Inventory-Pricing Models with Multiple Interdependent Products and Demand Uncertainty

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Inanlou Ganji, Ali Reza | 2011

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 41455 (01)
University: Sharif University of Technology
Department: Industrial Engineering
Advisor(s): Shavandi, Hassan
Abstract:
In this research, a pricing-inventory model with multiple interdependent products and stochastic demand is studied. In the relevant literature, there are many researches that are related to optimize the inventory or price independently and also optimizing joint inventory and pricing 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 develop the model with additive and multiplicative demand uncertainty. Then we develop a genetic algorithm and tune its parameters to solve the models. We investigate the efficiency of proposed GA. Results were relatively good. Finally the effect of products interdependency is investigated. Results show that this effect is very large and significant for both additive and multiplicative models
Keywords:
Revenue Management ; Demand Uncertainty ; Genetic Algorithm ; Inventory-Pricing Model ; Multi Product Pricing

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