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Author: Srikanta Routroy
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Perishable products are now becoming more perishable due to an increase in the rate of technology innovation, changing customer behavior and increase in the number of competitors. Therefore, managing perishable products in the supply chain is quite difficult, and enhancing profit in perishable supply chain is not easy. As demand for perishable products is dependent on price, developing a pricing strategy is an important issue. In this paper, a generic model is proposed for one stage of perishable supply chain in a dynamic pricing environment, for developing pricing strategy in order to maximize profit. Genetic algorithm toolbox in MATLAB 7.8 is used to solve the problem.
Author: Srikanta Routroy
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Perishable products are now becoming more perishable due to an increase in the rate of technology innovation, changing customer behavior and increase in the number of competitors. Therefore, managing perishable products in the supply chain is quite difficult, and enhancing profit in perishable supply chain is not easy. As demand for perishable products is dependent on price, developing a pricing strategy is an important issue. In this paper, a generic model is proposed for one stage of perishable supply chain in a dynamic pricing environment, for developing pricing strategy in order to maximize profit. Genetic algorithm toolbox in MATLAB 7.8 is used to solve the problem.
Author: Rainer Schlosser
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Book Description
We examine a special class of dynamic pricing and advertising models for the sale of perishable goods, including marginal unit costs and inventory holding costs. The time horizon is assumed to be finite and we allow several model parameters to be dependent on time. For the stochastic version of the model, we derive closed-form expressions of the value function as well as of the optimal pricing and advertising policy in feedback form. Moreover, we show that for small unit shares, the model converges to a deterministic version of the problem, whose explicit solution is characterized by an overage and an underage case. We quantify the close relationship between the open-loop solution of the deterministic model and the expected evolution of optimally controlled stochastic sales processes. For both models, we derive sensitivity results. We find that in the case of positive holding costs, on average, optimal prices increase in time and advertising rates decrease. Furthermore, we analytically verify the excellent quality of optimal feedback policies of deterministic models applied in stochastic models.
Author: Robert Phillips
Publisher: Stanford University Press
ISBN: 0804781648
Category : Business & Economics
Languages : en
Pages : 470
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Book Description
This is the first comprehensive introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact
[email protected].
Author: Saleh Yahya Alghamdi
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 104
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Book Description
The optimization of delivery plan is a critical issue, especially for multiple perishable products in any profitable organization. This paper develops a model for the efficient implementation of supply chain systems for multiple perishable products. The mathematical model developed maximizes the profit while taking into consideration shelf life and the cost of transportation. The price or value of products is affected by its remaining shelf-life. An optimal delivery plan is developed based on shelf-life, time to transport the perishable products within the network reaching to retailer, while including the minimization of transportation cost in the model. In addition, the optimal delivery plan identifies the right quantity of each type of perishable products to be delivered. In this research, a mathematical model is utilized for solving the multi-objective mathematical problem, which includes revenue maximization, and minimization of transportation models to perform an optimal delivery plan. This paper’s central aim is to maximize the gross profit while identifying the best delivery method for multiple perishable products.
Author: Kalyan T. Talluri
Publisher: Springer Science & Business Media
ISBN: 0387273913
Category : Business & Economics
Languages : en
Pages : 731
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Book Description
Revenue management (RM) has emerged as one of the most important new business practices in recent times. This book is the first comprehensive reference book to be published in the field of RM. It unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details. Successful hardcover version published in April 2004.
Author: Hermann Simon
Publisher: Springer
ISBN: 3319994565
Category : Business & Economics
Languages : en
Pages : 569
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Book Description
In this book, the world’s foremost experts on pricing integrate theoretical rigor and practical application to present a comprehensive resource that covers all areas of the field. This volume brings together quantitative and qualitative approaches and highlights the most current innovations in theory and practice. Going beyond the traditional constraints of “price theory” and “price policy,” the authors coined the term “price management” to represent a holistic approach to pricing strategy and tactical implementation. They remind us that the Ancient Romans used one word, pretium, to mean both price and value. This is the fundamental philosophy that drives successful price management where producer and customer meet. Featuring dozens of examples and case studies drawn from their extensive research, consulting, and teaching around the world, Simon and Fassnacht cover all aspects of pricing following the price management process with its four phases: strategy, analysis, decision, and implementation. Thereby, the authors take into account the nuances across industry sectors, including consumer goods, industrial products, services, and trade/distribution. In particular, they address the implications of technological advancements, such as the Internet and new measurement and sensor technologies that have led to a wealth of price management innovations, such as flat rates, freemium, pay-per-use, or pay-what-you-want. They also address the emergence of new price metrics, Big Data applications, two-sided price systems, negative prices, and the sharing economy, as well as emerging payment systems such as bitcoin. The result is a “bible” for leaders who recognize that price is not only a means to drive profit in the short term, but a tool to generate sustained growth in shareholder value over the longer term, and a primer for researchers, instructors, and students alike. Praise for Price Management “This book is truly state of the art and the most comprehensive work in price management.” - Prof. Philip Kotler, Kellogg School of Management, Northwestern University “This very important book builds an outstanding bridge between science and practice.“ - Kasper Rorsted, CEO, Adidas “This book provides practical guidelines on value creation, communication and management, which is an imperative for businesses to survive in the coming era of uncertainty.” - Dr. Chang-Gyu Hwang, Chairman and CEO, KT Corporation (Korea Telecom)
Author: Eiji Tajika
Publisher:
ISBN:
Category :
Languages : en
Pages : 396
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Book Description
Author: Lee, In
Publisher: IGI Global
ISBN: 1466697881
Category : Computers
Languages : en
Pages : 2440
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Book Description
The convenience of online shopping has driven consumers to turn to the internet to purchase everything from clothing to housewares and even groceries. The ubiquity of online retail stores and availability of hard-to-find products in the digital marketplace has been a catalyst for a heighted interest in research on the best methods, techniques, and strategies for remaining competitive in the era of e-commerce. The Encyclopedia of E-Commerce Development, Implementation, and Management is an authoritative reference source highlighting crucial topics relating to effective business models, managerial strategies, promotional initiatives, development methodologies, and end-user considerations in the online commerce sphere. Emphasizing emerging research on up-and-coming topics such as social commerce, the Internet of Things, online gaming, digital products, and mobile services, this multi-volume encyclopedia is an essential addition to the reference collection of both academic and corporate libraries and caters to the research needs of graduate-level students, researchers, IT developers, and business professionals. .
Author: Mutlib Algannas
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 120
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Book Description
This dissertation develops a multi-objective framework for optimal replenishment strategy for perishable product to optimize revenue and transportation costs considering shelf life and delivery planning objectives under varying price scenario. Varying prices restrictions of shelf life time for product is introduced into this model to maximize the total profit of supply chain for perishable product. Using the frameworks developed, optimal delivery schedules for perishable products when the product prices vary based on the deteriorated or remaining shelf life of the product are determined. In this dissertation, mixed integer nonlinear (MINLP) mathematical models are developed for multi-objective problems with an objective to maximize revenue while taking into consideration shelf life, and minimization of transportation cost in order to determine the best schedule for delivery. The objective of the next research is in the study of location-allocation of depots for the development of supply chains of perishable products in which the prices depend on the time of delivery. This study developed models with an objective to maximize revenue while determining the need for adding new depots in order to minimize the total cost of the supply chain while meeting the due dates for delivery of the perishable product. MINLP models are developed for maximization of revenue while taking into consideration shelf life, the costs associated with depots, and minimization of transportation cost while meeting due dates for delivery. The last research objective in this dissertation develops a multi-objective optimal replenishment strategy for perishable product to optimize revenue and transportation costs considering shelf life and flexible customer demands. This research extends the initial objective to include demand profiles for multiple days for each retailer with an objective to maximize the total profit of the supply chain for perishable product.
Author: Fadi Al-Turjman
Publisher: CRC Press
ISBN: 1351595571
Category : Computers
Languages : en
Pages : 280
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Book Description
This book presents the Cognitive Information Centric Sensor Network (CICSN) framework for the IoT. This framework is built on top of cognitive nodes, capable of knowledge representation, learning, and reasoning, along with an information-centric approach for data delivery. It also discusses the most appropriate deployment strategy for these cognitive nodes under realistic assumptions that cares about the Quality of Information (QoI). In addition, it uses a QoI aware data delivery strategy, with Analytic Hierarchy Process (AHP) as the reasoning technique to identify data delivery paths that dynamically adapt to changing network conditions and user requirements.
