International Journal of Systems Science · 2000 · 12 citations · 0 references
ManagementIndustrial EngineeringOperations ManagementInventory ControlInventory ManagementPricing StrategyInventory Control PoliciesInventory OptimizationInventory Replenishment SystemsInventory TheoryPerishable Inventory ManagementStochastic Inventory ModelsDeterministic Single-period Inventory ModelOptimal Pricing PoliciesPerishability ModelingPerishable Inventory PricingPerishable Inventory ReplenishmentPerishable Inventory SystemsSingle-period Inventory ControlSingle-period Inventory Models
This paper develops a single-period inventory model where the stock begins to deteriorate at a random point in time within the period. Once this deterioration begins, the selling price can be adjusted once at that point. Optimum order size and pricing policies are determined for such an inventory model through a numerical illustration.