Coordinating pricing and inventory control in a fluctuating environment

doi:10.1007/s10255-007-7093-7

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	Coordinating pricing and inventory control in a fluctuating environment
	Zhang, Ju-liang 1; Chen, Jian 2; Zhang, Xiang-sun3
	2010-04-01
发表期刊	ACTA MATHEMATICAE APPLICATAE SINICA-ENGLISH SERIES
ISSN	0168-9673
卷号	26 期号:2 页码:187-204
摘要	This paper addresses the simultaneous determination of pricing and inventory replenishment strategies under a fluctuating environment. Specifically, we analyze the single item, periodic review model. The demand consists of two parts: the deterministic component, which is influenced by the price, and the stochastic component (perturbation). The distribution of the stochastic component is determined by the current state of an exogenous Markov chain. The price that is charged in any given period can be specified dynamically. A replenishment order may be placed at the beginning of some or all of the periods, and stockouts are fully backlogged. Ordering costs that are lower semicontinuous, and inventory/backlog (or surplus) costs that are continuous with polynomial growth. Finite-horizon and infinite-horizon problems are addressed. Existence of optimal policies is established. Furthermore, optimality of (s,S,p)-type policies is proved when the ordering cost consists of fixed and proportional cost components and the surplus cost (these costs are all state-dependent) is convex.
关键词	Stochastic inventory management Markov chains pricing finite horizon infinite horizon
DOI	10.1007/s10255-007-7093-7
语种	英语
资助项目	National Natural Science Foundation of China[70621061] ; National Natural Science Foundation of China[70890082] ; National Natural Science Foundation of China[70671100] ; Science Foundation of Beijing Jiaotong University[2007RC014]
WOS研究方向	Mathematics
WOS类目	Mathematics, Applied
WOS记录号	WOS:000275746800002
出版者	SPRINGER HEIDELBERG
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/10852
专题	应用数学研究所
通讯作者	Zhang, Ju-liang
作者单位	1.Beijing Jiaotong Univ, Sch Econ & Management, Dept Logist Management, Beijing 100044, Peoples R China 2.Tsinghua Univ, Sch Econ & Management, Dept Management Sci & Engn, Beijing 100084, Peoples R China 3.Chinese Acad Sci, Acad Math & Syst Sci, Inst Appl Math, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Zhang, Ju-liang,Chen, Jian,Zhang, Xiang-sun. Coordinating pricing and inventory control in a fluctuating environment[J]. ACTA MATHEMATICAE APPLICATAE SINICA-ENGLISH SERIES,2010,26(2):187-204.
APA	Zhang, Ju-liang,Chen, Jian,&Zhang, Xiang-sun.(2010).Coordinating pricing and inventory control in a fluctuating environment.ACTA MATHEMATICAE APPLICATAE SINICA-ENGLISH SERIES,26(2),187-204.
MLA	Zhang, Ju-liang,et al."Coordinating pricing and inventory control in a fluctuating environment".ACTA MATHEMATICAE APPLICATAE SINICA-ENGLISH SERIES 26.2(2010):187-204.