Coordinating Inventory Control and Pricing Strategies with Random Demand and Fixed Ordering Cost

@article{Chen2003CoordinatingIC,
  title={Coordinating Inventory Control and Pricing Strategies with Random Demand and Fixed Ordering Cost},
  author={Xin Chen},
  journal={Manufacturing & Service Operations Management},
  year={2003},
  volume={5},
  pages={59-62}
}
We analyze a finite horizon, single product, periodic review model in which pricing and production/inventory decisions are made simultaneously. Demands in different periods are random variables that are independent of each other and their distributions depend on the product price. Pricing and ordering decisions are made at the beginning of each period and all shortages are backlogged. Ordering cost includes both a fixed cost and a variable cost proportional to the amount ordered. The objective… CONTINUE READING

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