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A multi-product pricing-inventory model with stochastic demand and products interdependency

Inanlou Ganjiz, A. R ; Sharif University of Technology | 2010

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  1. Type of Document: Article
  2. DOI: 10.1109/ICIII.2010.219
  3. Publisher: 2010
  4. Abstract:
  5. In this paper, we study a pricing-inventory model with multiple interdependent products and stochastic demand. In the relevant literature, there are many researches that try to optimize the inventory or price independently and also optimizing joint inventory and pricing problems for single product. But joint optimization of inventory and pricing for multiple interdependent products is relatively new and still there are many potential research gaps in this area. We show that the multiplicative demand form problem, that we develop, is a convex nonlinear programming (NLP) model or is convertible to it. We also provide upper and lower bounds for the additive demand form model
  6. Keywords:
  7. Convex nonlinear programming ; Demand uncertainty ; Inventory models ; Inventory-pricing ; Joint optimization ; Multi-products ; Pricing problems ; Products interdependency ; Revenue management ; Single product ; Stochastic demand ; Upper and lower bounds ; Costs ; Industrial engineering ; Information management ; Innovation ; Inventory control ; Optimization ; Stochastic models ; Stochastic systems ; Economics
  8. Source: Proceedings - 3rd International Conference on Information Management, Innovation Management and Industrial Engineering, ICIII 2010, 26 November 2010 through 28 November 2010 ; Volume 2 , Nov , 2010 , Pages 227-231 ; 9780769542799 (ISBN)
  9. URL: http://ieeexplore.ieee.org/document/5694558