Pricing, Variety, and Inventory Decisions for Product Lines of Substitutable Items

Bacel Maddah (), Ebru K. Bish and Brenda Munroe
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Bacel Maddah: American University of Beirut

Chapter Chapter 14 in Planning Production and Inventories in the Extended Enterprise, 2011, pp 367-391 from Springer

Abstract: Abstract Integrating operations and marketing decisions greatly benefits a firm. Marketing actions drive consumer demand, which significantly influences operations management (OM) decisions in areas such as capacity planning and inventory control. On the other hand, the marketing department of a firm relies on OM cost estimates in making decisions concerning pricing, variety, promotions, etc. In this chapter, we review recent research on pricing, assortment (or variety), and inventory decisions in retail operations management, which contribute to the growing literature on joint marketing/OM models (e.g., Eliashberg and Steinberg 1993; Griffin and Hauser 1992; Karmarkar 1996; Pekgün et al. 2006, 2008; Porteus and Whang 1991). Other important contributions of the reviewed works account for inventory costs in pricing and variety models and utilize realistic demand models based on consumer choice theory. These contributions are discussed below.

Keywords: Expected Profit; Inventory Cost; Price Decision; Inventory Decision; Newsvendor Model (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1007/978-1-4419-6485-4_14

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