An optimal inventory pricing and ordering strategy subject to demand dependent on stock level and price

Article English OPEN
Tsoularis, A;
  • Subject:
    arxiv: Computer Science::Computer Science and Game Theory

This article considers the deterministic singular optimal control problem of profit maximisation for inventory replenished at a variable rate and depleted by demand which is assumed to vary with price and stock availability. Optimal policies for the product order rate a... View more
  • References (25)
    25 references, page 1 of 3

    Arcelus, F.J. and Srinivasan, G. (1987) 'Inventory policies under various optimizing criteria and variable mark-up rates', Management Science, Vol. 33, No. 6, pp.756-752.

    Baker, R.C. and Urban, T.L. (1988) 'A deterministic inventory model with an inventory-level-dependent demand', Journal of the Operational Research Society, Vol. 39, No. 9, pp.823-831.

    Balakrishnan, A., Pangburn, M.S. and Stavrulaki, E. (2004) '“Stack them high, let'em fly”: lot-sizing policies when inventories stimulate demand', Management Science, Vol. 50, No. 5, pp.630-344.

    Chang, C-T., Chen, Y.J., Tsai, T-R. and Wu, S-J. (2010) 'Inventory models with stock- and price-dependent demand for deteriorating items based on limited shelf space', Yugoslav Journal of Operations Research, Vol. 20, No. 1, pp.55-69.

    Chiang, A.C. (1992) Elements of Dynamic Optimization, McGraw-Hill, New York.

    Datta, T.K. and Karabi, P. (2001) 'An inventory system with stock-dependent, price-sensitive demand rate', Production Planning and Control, Vol. 12, No. 1, pp.13-20.

    Gallego, G. and Ryzin, G.V. (1994) 'Optimal dynamic pricing of inventories with stochastic demand over finite horizon', Management Science, Vol. 40, No. 8, pp.999-1020.

    Gerchak, Y. and Wang, Y. (1994) 'Periodic review inventory models with inventory-level dependent demand', Naval Research Logistics, Vol. 41, No. 1, pp.99-116.

    Jørgensen, S. and Kort, P.M. (2002) 'Optimal pricing and inventory policies: Centralized and decentralized decision making', European Journal of Operational Research, Vol. 138, No. 3, pp.578-600.

    Kamien, M.I. and Schwartz, N.L. (1971) 'Sufficient conditions in optimal control theory', Journal of Economic Theory, Vol. 3, No. 2, pp.207-214.

  • Related Organizations (1)
  • Metrics
Share - Bookmark