The simultaneous stochastic pricing and inventory management with capacitated cash-on-hand is a profit maximization problem faced by a firm, which has limited working capital for its liabilities. In addition to this working capital constraint, the company has to dynamically price its products and determine inventory levels to minimize its expected cost. In our study, we tackle this complicated problem by assuming a single product, periodic review inventory model with finite multiple periods, and imperfect market information. We also assume no fixed cost in order to relax the complexity of the problem and perform numerical analysis for providing managerial implications. We investigate several research questions to extend our understanding of this complicated but very practical problem faced by numerous decision-makers in organizations. A discussion of possible optimal policies for this complicated unanswered problem with working capital constraints is explored.
| Published in |
International Journal of Business and Economics Research (Volume 3, Issue 6-1)
This article belongs to the Special Issue Supply Chain Management: Its Theory and Applications |
| DOI | 10.11648/j.ijber.s.2014030601.11 |
| Page(s) | 1-5 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Dynamic Pricing, Inventory Control, Supply Chain Management
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APA Style
Ismail Civelek. (2014). A Simultaneous Pricing and Inventory Control Model for a Single Product with Capacitated Working Capital. International Journal of Business and Economics Research, 3(6-1), 1-5. https://doi.org/10.11648/j.ijber.s.2014030601.11
ACS Style
Ismail Civelek. A Simultaneous Pricing and Inventory Control Model for a Single Product with Capacitated Working Capital. Int. J. Bus. Econ. Res. 2014, 3(6-1), 1-5. doi: 10.11648/j.ijber.s.2014030601.11
AMA Style
Ismail Civelek. A Simultaneous Pricing and Inventory Control Model for a Single Product with Capacitated Working Capital. Int J Bus Econ Res. 2014;3(6-1):1-5. doi: 10.11648/j.ijber.s.2014030601.11
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Download@article{10.11648/j.ijber.s.2014030601.11,
author = {Ismail Civelek},
title = {A Simultaneous Pricing and Inventory Control Model for a Single Product with Capacitated Working Capital},
journal = {International Journal of Business and Economics Research},
volume = {3},
number = {6-1},
pages = {1-5},
doi = {10.11648/j.ijber.s.2014030601.11},
url = {https://doi.org/10.11648/j.ijber.s.2014030601.11},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.s.2014030601.11},
abstract = {The simultaneous stochastic pricing and inventory management with capacitated cash-on-hand is a profit maximization problem faced by a firm, which has limited working capital for its liabilities. In addition to this working capital constraint, the company has to dynamically price its products and determine inventory levels to minimize its expected cost. In our study, we tackle this complicated problem by assuming a single product, periodic review inventory model with finite multiple periods, and imperfect market information. We also assume no fixed cost in order to relax the complexity of the problem and perform numerical analysis for providing managerial implications. We investigate several research questions to extend our understanding of this complicated but very practical problem faced by numerous decision-makers in organizations. A discussion of possible optimal policies for this complicated unanswered problem with working capital constraints is explored.},
year = {2014}
}
TY - JOUR T1 - A Simultaneous Pricing and Inventory Control Model for a Single Product with Capacitated Working Capital AU - Ismail Civelek Y1 - 2014/12/11 PY - 2014 N1 - https://doi.org/10.11648/j.ijber.s.2014030601.11 DO - 10.11648/j.ijber.s.2014030601.11 T2 - International Journal of Business and Economics Research JF - International Journal of Business and Economics Research JO - International Journal of Business and Economics Research SP - 1 EP - 5 PB - Science Publishing Group SN - 2328-756X UR - https://doi.org/10.11648/j.ijber.s.2014030601.11 AB - The simultaneous stochastic pricing and inventory management with capacitated cash-on-hand is a profit maximization problem faced by a firm, which has limited working capital for its liabilities. In addition to this working capital constraint, the company has to dynamically price its products and determine inventory levels to minimize its expected cost. In our study, we tackle this complicated problem by assuming a single product, periodic review inventory model with finite multiple periods, and imperfect market information. We also assume no fixed cost in order to relax the complexity of the problem and perform numerical analysis for providing managerial implications. We investigate several research questions to extend our understanding of this complicated but very practical problem faced by numerous decision-makers in organizations. A discussion of possible optimal policies for this complicated unanswered problem with working capital constraints is explored. VL - 3 IS - 6-1 ER -
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