Optimal Replenishment and Optimal Pricing Decisions when a Retailer Sells New and Old Generation Products together
For the demands of new and old generation products existing together, the optimal decisions problem for two generations production need be considered by retailer. New generation product can satisfy the demand for old generation production, but retailer need decide the substitution price. When the demand is stochastic, for maximizing expectation profits, the optimal replenishment quantity and optimal price need be determined. A single period stochastic inventory model was formulated. The uniqueness and existence of optimal decisions were proved, and the conditions that the optimal decisions should satisfy were obtained. The final, the expressions of the optimal condition under the uniform distribution were given.
Substitution Stochastic Inventory Multi-generation Production
Yancong Zhou Wei Jie Xiaochen Sun Limin Sun
School of Information Engineering, Tianjin University of Commerce, Tianjin 300134 General courses department, Academy of Military Transportation, Tianjin 300161 School of Sciences, Tianjin University, Tianjin 300071
国际会议
2009年中国控制与决策会议(2009 Chinese Control and Decision Conference)
广西桂林
英文
391-394
2009-06-17(万方平台首次上网日期,不代表论文的发表时间)