A single-period stochastic inventory model under the influence of marketing policies

A single-period stochastic inventory model under the influence of marketing policies

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Article ID: iaor19911881
Country: United Kingdom
Volume: 42
Issue: 2
Start Page Number: 173
End Page Number: 176
Publication Date: Feb 1991
Journal: Journal of the Operational Research Society
Authors: ,
Abstract:

A single-period stochastic inventory model is developed under different marketing policies using the concepts of fixed prices and fixed mark-up of prices where discounts are offered on bulk purchases. In the mathematical model shortages are allowed, and it is assumed that any unit unsold at the end of the period has no economic value. The model yields simple solutions for some particular demand distributions. It is illustrated with a suitable example.

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