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Single Period Inventory Control and Pricing: An Empirical and Analytical Study of a Generalized Model

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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.

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Series Title

Forschungsergebnisse der Wirtschaftsuniversitaet Wien

Call Number

332.4 ARI s

Publisher

Bern : Peter Lang International Academic Publishers., 2018

Collation

116

Language

English

ISBN/ISSN

9783631753941

Classification

332.4

Content Type

text

Media Type

computer

Carrier Type

online resource

Edition

Ed. 1

Subject(s)

Monetary Economics

Specific Detail Info

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Statement of Responsibility

Emel Arikan

Other Information

Cataloger

umi

Source

http://library.oapen.org/handle/20.500.12657/26864

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