A joint decision model of product variety, inventory control and pricing

Wu Haining, Gao Junjun
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Abstract

The problem of jointly determining the product variety decision with inventory control decision and pricing decision for different items of a certain brand product is studied in this paper. The market demand of this assortment of products is described as a function of time, price, seasonal factor and random factor, and the total profit of this brand and its service level at the retailer are both given. Based on it, a nonlinear integer programming model to maximize total multi-period profits subject to given stocking space, budgetary and service level constraints is established. The computational results show that by using this joint decision model, the profit of the retailer could be 5 times more than the before. The result shows that as the centralized coordinator, the manufacturer will enhance greatly the whole system's competence of obtaining profit by taking the profit maximization of distribution system as its' strategic goal.
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产品品种、库存控制和价格的联合决策模型
本文研究了某品牌产品的品种决策与库存控制决策和不同产品的价格决策的联合确定问题。将该系列产品的市场需求描述为时间、价格、季节因素和随机因素的函数,并给出该品牌的总利润及其在零售商处的服务水平。在此基础上,建立了在给定库存空间、预算和服务水平约束下多期总利润最大化的非线性整数规划模型。计算结果表明,采用该联合决策模型后,零售商的利润可提高5倍。结果表明,制造商作为集中协调者,以分销系统的利润最大化为战略目标,将大大提高整个系统的盈利能力。
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