DocumentCode
569101
Title
Application of Optimal Control Theory to False Failure Returns
Author
Peng, Yang
Author_Institution
Sch. of Comput. Sci. & Technol., Tianjin Univ. of Technol., Tianjin, China
fYear
2012
fDate
July 31 2012-Aug. 2 2012
Firstpage
253
Lastpage
256
Abstract
This study investigates the impact of retail price and sale service investment on customer demand and false failure return under dynamic environment. We apply optimal control theory to a profit-maximization model that takes into consideration the price and sale service investment. The optimal strategies are obtained under two certain special conditions. The result of this paper can advise the control of false failure returns under dynamic environment.
Keywords
dynamic programming; optimal control; customer demand; dynamic environment; false failure returns; optimal control theory; profit maximization model; retail price; sale service investment; Computational modeling; Investments; Marketing and sales; Optimal control; Pricing; Stochastic processes; Warranties; false failure returns; optimal control; price; sale service;
fLanguage
English
Publisher
ieee
Conference_Titel
Digital Manufacturing and Automation (ICDMA), 2012 Third International Conference on
Conference_Location
GuiLin
Print_ISBN
978-1-4673-2217-1
Type
conf
DOI
10.1109/ICDMA.2012.61
Filename
6298301
Link To Document