@inproceedings{4db14e6547c74c4b935924a9dcb9a4a0,
title = "Coordinated pricing and order-up-to level for a perishable item with price and stock-dependent demand",
abstract = "We consider a retailer who sells a perishable item that is subject to the effect of fixed lifetime, facing a price and stock-level dependent demand rate under the last-in-first-out issuing policy. Our model is a generalized version of the previous work by considering the selling price as a decision variable and taking net discount rate of inflation into account for the newsboy problem. The objective of the model is to jointly determine the optimal selling price, base-stock level, and inventory cycle over infinite planning horizon so that the present worth of the net profit per unit time is maximized. Numerical results reveal that the pricing scheme is a more effective mechanism than the inventory control mechanism in the present worth of profit maximization.",
keywords = "Base-stock, Fixed lifetime, Net discount rate of inflation, Pricing",
author = "Chen, {Liang Tu} and Chien, {Mei Chen} and Chen, {Jen Ming}",
year = "2005",
language = "???core.languages.en_GB???",
isbn = "9755612653",
series = "Proceedings of the 35th International Conference on Computers and Industrial Engineering, ICC and IE 2005",
pages = "435--440",
booktitle = "Proceedings of the 35th International Conference on Computers and Industrial Engineering, ICC and IE 2005",
note = "35th International Conference on Computers and Industrial Engineering, ICC and IE 2005 ; Conference date: 19-06-2005 Through 22-06-2005",
}