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Pricing and ordering policies for price-dependent demand in a supply chain of a single retailer and a single manufacturer

Author

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  • Jungkyu Kim
  • Yushin Hong
  • Taebok Kim

Abstract

This article discusses joint pricing and ordering policies for price-dependent demand in a supply chain consisting of a single retailer and a single manufacturer. The retailer places orders for products according to an EOQ policy and the manufacturer produces them on a lot-for-lot basis. Four mechanisms with differing levels of coordination are presented. Mathematical models are formulated and solution procedures are developed to determine the optimal retail prices and order quantities. Through extensive numerical experiments, we analyse and compare the behaviours and characteristics of the proposed mechanisms, and find that enhancing the level of coordination has important benefits for the supply chain.

Suggested Citation

  • Jungkyu Kim & Yushin Hong & Taebok Kim, 2011. "Pricing and ordering policies for price-dependent demand in a supply chain of a single retailer and a single manufacturer," International Journal of Systems Science, Taylor & Francis Journals, vol. 42(1), pages 81-89.
    • Handle: RePEc:taf:tsysxx:v:42:y:2011:i:1:p:81-89
    DOI: 10.1080/00207720903470122
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    Cited by:

    1. Anil K. Agrawal & Amit Ambar Gupta & Manu K. Vora, 2021. "Optimal pricing and lot-sizing policies under promotional expense for some Veblen products," OPSEARCH, Springer;Operational Research Society of India, vol. 58(1), pages 83-108, March.
    2. R. Ghasemy Yaghin & S.M.T. Fatemi Ghomi & S.A. Torabi, 2015. "A hybrid credibility-based fuzzy multiple objective optimisation to differential pricing and inventory policies with arbitrage consideration," International Journal of Systems Science, Taylor & Francis Journals, vol. 46(14), pages 2628-2639, October.
    3. Ata Allah Taleizadeh & Mahsa Noori-daryan & Kannan Govindan, 2016. "Pricing and ordering decisions of two competing supply chains with different composite policies: a Stackelberg game-theoretic approach," International Journal of Production Research, Taylor & Francis Journals, vol. 54(9), pages 2807-2836, May.

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