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Jointed inventory model on ordering and pricing: an extension for the newsboy model

Jointed inventory model on ordering and pricing: an extension for the newsboy model As a study foundation of supply chain coordination, the newsboy model and its extensions have attracted more and more scholars in the recent years. This paper investigates the jointed inventory problem on ordering and pricing for a short-life-cycle product. For a product characterised by a single manufacturing cycle and two selling periods, we depict the jointed decision problem from the view of the centralised system with a stochastic dynamic programming model and develop a jointed decision method for its ordering and pricing. Then, we design an iterative search algorithm to find the optimal decision vectors. Finally, we analyse the characteristics of the decision by running simulation examples. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Services Operations and Informatics Inderscience Publishers

Jointed inventory model on ordering and pricing: an extension for the newsboy model

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd. All rights reserved
ISSN
1741-539X
eISSN
1741-5403
Publisher site
See Article on Publisher Site

Abstract

As a study foundation of supply chain coordination, the newsboy model and its extensions have attracted more and more scholars in the recent years. This paper investigates the jointed inventory problem on ordering and pricing for a short-life-cycle product. For a product characterised by a single manufacturing cycle and two selling periods, we depict the jointed decision problem from the view of the centralised system with a stochastic dynamic programming model and develop a jointed decision method for its ordering and pricing. Then, we design an iterative search algorithm to find the optimal decision vectors. Finally, we analyse the characteristics of the decision by running simulation examples.

Journal

International Journal of Services Operations and InformaticsInderscience Publishers

Published: Jan 1, 2007

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