Technical Note-A Note on the Structure of Joint Inventory-Pricing Control with Leadtimes

• 成果类型: Article
• 署名作者: Pang, Zhan; Chen, Frank Y.; Feng, Youyi
• 署名单位: Lancaster University; City University of Hong Kong
• 刊物名称: OPERATIONS RESEARCH
• ISSN/ISSBN: 0030-364X
• DOI: 10.1287/opre.1120.1052
• 发表日期: 2012
• 页码: 581-587
• 关键词: to-order systems; demand; optimization; product; cost

摘要

We consider a joint inventory-pricing control problem for a periodic-review, single-stage inventory system with a positive order leadtime and a linear order cost. Demands in consecutive periods are independent, but their distributions depend on the price in accordance with a stochastic demand function of additive form. Pricing and ordering decisions are made simultaneously at the beginning of each period. The objective is to maximize the total expected discounted profit over a finite horizon. We partially characterize the structure of the optimal joint ordering and pricing policies. We also show that our structural analysis can be extended to a multistage (or serial) inventory system with constant or stochastic leadtimes and an assemble-to-order system with price-sensitive demand.