Price dependent procurement decisions in one-period inventory problem
Date
1989
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Şahin, İzzet
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Bilkent University
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English
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Abstract
In this work the classical newsboy model is extended by introducing a price dependent demand pattern. It is intended to obtain optimal procurement and pricing decisions for maximizing the expected profit. It is shown that, both decisions can be made simultaneously if we are able to identify the effects of price on the demand process.