Title :
Retailer´s Ordering Policy for Two Substitutable Products with Dependent Random Demands
Author_Institution :
Sch. of Math., Southwest Jiaotong Univ., Chengdu, China
Abstract :
This study considers retailer´s ordering policy for two substitutable products. The demands for the two products are dependent random variables, which yield a known joint distribution. The retailer´s optimal ordering policy is derived under general conditions. A numerical example and sensitivity analysis of main parameters of the model are provided.
Keywords :
retail data processing; dependent random demands; joint distribution; retailer ordering policy; sensitivity analysis; substitutable products; Analytical models; Biological system modeling; Joints; Mathematical model; Sensitivity analysis; Stochastic processes;
Conference_Titel :
E-Product E-Service and E-Entertainment (ICEEE), 2010 International Conference on
Conference_Location :
Henan
Print_ISBN :
978-1-4244-7159-1
DOI :
10.1109/ICEEE.2010.5660189
