Newsboy Problem: Viability of Optimal Initial Selling Price and Ordering Policies in the Presence of Exogenous Price Decline and Random Lead Time

Ningombam Sanjib Meitei; Snigdha Banerjee

RAIRO - Operations Research - Recherche Opérationnelle (2013)

  • Volume: 47, Issue: 4, page 371-394
  • ISSN: 0399-0559

Abstract

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Analysis of empirical sales data lead us to consider newsboy model for four practical market conditions arising from the presence/absence of stochastic lead time and exogenous linear temporal decline in selling price when distribution of the stochastic demand depends upon initial selling price. Viability of the solutions is discussed for three strategies of obtaining optimal initial selling price and/or ordering quantity. Numerical studies are conducted to assess the effects of lead time and price decline.

How to cite

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Meitei, Ningombam Sanjib, and Banerjee, Snigdha. "Newsboy Problem: Viability of Optimal Initial Selling Price and Ordering Policies in the Presence of Exogenous Price Decline and Random Lead Time." RAIRO - Operations Research - Recherche Opérationnelle 47.4 (2013): 371-394. <http://eudml.org/doc/275062>.

@article{Meitei2013,
abstract = {Analysis of empirical sales data lead us to consider newsboy model for four practical market conditions arising from the presence/absence of stochastic lead time and exogenous linear temporal decline in selling price when distribution of the stochastic demand depends upon initial selling price. Viability of the solutions is discussed for three strategies of obtaining optimal initial selling price and/or ordering quantity. Numerical studies are conducted to assess the effects of lead time and price decline.},
author = {Meitei, Ningombam Sanjib, Banerjee, Snigdha},
journal = {RAIRO - Operations Research - Recherche Opérationnelle},
keywords = {stochastic lead-time; exogenous price decline; pricing; initial selling price; viable policies},
language = {eng},
number = {4},
pages = {371-394},
publisher = {EDP-Sciences},
title = {Newsboy Problem: Viability of Optimal Initial Selling Price and Ordering Policies in the Presence of Exogenous Price Decline and Random Lead Time},
url = {http://eudml.org/doc/275062},
volume = {47},
year = {2013},
}

TY - JOUR
AU - Meitei, Ningombam Sanjib
AU - Banerjee, Snigdha
TI - Newsboy Problem: Viability of Optimal Initial Selling Price and Ordering Policies in the Presence of Exogenous Price Decline and Random Lead Time
JO - RAIRO - Operations Research - Recherche Opérationnelle
PY - 2013
PB - EDP-Sciences
VL - 47
IS - 4
SP - 371
EP - 394
AB - Analysis of empirical sales data lead us to consider newsboy model for four practical market conditions arising from the presence/absence of stochastic lead time and exogenous linear temporal decline in selling price when distribution of the stochastic demand depends upon initial selling price. Viability of the solutions is discussed for three strategies of obtaining optimal initial selling price and/or ordering quantity. Numerical studies are conducted to assess the effects of lead time and price decline.
LA - eng
KW - stochastic lead-time; exogenous price decline; pricing; initial selling price; viable policies
UR - http://eudml.org/doc/275062
ER -

References

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