TY - JOUR
T1 - An optimal inventory pricing and ordering strategy subject to stock and price dependent demand
AU - Wallace, James
AU - Tsoularis, Anastasious
PY - 2021/11/23
Y1 - 2021/11/23
N2 - This article considers the deterministic optimalcontrol problem of profit maximization for inventory replenishedat a variable rate and depleted by demand which is assumed tovary with price and stock availability. Optimal policies for theinventor, product order rate and price are derived using themaximum principle. Bounds on the maximum price possible arealso derived.
AB - This article considers the deterministic optimalcontrol problem of profit maximization for inventory replenishedat a variable rate and depleted by demand which is assumed tovary with price and stock availability. Optimal policies for theinventor, product order rate and price are derived using themaximum principle. Bounds on the maximum price possible arealso derived.
U2 - 10.46300/9101.2021.15.22
DO - 10.46300/9101.2021.15.22
M3 - Article
SN - 1998-0140
VL - 15
SP - 166
EP - 170
JO - International Journal of Mathematical models and methods in applied sciences
JF - International Journal of Mathematical models and methods in applied sciences
IS - 5
ER -