Pricing and Inventory Control for a Perishable Product

• 成果类型: Article
• 署名作者: Li, Yanzhi; Lim, Andrew; Rodrigues, Brian
• 署名单位: City University of Hong Kong; Singapore Management University
• 刊物名称: M&SOM-MANUFACTURING & SERVICE OPERATIONS MANAGEMENT
• ISSN/ISSBN: 1523-4614
• DOI: 10.1287/msom.1080.0238
• 发表日期: 2009
• 页码: 538-542
• 关键词: perishable; pricing and inventory control

摘要

In this note, we study the concurrent determination of pricing and inventory replenishment decisions for a perishable product in an infinite horizon. Demands in consecutive periods are independent and influenced by prices charged in each period. In particular, we treat price as a decision variable to maximize the total discounted profit. We analyze the optimal solution-structure of a two-period lifetime problem and from insights gained in numerical experiments, develop a base-stock/list-price heuristic policy for products with arbitrary fixed lifetimes. Experiments show this policy to be effective.