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Ordering and pricing policies for random discount offerings and permissible shortages

Author

Listed:
  • F.J. Arcelus
  • T.P.M. Pakkala
  • G. Srinivasan

Abstract

This study develops the ordering and pricing policies of a retailer, confronted with a price-dependent demand and a vendor offering a discount on the wholesale/regular price during sales sub-periods, which are repeated randomly and last for a random amount of time. The inventory level forms a regenerative stochastic process, with regeneration points at the start of the discount sub-periods. The objective is to maximise the long run expected profit per unit time, expressed as a function the order quantity, reorder level and retail price for regular and discount sub-periods.

Suggested Citation

  • F.J. Arcelus & T.P.M. Pakkala & G. Srinivasan, 2007. "Ordering and pricing policies for random discount offerings and permissible shortages," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 2(4), pages 400-413.
    • Handle: RePEc:ids:ijores:v:2:y:2007:i:4:p:400-413
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    Cited by:

    1. Pinçe, Çerağ, 2021. "Forward Buying and Strategic Stockouts," European Journal of Operational Research, Elsevier, vol. 289(1), pages 118-131.

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