Yield Management Models for Two Substitutable Products
نویسندگان
چکیده
منابع مشابه
Deterministic Price-inventory Management for Substitutable Products
About the Authors H. Ahmet Kuyumcu is a chief pricing scientist at Zilliant, Inc. and has over 1 experience on delivering data-driven, technology-based pricing solutions acr firms. Prior to joining Zilliant, he pioneered innovative price optimization a travel-transportation, and multi-family housing industries at Manugistics, Inc conferences on the practice of pricing and revenue management and...
متن کاملInventory Models for Substitutable Products: Optimal Policies and Heuristics
In this paper, we examine the nature of optimal inventory policies in a system where a retailer manages substitutable products. We first consider a system with two products 1 and 2 whose total demand is D and individual demand proportions are p and (1-p). A fixed proportion of the unsatisfied customers for 1(2) will purchase item 2 (1), if it is available in inventory. For the single period cas...
متن کاملDemand Management and Inventory Control for Substitutable Products
This paper studies dynamic inventory and pricing decisions for a set of substitutable products over a finite planning horizon. We present a general stochastic, price-dependent demand model that unifies many commonly used demand models in the literature. Unsatisfied demands are backlogged. There are linear purchasing, inventory-holding, and backordering costs. The objective is to maximize the to...
متن کاملOptimal Dynamic Pricing for Two Perishable and Substitutable Products
This thesis presents a dynamic pricing model where a seller offers two types of a generic product to a random number of customers. Customers show up sequentially. When a customer arrives, he will —depending on the prices—either purchase one unit of type 1 product or one unit of type 2 product, or will leave empty-handed. The sale ends either when the entire stock is sold out, or when the custom...
متن کاملDynamic Pricing Model for Substitutable Products
A dynamic pricing model in airline seat allocation, where a seller offers two substitutable perishable products in the monopolist market, is proposed in this article. The objective is to maximize the total profit gained from both products. We analyze the problem using a multinomial logit model to describe the customer choice behavior. The exact solution is obtained according to the calculated o...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of the Korean Operations Research and Management Science Society
سال: 2016
ISSN: 1225-1119
DOI: 10.7737/jkorms.2016.41.2.001