Optimal order quantity and pricing decisions in single-period inventory systems

Optimal order quantity and pricing decisions in single-period inventory systems

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Article ID: iaor1992845
Country: Netherlands
Volume: 23
Issue: 1/3
Start Page Number: 175
End Page Number: 185
Publication Date: Oct 1991
Journal: International Journal of Production Economics
Authors:
Abstract:

The paper considers simultaneous pricing and procurement decisions associated with a one-period pure inventory model under deterministic or probabilistic demand. It investigates the necessary and sufficient conditions for an (σ,Σ) type policy to be optimal for the determination of the procurement quantity. The paper also shows how the corresponding optimal price can be obtained.

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