Complementarity analysis of a multi‐item inventory model with leading product pricing

IF 4.8 3区 管理学 Q1 ENGINEERING, MANUFACTURING
Sangjo Kim, Youyi Feng, Jianjun Xu
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引用次数: 0

Abstract

Abstract Our research investigates a joint inventory replenishment and pricing problem, where a seller controls the price of a leading product while restocking for all the products. We demonstrate that the seller's expected value functions present an structure, recommending an optimal order‐up‐to inventory‐level and list‐price policy. Our findings reveal divergent economic relationships between products from the seller's and customer's perspectives, suggesting managers broaden their strategies beyond customer viewpoints. We extend the pricing and inventory analysis to scenarios involving three substitute products under both price and inventory control. In these situations, we further reveal that sellers and customers uniformly view product inventories as substitutes, and the corresponding value functions are submodular and mutually diagonally dominant.
具有主导产品定价的多项目库存模型的互补性分析
摘要本文研究了一个联合库存补充和定价问题,即卖方控制主导产品的价格,同时补充所有产品的库存。我们证明了卖方的期望价值函数呈现一个结构,推荐了一个最佳的订单-库存水平和目录价格政策。我们的研究结果从卖家和顾客的角度揭示了产品之间不同的经济关系,建议管理者拓宽他们的策略,超越顾客的观点。我们将定价和库存分析扩展到在价格和库存控制下有三种替代产品的情况。在这种情况下,我们进一步揭示了销售者和消费者一致地将产品库存视为替代品,并且相应的价值函数是子模的,并且相互对角占主导地位。
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来源期刊
Production and Operations Management
Production and Operations Management 管理科学-工程:制造
CiteScore
7.50
自引率
16.00%
发文量
278
审稿时长
24 months
期刊介绍: The mission of Production and Operations Management is to serve as the flagship research journal in operations management in manufacturing and services. The journal publishes scientific research into the problems, interest, and concerns of managers who manage product and process design, operations, and supply chains. It covers all topics in product and process design, operations, and supply chain management and welcomes papers using any research paradigm.
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