Optimal order quantity and pricing decisions in single-period inventory systems

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Optimal order quantity and pricing decisions in single-period inventory systems.pdf (667.77 KB)

Date

1991

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Source Title

International Journal of Production Economics

Print ISSN

0925-5273

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Volume

23

Issue

1-3

Pages

175 - 185

Language

English

Type

Article

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Abstract

In this paper, we consider simultaneous pricing and procurement decisions associated with a one-period pure inventory model under deterministic or probabilistic demand. We investigate the necessary and sufficient conditions for an (σ, Σ) type policy to be optimal for the determination of the procurement quantity. We also show how the corresponding optimal price can be obtained. © 1991.

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Keywords

Decision Theory And Analysis , Inventory Control--Costs , Marketing--Management , Technological Forecasting , Deterministic Demand , Pricing Decisions , Probabilistic Demand , Procurement Quantity , Inventory Control

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http://hdl.handle.net/11693/26190

Published Version (Please cite this version)

http://dx.doi.org/10.1016/0925-5273(91)90060-7

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Scholarly Publications - Industrial Engineering