Author: Emel Arikan
Publisher:
ISBN:
Category :
Languages : en
Pages : 116
Book Description
The price-setting newsvendor model is used to address the single period joint pricing and inventory control problem. The objective is to set the optimal price and replenishment quantity of a single product in order to maximize the expected profit. Products with a short selling season and relatively long replenishment lead times such as fashion goods are the most relevant application areas of the model. The focus of the work is the generalization of the model with respect to the modeling of uncertainty in demand. The author presents an analytical and empirical study which compares different demand models with a more flexible model based on price and inventory optimization. She concludes that using a general model can increase the profits significantly.
Single Period Inventory Control and Pricing
Author: Emel Arikan
Publisher:
ISBN:
Category :
Languages : en
Pages : 116
Book Description
The price-setting newsvendor model is used to address the single period joint pricing and inventory control problem. The objective is to set the optimal price and replenishment quantity of a single product in order to maximize the expected profit. Products with a short selling season and relatively long replenishment lead times such as fashion goods are the most relevant application areas of the model. The focus of the work is the generalization of the model with respect to the modeling of uncertainty in demand. The author presents an analytical and empirical study which compares different demand models with a more flexible model based on price and inventory optimization. She concludes that using a general model can increase the profits significantly.
Publisher:
ISBN:
Category :
Languages : en
Pages : 116
Book Description
The price-setting newsvendor model is used to address the single period joint pricing and inventory control problem. The objective is to set the optimal price and replenishment quantity of a single product in order to maximize the expected profit. Products with a short selling season and relatively long replenishment lead times such as fashion goods are the most relevant application areas of the model. The focus of the work is the generalization of the model with respect to the modeling of uncertainty in demand. The author presents an analytical and empirical study which compares different demand models with a more flexible model based on price and inventory optimization. She concludes that using a general model can increase the profits significantly.
Single Period Inventory Control and Pricing
Author: Emel Arikan
Publisher: Forschungsergebnisse der Wirtschaftsuniversität Wien
ISBN: 9783631612224
Category : Business & Economics
Languages : en
Pages : 0
Book Description
The price-setting newsvendor model is used to address the single period joint pricing and inventory control problem. The objective is to set the optimal price and replenishment quantity of a single product in order to maximize the expected profit. Products with a short selling season and relatively long replenishment lead times such as fashion goods are the most relevant application areas of the model. The focus of the work is the generalization of the model with respect to the modeling of uncertainty in demand. The author presents an analytical and empirical study which compares different demand models with a more flexible model based on price and inventory optimization. She concludes that using a general model can increase the profits significantly.
Publisher: Forschungsergebnisse der Wirtschaftsuniversität Wien
ISBN: 9783631612224
Category : Business & Economics
Languages : en
Pages : 0
Book Description
The price-setting newsvendor model is used to address the single period joint pricing and inventory control problem. The objective is to set the optimal price and replenishment quantity of a single product in order to maximize the expected profit. Products with a short selling season and relatively long replenishment lead times such as fashion goods are the most relevant application areas of the model. The focus of the work is the generalization of the model with respect to the modeling of uncertainty in demand. The author presents an analytical and empirical study which compares different demand models with a more flexible model based on price and inventory optimization. She concludes that using a general model can increase the profits significantly.
Single Period Inventory Control and Pricing
Author: Emel Arikan
Publisher:
ISBN:
Category : Inventory control
Languages : en
Pages : 0
Book Description
Publisher:
ISBN:
Category : Inventory control
Languages : en
Pages : 0
Book Description
The Single-Period Inventory Model with Spectral Risk Measures
Author: Johannes Fichtinger
Publisher:
ISBN:
Category :
Languages : en
Pages : 132
Book Description
Inventory management and pricing decisions based on quantitative models both in industrial practice and academic works often rely on minimizing expected cost, which refers to the concept of risk-neutrality of the decision maker. Although many useful insights in operational problems can be obtained by such an approach, it is well understood that incorporating attitudes toward risk is an important lever for building new theories in other fields such as economics and finance. In this work spectral risk measures are applied to the price-setting newsvendor problem and optimal policies are derived. This allows to unify results obtained so far in the literature under the common concept of spectral risk measures for the case of zero and non-zero shortage penalty cost.
Publisher:
ISBN:
Category :
Languages : en
Pages : 132
Book Description
Inventory management and pricing decisions based on quantitative models both in industrial practice and academic works often rely on minimizing expected cost, which refers to the concept of risk-neutrality of the decision maker. Although many useful insights in operational problems can be obtained by such an approach, it is well understood that incorporating attitudes toward risk is an important lever for building new theories in other fields such as economics and finance. In this work spectral risk measures are applied to the price-setting newsvendor problem and optimal policies are derived. This allows to unify results obtained so far in the literature under the common concept of spectral risk measures for the case of zero and non-zero shortage penalty cost.
Inventory Control
Author: Dieter Bartmann
Publisher: Springer Science & Business Media
ISBN: 3642871461
Category : Business & Economics
Languages : en
Pages : 271
Book Description
Experts in operations research and developers of software application systems have been treading separate paths for many years. It is urgently necessary to reset this course so that the demanding requirements of variousCIM concepts can be realized. This is specially relevant for computer-based stock management. Both authors, with a number of years of practical experience behind them, have written this book with this objective in mind. The book shows how modern inventory control can be rationally structured with the help of OR. Two aspects are given importance:1) the necessary mathematical derivations are completely explained in detail so that the reader will be able to optimally handle a given situation with the help of the methods learned in this book, and 2) aside from the models, strong emphasis is given on numerical methods. Suitable algorithms are thoroughly explained for the more important cases.
Publisher: Springer Science & Business Media
ISBN: 3642871461
Category : Business & Economics
Languages : en
Pages : 271
Book Description
Experts in operations research and developers of software application systems have been treading separate paths for many years. It is urgently necessary to reset this course so that the demanding requirements of variousCIM concepts can be realized. This is specially relevant for computer-based stock management. Both authors, with a number of years of practical experience behind them, have written this book with this objective in mind. The book shows how modern inventory control can be rationally structured with the help of OR. Two aspects are given importance:1) the necessary mathematical derivations are completely explained in detail so that the reader will be able to optimally handle a given situation with the help of the methods learned in this book, and 2) aside from the models, strong emphasis is given on numerical methods. Suitable algorithms are thoroughly explained for the more important cases.
Integrated Models in Production Planning, Inventory, Quality, and Maintenance
Author: M.A. Rahim
Publisher: Springer Science & Business Media
ISBN: 1461516358
Category : Business & Economics
Languages : en
Pages : 452
Book Description
Production planning, inventory management, quality control, and maintenance policy are critical components of the manufacturing system. The effective integration of these four components gives a manufacturing operation the competitive edge in today's global market place. Integrated Models in Production Planning, Inventory, Quality, and Maintenance provides, in one volume, the latest developments in the integration of production, quality, and maintenance models. Prominent researchers, who are actively engaged in these areas, have contributed the topical chapters focused on the most recent issues in the area. In Part I, Ben-Daya and Rahim provide an overview of the literature dealing with integrated models for production, quality, and maintenance. Directions for future research are outlined. Part II contains six chapters (chapters 2 to 6) dealing with integrated models for production and maintenance. Part III deals with integrated production/inventory and quality models in chapters 7-11. Part IV focuses on quality and maintenance integrated models and contains two chapters. Part V deals with warranty, manufacturing, and quality and contains two chapters. Part VI addresses issues related to quality and contains three chapters (chapters 16-18).
Publisher: Springer Science & Business Media
ISBN: 1461516358
Category : Business & Economics
Languages : en
Pages : 452
Book Description
Production planning, inventory management, quality control, and maintenance policy are critical components of the manufacturing system. The effective integration of these four components gives a manufacturing operation the competitive edge in today's global market place. Integrated Models in Production Planning, Inventory, Quality, and Maintenance provides, in one volume, the latest developments in the integration of production, quality, and maintenance models. Prominent researchers, who are actively engaged in these areas, have contributed the topical chapters focused on the most recent issues in the area. In Part I, Ben-Daya and Rahim provide an overview of the literature dealing with integrated models for production, quality, and maintenance. Directions for future research are outlined. Part II contains six chapters (chapters 2 to 6) dealing with integrated models for production and maintenance. Part III deals with integrated production/inventory and quality models in chapters 7-11. Part IV focuses on quality and maintenance integrated models and contains two chapters. Part V deals with warranty, manufacturing, and quality and contains two chapters. Part VI addresses issues related to quality and contains three chapters (chapters 16-18).
The Single Period Inventory Model: Origins, Solutions, Variations, and Applications
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
The classic newspaper boy or single period inventory problem is reviewed, and its origins and development during the past 30 years are traced. The review reveals several variations for the classic problem, both in cost structure and in the decision principles involved. The critical role of costs and demand functions to solutions is examined. A large variety of potential applications for this model is summarized from the literature. Also, optimal solutions are derived for the constant surplus cost case and the exponential cost case. (Author).
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
The classic newspaper boy or single period inventory problem is reviewed, and its origins and development during the past 30 years are traced. The review reveals several variations for the classic problem, both in cost structure and in the decision principles involved. The critical role of costs and demand functions to solutions is examined. A large variety of potential applications for this model is summarized from the literature. Also, optimal solutions are derived for the constant surplus cost case and the exponential cost case. (Author).
The Single Period Inventory Model: Origins, Solutions, Variations, and Applications
Author: Junichi Masuda
Publisher:
ISBN:
Category :
Languages : en
Pages : 61
Book Description
The classic newspaper boy or single period inventory problem is reviewed, and its origins and development during the past 30 years are traced. The review reveals several variations for the classic problem, both in cost structure and in the decision principles involved. The critical role of costs and demand functions to solutions is examined. A large variety of potential applications for this model is summarized from the literature. Also, optimal solutions are derived for the constant surplus cost case and the exponential cost case. (Author).
Publisher:
ISBN:
Category :
Languages : en
Pages : 61
Book Description
The classic newspaper boy or single period inventory problem is reviewed, and its origins and development during the past 30 years are traced. The review reveals several variations for the classic problem, both in cost structure and in the decision principles involved. The critical role of costs and demand functions to solutions is examined. A large variety of potential applications for this model is summarized from the literature. Also, optimal solutions are derived for the constant surplus cost case and the exponential cost case. (Author).
Recent Advances in Intelligent Information Systems and Applied Mathematics
Author: Oscar Castillo
Publisher: Springer Nature
ISBN: 3030341526
Category : Technology & Engineering
Languages : en
Pages : 903
Book Description
This book describes the latest advances in intelligent techniques such as fuzzy logic, neural networks, and optimization algorithms, and their relevance in building intelligent information systems in combination with applied mathematics. The authors also outline the applications of these systems in areas like intelligent control and robotics, pattern recognition, medical diagnosis, time series prediction, and optimization of complex problems. By sharing fresh ideas and identifying new targets/problems it offers young researchers and students new directions for their future research. The book is intended for readers from mathematics and computer science, in particular professors and students working on theory and applications of intelligent systems for real-world applications.
Publisher: Springer Nature
ISBN: 3030341526
Category : Technology & Engineering
Languages : en
Pages : 903
Book Description
This book describes the latest advances in intelligent techniques such as fuzzy logic, neural networks, and optimization algorithms, and their relevance in building intelligent information systems in combination with applied mathematics. The authors also outline the applications of these systems in areas like intelligent control and robotics, pattern recognition, medical diagnosis, time series prediction, and optimization of complex problems. By sharing fresh ideas and identifying new targets/problems it offers young researchers and students new directions for their future research. The book is intended for readers from mathematics and computer science, in particular professors and students working on theory and applications of intelligent systems for real-world applications.
The Single-Period Inventory Model with Spectral Risk Measures
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Inventory management and pricing decisions based on quantitative models both in industrial practice and academic works often rely on minimizing expected cost, which refers to the concept of risk-neutrality of the decision maker. Although many useful insights in operational problems can be obtained by such an approach, it is well understood that incorporating attitudes toward risk is an important lever for building new theories in other fields such as economics and finance. In this work spectral risk measures are applied to the price-setting newsvendor problem and optimal policies are derived. This allows to unify results obtained so far in the literature under the common concept of spectral risk measures for the case of zero and non-zero shortage penalty cost.
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Inventory management and pricing decisions based on quantitative models both in industrial practice and academic works often rely on minimizing expected cost, which refers to the concept of risk-neutrality of the decision maker. Although many useful insights in operational problems can be obtained by such an approach, it is well understood that incorporating attitudes toward risk is an important lever for building new theories in other fields such as economics and finance. In this work spectral risk measures are applied to the price-setting newsvendor problem and optimal policies are derived. This allows to unify results obtained so far in the literature under the common concept of spectral risk measures for the case of zero and non-zero shortage penalty cost.