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The single period problem with price discount and probabilistic initial inventory
, Article 2006 IIE Annual Conference and Exposition, Orlando, FL, 20 May 2006 through 24 May 2006 ; 2006 ; Haji, M ; Sharif University of Technology
2006
Abstract
In this paper we consider a newsvendor problem in which the suppliers offer quantity discounts. We assume that the initial inventory at the beginning of the period is a random variable. This assumption, among other applications, may apply to the case where the decision about the order quantity must be made at a time long before the start of the period and the available inventory may decrease due to several factors, such as deterioration, consumption, etc. up to the start of the period. In this paper, we obtain the optimal order quantity that maximizes the total profit for this model
Joint Inventory Planning and Bundle Pricing with Considering Customer Behavior
, M.Sc. Thesis Sharif University of Technology ; Shavandi, Hassan (Supervisor)
Abstract
In this study, we consider a newsvendor problem. The newsvendor in addition to determine order quantities must also determine the selling price of each product. The demand of each product is of a stochastic nature and depends on the selling price. It is assumed that products are cross-elastic. We also assume that retailers want to apply mixed bundling strategy. It means that in addition to selling products separately, they sell them as bundles. Two types of two-steps algorithms (p-constant, q-constant) were proposed. First we applied these algorithms for newsvendor problem with 2 single products and 1 bundle. After demonstrating its efficiency, algorithms were developed for solving problems...
Production planning problem with pricing under random yield: CVaR criterion
, Article Journal of Systems Science and Systems Engineering ; Vol. 23, issue. 3 , 2014 , p. 312-328 ; Eshghi, K ; Modarres Yazdi, M ; Bahramgiri, M ; Sharif University of Technology
Abstract
In this paper, we address a basic production planning problem with price dependent demand and stochastic yield of production. We use price and target quantity as decision variables to lower the risk of low yield. The value of risk control becomes more important especially for products with short life cycle. This is because, the profit implications of low yield might be unbearable in the short run. We apply Conditional Value at Risk (CVaR) to model the risk. CVaR measure is a coherent risk measure and thereby having nice conceptual and mathematical underpinnings. It is also widely used in practice. We consider the problem under general demand function and general distribution function of...
Introducing a Strategy for Decision Making in a Multi-Period News-Vendor Problem with Multiple Markets
, M.Sc. Thesis Sharif University of Technology ; Haji, Alireza (Supervisor)
Abstract
In this paper, we introduce a novel decision making strategy on how to assign markets to a multi-item newsvendor’s problem. We present a new formulation method based on the integration of news-vendor problem and dynamic programming approach alongside an efficient solution method. Suppose there are n distinct products and corresponding time intervals for selling them in different markets. These products will be worthless (perishable) at the end of each interval. Our proposed framework represents a trade-off between costs associated with staying in a market for further periods and costs of relocating the business in a new market. The objective is to maximize the total profit of our decisions...