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Temporary price increase during replenishment lead time

机译:补货提前期临时提价

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Pricing and inventory management make up together revenue management, which is a significant effort to boost revenues out of available resources. Firms use various forms of dynamic pricing, including personalized pricing, markdowns, promotions, coupons, discounts, and clearance sales, to respond to market fluctuations and demand uncertainty. In this paper, we study a temporary price increase policy, a form of dynamic pricing, for a non-perishable product, a practice used by several giant retailers such as Amazon, Walmart, and Apple. We develop a continuous review inventory model that allows for joint replenishment and pricing decisions, where the lead time is not zero. A replenishment decision controls supply, while a pricing decision controls demand. A manager exercises a temporary price increase to slow demand and avoid a stock-out situation while waiting for a shipment, which may not necessarily increase revenues, but decrease stock-out costs. The problem is to solve for the optimal replenishment and the pricing policy parameters that maximize the long-run expected profit. That is, when and how much to order and when to raise the price. In this paper, the inventory level and time trigger a price increase. We solve many numerical examples and perform extensive sensitivity analyses. Our results show that compared to a model that focuses on fixed pricing, our model brings an additional increase in profit of about 13%. (C) 2019 Elsevier Inc. All rights reserved.
机译:定价和库存管理共同构成了收入管理,这是从可用资源中增加收入的一项重大工作。公司使用各种形式的动态定价,包括个性化定价,减价,促销,优惠券,折扣和清仓销售,以应对市场波动和需求不确定性。在本文中,我们研究了针对不易腐烂产品的临时提价政策(一种动态定价形式),该做法已被亚马逊,沃尔玛和苹果等多家大型零售商采用。我们开发了一个连续审查库存模型,该模型允许联合补货和定价决策,而提前期不为零。补货决定控制供应,定价决定控制需求。经理进行暂时的提价,以减慢需求并在等待发货时避免出现缺货的情况,这不一定会增加收入,但会减少缺货成本。问题是要解决最佳的补货和定价策略参数,以最大化长期预期利润。也就是说,什么时候订购,多少订购以及何时提高价格。在本文中,库存水平和时间触发了价格上涨。我们解决了许多数值示例,并进行了广泛的灵敏度分析。我们的结果表明,与专注于固定定价的模型相比,我们的模型带来了13%的额外利润增长。 (C)2019 Elsevier Inc.保留所有权利。

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