A Note on a Multi-Period Profit Maximizing Model for Retail Supply Chain Management

12 Pages Posted: 6 Nov 2003

See all articles by Wilco van den Heuvel

Wilco van den Heuvel

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)

Albert P. M. Wagelmans

Erasmus University Rotterdam (EUR) - Erasmus Center for Optimization in Public Transport (ECOPT); Erasmus University Rotterdam (EUR) - Department of Econometrics

Date Written: 27 2003, 10

Abstract

In this note we present an efficient exact algorithm to solve the joint pricing and inventoryproblem for which Bhattacharjee and Ramesh (2000) proposed two heuristics. Our algorithmappears to be superior also in terms of computation time. Furthermore, we point out several mistakes in the paper by Bhattacharjee and Ramesh.

Keywords: inventory, pricing, dynamic programming

JEL Classification: M, M11, R4, L11

Suggested Citation

van den Heuvel, Wilco and Wagelmans, Albert P. M., A Note on a Multi-Period Profit Maximizing Model for Retail Supply Chain Management (27 2003, 10). ERIM Report Series Reference No. ERS-2003-072-LIS. Available at SSRN: https://ssrn.com/abstract=463808

Wilco Van den Heuvel (Contact Author)

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) ( email )

P.O. Box 1738
3000 DR Rotterdam, NL 3062 PA
Netherlands
+31 10 40 81307 (Phone)

Albert P. M. Wagelmans

Erasmus University Rotterdam (EUR) - Erasmus Center for Optimization in Public Transport (ECOPT) ( email )

3000 DR Rotterdam
Netherlands
+31 10 408 2576 (Phone)
+31 10 408 9162 (Fax)

Erasmus University Rotterdam (EUR) - Department of Econometrics

P.O. Box 1738
3000 DR Rotterdam
Netherlands

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