DC Field | Value | Language |
---|---|---|
dc.contributor.author | Kim, Kyoung-Kuk | ko |
dc.contributor.author | Liu, Jun | ko |
dc.contributor.author | Lee, Chi-Guhn | ko |
dc.date.accessioned | 2015-06-25T02:44:08Z | - |
dc.date.available | 2015-06-25T02:44:08Z | - |
dc.date.created | 2014-05-06 | - |
dc.date.created | 2014-05-06 | - |
dc.date.issued | 2015-08 | - |
dc.identifier.citation | IIE TRANSACTIONS, v.47, no.8, pp.851 - 864 | - |
dc.identifier.issn | 0740-817X | - |
dc.identifier.uri | http://hdl.handle.net/10203/199029 | - |
dc.description.abstract | This article studies a single-item periodic-review inventory problem with stochastic demand, uncertain price, and price search cost. At the beginning of a period, an inventory manager has to decide, considering the current inventory level, whether a price should be searched for at a non-zero cost. Once the price is known, she will have to decide the order size. For tractability the number of realizable prices is limited to two and (r, S-1, S-2)-type policies are considered, where r is the threshold for the price search decision and S-i is the order-up-to level for price p(i) for i = 1, 2. Although the problem is significantly simplified, it still allows for price speculations by the inventory manager; i.e., she requests a quote but may not buy. The properties of long-run average costs are studies and optimization algorithms are presented. Numerical studies show the effectiveness of the proposed policy compared with classic (s, S)-type policy and its natural three-parameter extension. | - |
dc.language | English | - |
dc.publisher | TAYLOR & FRANCIS INC | - |
dc.subject | DISCOUNT OPPORTUNITIES | - |
dc.subject | S POLICIES | - |
dc.subject | SYSTEMS | - |
dc.subject | SEARCH | - |
dc.subject | REPLENISHMENT | - |
dc.subject | OFFERINGS | - |
dc.title | A stochastic inventory model with price quotation | - |
dc.type | Article | - |
dc.identifier.wosid | 000354932500005 | - |
dc.identifier.scopusid | 2-s2.0-84937645200 | - |
dc.type.rims | ART | - |
dc.citation.volume | 47 | - |
dc.citation.issue | 8 | - |
dc.citation.beginningpage | 851 | - |
dc.citation.endingpage | 864 | - |
dc.citation.publicationname | IIE TRANSACTIONS | - |
dc.identifier.doi | 10.1080/0740817X.2014.955598 | - |
dc.contributor.localauthor | Kim, Kyoung-Kuk | - |
dc.contributor.nonIdAuthor | Liu, Jun | - |
dc.contributor.nonIdAuthor | Lee, Chi-Guhn | - |
dc.type.journalArticle | Article | - |
dc.subject.keywordAuthor | price search | - |
dc.subject.keywordAuthor | Stochastic inventory | - |
dc.subject.keywordAuthor | price uncertainty | - |
dc.subject.keywordPlus | DISCOUNT OPPORTUNITIES | - |
dc.subject.keywordPlus | S POLICIES | - |
dc.subject.keywordPlus | SYSTEMS | - |
dc.subject.keywordPlus | SEARCH | - |
dc.subject.keywordPlus | REPLENISHMENT | - |
dc.subject.keywordPlus | OFFERINGS | - |
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