXuelu ZhangPublished in: Int. J. Prod. Res. (2017)
Keyphrases
- optimal pricing
- inventory level
- lost sales
- optimal policy
- lead time
- single server
- total cost
- inventory systems
- expected cost
- inventory control
- inventory models
- state dependent
- pricing strategies
- inventory management
- single stage
- production system
- long run
- periodic review
- infinite horizon
- stochastic demand
- dynamic pricing
- customer demand
- single period
- service providers
- finite horizon
- admission control
- single product
- supply chain
- stochastic process
- fixed cost
- heavy traffic
- markov decision processes
- order quantity
- production cost
- reinforcement learning
- service level
- parallel machines
- dynamic programming
- sufficient conditions
- service quality
- single item
- optimal strategy
- decision problems
- steady state
- initial state
- service times
- special case