NDLI: A joint decision model of product variety, inventory control and pricing

Content Provider	IEEE Xplore Digital Library
Author	Wu Haining Gao Junjun
Copyright Year	2009
Description	Author affiliation: Sydney Institute of Language and Commerce, Shanghai University, Shanghai 201800, China (Wu Haining; Gao Junjun)
Abstract	The problem of jointly determining the product variety decision with inventory control decision and pricing decision for different items of a certain brand product is studied in this paper. The market demand of this assortment of products is described as a function of time, price, seasonal factor and random factor, and the total profit of this brand and its service level at the retailer are both given. Based on it, a nonlinear integer programming model to maximize total multi-period profits subject to given stocking space, budgetary and service level constraints is established. The computational results show that by using this joint decision model, the profit of the retailer could be 5 times more than the before. The result shows that as the centralized coordinator, the manufacturer will enhance greatly the whole system's competence of obtaining profit by taking the profit maximization of distribution system as its' strategic goal.
Starting Page	400
Ending Page	404
File Size	340765
Page Count	5
File Format	PDF
ISBN	9781424436712
DOI	10.1109/ICIEEM.2009.5344564
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-10-21
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Constraint optimization Supply chain management Pricing Switches Inventory control Cost function Linear programming Customer service Integrated circuit modeling Product variety Business Joint decision model
Content Type	Text
Resource Type	Article

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