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    Single Period Inventory Control and Pricing

    An Empirical and Analytical Study of a Generalized Model

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    Author(s)
    Arikan, Emel
    Language
    English
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    Abstract
    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.
    URI
    http://library.oapen.org/handle/20.500.12657/26864
    Keywords
    Analytical; Arikan; Control; Empirical; Generalized; Inventory; Lagerhaltungsmodell; Model; Nachfrageverhalten; Optimierung; Period; Preispolitik; Pricing; Single; Study
    DOI
    10.3726/b13914
    ISBN
    9783631753941
    OCN
    1082972256
    Publisher
    Peter Lang International Academic Publishers
    Publisher website
    https://www.peterlang.com/
    Publication date and place
    Bern, 2018
    Series
    Forschungsergebnisse der Wirtschaftsuniversitaet Wien, 43
    Classification
    Monetary economics
    Pages
    116
    Rights
    https://creativecommons.org/licenses/by/4.0/legalcode
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    License

    • If not noted otherwise all contents are available under Attribution 4.0 International (CC BY 4.0)

    Credits

    • logo EU
    • This project received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 683680, 810640, 871069 and 964352.

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