Single Period Inventory Control and Pricing

Emel Arikan

ISBN 10: 3631612222 / ISBN 13: 9783631612224

Published by Peter Lang, Peter Lang Mär 2011, 2011

About this Item

Neuware -The price-setting newsvendor model is used to address the single period joint pricing and inventory control problem. The objective is to set the optimal price and replenishment quantity of a single product in order to maximize the expected profit. Products with a short selling season and relatively long replenishment lead times such as fashion goods are the most relevant application areas of the model. The focus of the work is the generalization of the model with respect to the modeling of uncertainty in demand. The author presents an analytical and empirical study which compares different demand models with a more flexible model based on price and inventory optimization. She concludes that using a general model can increase the profits significantly. 118 pp. Englisch.

Seller Inventory # 9783631612224

Bibliographic Details

• Title: Single Period Inventory Control and Pricing
• Publisher: Peter Lang, Peter Lang Mär 2011
• Publication Date: 2011
• Language: English
• ISBN 10: 3631612222
• ISBN 13: 9783631612224
• Binding: Buch
• Condition: Neu
• Dimensions: 216W x 153H x 10D millimeters 216 millimeters width by 153 millimeters height by 10 millimeters depth
• Weight: 275 grams

About this title

Synopsis

The price-setting newsvendor model is used to address the single period joint pricing and inventory control problem. The objective is to set the optimal price and replenishment quantity of a single product in order to maximize the expected profit. Products with a short selling season and relatively long replenishment lead times such as fashion goods are the most relevant application areas of the model. The focus of the work is the generalization of the model with respect to the modeling of uncertainty in demand. The author presents an analytical and empirical study which compares different demand models with a more flexible model based on price and inventory optimization. She concludes that using a general model can increase the profits significantly.

About the Author

Emel Arıkan holds an M.Sc. in Industrial Engineering and a doctoral degree in Social and Economic Sciences. She worked as researcher and lecturer at the Institute for Production Management at the Vienna University of Economics and Business. Her research interests include Operations Management, Inventory Control and Pricing.