Coordinating inventory control and pricing strategies: The continuous review model |
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| Authors: | Xin Chen David Simchi-Levi |
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| Affiliation: | a Department of Mechanical and Industrial Engineering, University of Illinois at Urbana-Champaign, USA
b The Engineering Systems Division and the Department of Civil and Environmental Engineering, Massachusetts Institute of Technology (MIT), USA |
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| Abstract: | We analyze an infinite horizon, single product, continuous review model in which pricing and inventory decisions are made simultaneously and ordering cost includes a fixed cost. We show that there exists a stationary (s,S) inventory policy maximizing the expected discounted or expected average profit under general conditions. |
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| Keywords: | Inventory Pricing Stochastic Continuous review Fixed cost |
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