Joint Pricing and Inventory Decisions for Constant Priced Items

Howard Kunreuther and Linus Schrage
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Howard Kunreuther: University of Pennsylvania
Linus Schrage: University of Chicago

Management Science, 1973, vol. 19, issue 7, 732-738

Abstract: This paper develops an algorithm for determining the pricing and ordering decisions for a firm that produces one product for which there is a deterministic demand curve that differs from period to period. It is assumed that the firm wants to maintain the same price for the product throughout the season. There is a fixed cost associated with each order placed (or alternatively, each batch produced) in addition to per unit ordering and storage costs for carrying inventory over time.

Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:19:y:1973:i:7:p:732-738

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