Models with Demand Influenced by Promotion

Dirk Beyer (), Feng Cheng (), Suresh Sethi and Michael Taksar ()
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Dirk Beyer: M-Factor
Feng Cheng: Office of Performance Analysis and Strategy
Michael Taksar: University of Missouri

Chapter Chapter 8 in Markovian Demand Inventory Models, 2010, pp 153-178 from Springer

Abstract: Abstract This chapter deals with a stochastic inventory model in which the probability distribution of the product demand in any given period depends on some environmental factors, as well as on whether or not the product is promoted in the period. The problem is to obtain optimal inventory ordering and product ∈x{promotion} decisions jointly so as to maximize the total profit.

Keywords: Optimal Policy; Markov Decision Process; Stochastic Dominance; Price Discount; Demand State (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1007/978-0-387-71604-6_8

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