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Simultaneous Dynamic Pricing and Lot-sizing Decision for a Discrete Number of Price Variations

In: Operations Research Proceedings 2005

Author

Listed:
  • Sandra Transchel

    (University of Mannheim)

  • Stefan Minner

    (University of Mannheim)

Abstract

We investigate the impact of a dynamic pricing strategy on the economic ordering decision where a discrete number of price changes within each order cycle is allowed. Customer reaction to prices is modelled by a linear price response function and the ordering process is subject to variable procurement cost and setup cost. Inventories are subject to holding cost. The objective is to maximize average profit by choosing the optimal lot-size and pricing strategy.

Suggested Citation

  • Sandra Transchel & Stefan Minner, 2006. "Simultaneous Dynamic Pricing and Lot-sizing Decision for a Discrete Number of Price Variations," Operations Research Proceedings, in: Hans-Dietrich Haasis & Herbert Kopfer & Jörn Schönberger (ed.), Operations Research Proceedings 2005, pages 585-590, Springer.
    • Handle: RePEc:spr:oprchp:978-3-540-32539-0_92
    DOI: 10.1007/3-540-32539-5_92
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