Coordinating inventory control and pricing strategies: The continuous review model

Coordinating inventory control and pricing strategies: The continuous review model

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Article ID: iaor20062430
Country: Netherlands
Volume: 34
Issue: 3
Start Page Number: 323
End Page Number: 332
Publication Date: May 2006
Journal: Operations Research Letters
Authors: ,
Keywords: stochastic processes
Abstract:

We analyze an infinite horizon, single product, continuous review model in which pricing and inventory decisions are made simultaneously and ordering cost includes a fixed cost. We show that there exists a stationary (s,S) inventory policy maximizing the expected discounted or expected average profit under general conditions.

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