Title of article
Pricing andinventorymanagementinasystemwithmultiplecompeting retailers under(r, Q) policies
Author/Authors
Ruoxi Guan، نويسنده , , XiaoboZhao ، نويسنده ,
Issue Information
ماهنامه با شماره پیاپی سال 2011
Pages
11
From page
1294
To page
1304
Abstract
We consideramulti-retailersystemoperatedonaninfinitehorizon,inwhicheachretailerfaces
stochasticdemandfollowingaPoissonprocessandadoptsacontinuous-review(r, Q) policyfor
replenishinginventorytosatisfycustomerdemand.Thesysteminvolvesdecisionsofpricingand
inventorymanagementwiththegoalofmaximizingprofit,whichequalsthesalesrevenueminusthe
purchase andinventorycosts.TakingCournotcompetitionintoaccount,modelsareformulatedto
optimizesimultaneouslytheexpectedsalesvolumesand(r, Q) policiesofallretailers.Anefficient
approachisproposedtocalculatetheapproximateinventorycost.Basedonthisapproach,solution
methodsforcentralizedanddecentralizedscenariosaredeveloped.Agreatnumberofnumerical
computationsareprovidedtoevaluatetheefficiencyofthesolutionmethods,andtheirperformancein
the twoscenarios.Moreover,systemperformanceundersequentialdecisions(firstpricingandthen
inventorymanagement)isalsoinvestigated.
Keywords
(r , Q) policy , Game , Pricing , Cournot competition , Inventory management
Journal title
Computers and Operations Research
Serial Year
2011
Journal title
Computers and Operations Research
Record number
927947
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