Dynamic Pricing and Inventory Control - No Backorders under Uncertainty and Competition

ISBN-13: 9783836421430 / Angielski / Miękka / 2007 / 288 str.

Elodie Adida

Opis

Recently, revenue management has become popular in many industries suchas the airline, the supply chain, and the transportation industry. Decisionmakers realize that even small improvements in their operations can have asignificant impact on their profits. Nevertheless, determining pricing and inventoryoptimal policies in more realistic settings may not be a tractable task.Ignoring the potential inaccuracy of parameters may lead to a solution thatactually performs poorly, or even that violates some constraints. Finally, competitorsimpact a suppliers best strategy by influencing her demand, revenues,and field of possible actions. Taking a game theoretic approach anddetermining the equilibrium of the system can help understand its state inthe long run. This book presents a continuous time optimal control model forstudying a dynamic pricing and inventory control problem in a make-to-stockmulti-product capacitated manufacturing system, in the presence of data uncertainty,and in a duopoly setting.The book is addressed to professionals in the Revenue Management and Pricingindustry and researchers in Operations Research, Operations Management,and Industrial Engineering.