Optimal ordering and pricing policies in managing perishable products with quality deterioration

2020 ◽  
pp. 1-23
Author(s):  
Jing Chen ◽  
Zhongwei Tian ◽  
Wei Hang
Keyword(s):  
Perishable Products ◽  
Pricing Policies ◽  
Quality Deterioration ◽  
Optimal Ordering

scholarly journals Optimal pricing policies for perishable products

2005 ◽  
Vol 166 (1) ◽  
pp. 246-254 ◽  
Author(s):  
Miguel F. Anjos ◽  
Russell C.H. Cheng ◽  
Christine S.M. Currie
Keyword(s):  
Optimal Pricing ◽  
Perishable Products ◽  
Pricing Policies

scholarly journals Optimal Ordering and Pricing Policies for Seasonal Products: Impacts of Demand Uncertainty and Capital Constraint

2016 ◽  
Vol 2016 ◽  
pp. 1-13 ◽  
Author(s):  
Jinzhao Shi ◽  
Richard Y. K. Fung ◽  
Ju’e Guo
Keyword(s):  
Demand Uncertainty ◽  
Lower Price ◽  
Market Demand ◽  
High Demand ◽  
Pricing Policies ◽  
Pricing Decision ◽  
Optimal Ordering ◽  
The Impact ◽  
Uncertainty Level ◽  
Seasonal Products

With a stochastic price-dependent market demand, this paper investigates how demand uncertainty and capital constraint affect retailer’s integrated ordering and pricing policies towards seasonal products. The retailer with capital constraint is normalized to be with zero capital endowment while it can be financed by an external bank. The problems are studied under a low and high demand uncertainty scenario, respectively. Results show that when demand uncertainty level is relatively low, the retailer faced with demand uncertainty always sets a lower price than the riskless one, while its order quantity may be smaller or larger than the riskless retailer’s which depends on the level of market size. When adding a capital constraint, the retailer will strictly prefer a higher price but smaller quantity policy. However, in a high demand uncertainty scenario, the impacts are more intricate. The retailer faced with demand uncertainty will always order a larger quantity than the riskless one if demand uncertainty level is high enough (above a critical value), while the capital-constrained retailer is likely to set a lower price than the well-funded one when demand uncertainty level falls within a specific interval. Therefore, it can be further concluded that the impact of capital constraint on the retailer’s pricing decision can be influenced by different demand uncertainty levels.

scholarly journals Two-Period Dynamic versus Fixed-Ratio Pricing Policies under Duopoly Competition

2019 ◽  
Vol 2019 ◽  
pp. 1-11 ◽  
Author(s):  
Hao Li ◽  
Xi Yang ◽  
Yu Tu ◽  
Ting Peng
Keyword(s):  
Dynamic Pricing ◽  
Utility Maximization ◽  
Fixed Ratio ◽  
The Other ◽  
Optimal Pricing ◽  
Perishable Products ◽  
Pricing Policy ◽  
Pricing Policies ◽  
Current Price ◽  
Identical Product

This paper introduces a two-period, pricing policy under duopoly competition between two firms offering an identical product to consumers who are intertemporal utility maximization. Firms have equal inventories of faultlessly replaceable and perishable products. The firms adjust prices to maximize profits and determine optimal pricing policies, choosing from dynamic pricing, fixed-ratio pricing, and elastic pricing policies. According to a duopoly competition model, the consumer is limited to a single firm visit per period. The consumer decides to purchase the product at current price from a firm and remain in the market to purchase product from the other firm in the next period or exit the market. The results offer three main conclusions. First, elastic pricing is consistent with dynamic pricing. Second, the more consumers visit the firm in the first period, the more profits the firm will make. Third, we explore the effectiveness of different pricing policies. The results show that although dynamic pricing is a more complex policy than fixed-ratio pricing, it may lead to decreased equilibrium profits when the firms sharply discounts prices and consumer rationality is unlimited.

The Use of Port Performance Indexes in the Transport Economy and the Strengthening of Port Competitiveness

2019 ◽  
Vol 10 (5) ◽  
pp. 387-394
Author(s):  
Astrida Rijkure ◽  
Keyword(s):  
Quality Assurance ◽  
Performance Indicators ◽  
Management Practices ◽  
International Competitiveness ◽  
International Experience ◽  
Multimodal Integration ◽  
Pricing Policies ◽  
Performance Indexes ◽  
Quality Assurance Process ◽  
Assurance Process

Ports in the transport economy have an important role to play in the competitiveness of ports. There is an increasing climate of competition, which causes ports to invest in development and to improve their transport corridors, governance principles and pricing policies in order to strengthen international competitiveness of ports and to ensure that their management practices are in line with the positive international experience. In order to increase the efficiency of transport, to promote the use of environmentally friendly technologies and to improve the international competitiveness of port transport corridors, it is important for ports to determine their own KPI indicators that would be used to assess port performance indicators. As ports are responsible for the quality assurance of port services, even if they do not provide such services, monitoring and assessing of the KPI must be part of the quality assurance process. The objective of this study is to define the port performance-enhancing KPI indexes and to make suggestions for how KPI application in the transport economy can strengthen the international competitiveness of ports and ensure that their management practises international experience. The study’s tasks are to define the appropriate KPI indexes, group them according to interlinked principles, and provide proposals on how to use them to improve the international competitiveness of ports and the main transport system multimodal integration.

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