Single Period Inventory Control and Pricing (Volume 43.0)
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Single Period Inventory Control and Pricing (Volume 43.0)

Emel Arikan

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eBook - PDF

Single Period Inventory Control and Pricing (Volume 43.0)

Emel Arikan

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About This Book

The price-setting newsvendor model is used to address the single period joint pricing and inventory control problem. The objective is to set the optimal price and replenishment quantity of a single product in order to maximize the expected profit. Products with a short selling season and relatively long replenishment lead times such as fashion goods are the most relevant application areas of the model. The focus of the work is the generalization of the model with respect to the modeling of uncertainty in demand. The author presents an analytical and empirical study which compares different demand models with a more flexible model based on price and inventory optimization. She concludes that using a general model can increase the profits significantly.

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Information

Publisher
Peter Lang International Academic Publishers
Year
2018
ISBN
9783631612224
Topic
Economics
Subtopic
Economic Theory
Index
Economics

Table of contents