Dynamic pricing with capacity constraints and inventory replenishment
Loading...
Date
2014
Authors
ORCID
Advisor
Referee
Mark
Journal Title
Journal ISSN
Volume Title
Publisher
Vysoké učení technické v Brně, Fakulta strojního inženýrství, Ústav matematiky
Altmetrics
Abstract
This paper describes a fast algorithm for solving a capacitated dynamic pricing problem where the producer has the ability to store inventory. The pricing problem described is a quadratic programming problem with a structure that can be solved e ectively by a dual algorithm. The proposed algorithm gives a solution satisfying the Karush-Kuhn-Tucker conditions. This, combined with the fact that the problem has a convex feasible region with a concave objective function which we want to maximize, implies that the proposed algorithm gives a globally optimal solution. The algorithm is illustrated by numerical examples for both the single-item and the multi-item cases.
Description
Keywords
Citation
Mathematics for Applications. 2014, 3, č. 2, s. 143-166. ISSN 1805-3629.
http://ma.fme.vutbr.cz/archiv/3_2/ma_3_2_olstad.pdf
http://ma.fme.vutbr.cz/archiv/3_2/ma_3_2_olstad.pdf
Document type
Peer-reviewed
Document version
Published version
Date of access to the full text
Language of document
en
Study field
Comittee
Date of acceptance
Defence
Result of defence
Document licence
© Vysoké učení technické v Brně, Fakulta strojního inženýrství, Ústav matematiky