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Joint Inventory Planning and Bundle Pricing with Considering Customer Behavior

Hamidian, Nooshin | 2012

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 44048 (01)
  4. University: Sharif University of Technology
  5. Department: Industrial Engineering
  6. Advisor(s): Shavandi, Hassan
  7. Abstract:
  8. 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 with n products. For proving efficiency of our algorithm, we used complete count method for solving small sized problems and their optimum solutions were computed, then we compared them with the solution from our proposed algorithms. Then q-constant algorithm was developed due to solve problems with more than 2 products. Also we proposed 2-stage algorithm for increasing efficiency of solving problems with more than 2 products. Finally efficiency of this algorithm was proved according to comparing the solution from proposed algorithm with optimum solutions. These algorithms are based on multi-directional search algorithm and Nest Partitioning algorithm and benefit from both global search and local search
  9. Keywords:
  10. Nested Partition Algorithm ; Newsvendor Problem ; Bundle Pricing ; Multiple Product ; Multidirect Search

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