Zhang Jihong1; Chen Hongqiao2; Ding Xiaosong1; Li Xian1
Source Publicationjournalofsystemsscienceandcomplexity
AbstractAlong with the rapid development of economics and enhancement of industrialization, the power demand keeps rising and frequently creates mismatch between demand and supply in electricity. This provides miscellaneous energy buy-back programs with great opportunities. Such programs, when activated, offer certain amount of financial compensations to participants for reducing their energy consumption during peak time. They aim at encouraging participants to shift their electricity usage from peak to non-peak time, and thereby release the demand pressure during peak time. This paper considers a periodic-review joint pricing and inventory decision model under an energy buy-back program over finite planning horizons, in which the compensation levels, setup cost and additive random demand function are incorporated. The objective is to maximize a manufacturer's expected total profit. By using Veinott's conditions, it is shown that the manufacturer's optimal decision is a state dependent (s, S, P) policy under a peak market condition, or partly an (s, S, A, P) policy under the normal market condition.
Document Type期刊论文
Recommended Citation
GB/T 7714
Zhang Jihong,Chen Hongqiao,Ding Xiaosong,et al. pricingandinventorycontrolstrategyforaperiodicreviewenergybuybacksystem[J]. journalofsystemsscienceandcomplexity,2016,29(4):1018.
APA Zhang Jihong,Chen Hongqiao,Ding Xiaosong,&Li Xian.(2016).pricingandinventorycontrolstrategyforaperiodicreviewenergybuybacksystem.journalofsystemsscienceandcomplexity,29(4),1018.
MLA Zhang Jihong,et al."pricingandinventorycontrolstrategyforaperiodicreviewenergybuybacksystem".journalofsystemsscienceandcomplexity 29.4(2016):1018.
Files in This Item:
There are no files associated with this item.
Related Services
Recommend this item
Usage statistics
Export to Endnote
Google Scholar
Similar articles in Google Scholar
[Zhang Jihong]'s Articles
[Chen Hongqiao]'s Articles
[Ding Xiaosong]'s Articles
Baidu academic
Similar articles in Baidu academic
[Zhang Jihong]'s Articles
[Chen Hongqiao]'s Articles
[Ding Xiaosong]'s Articles
Bing Scholar
Similar articles in Bing Scholar
[Zhang Jihong]'s Articles
[Chen Hongqiao]'s Articles
[Ding Xiaosong]'s Articles
Terms of Use
No data!
Social Bookmark/Share
All comments (0)
No comment.

Items in the repository are protected by copyright, with all rights reserved, unless otherwise indicated.