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Pricing, Variety, and Inventory Decisions for Product Lines of Substitutable Items

In: Planning Production and Inventories in the Extended Enterprise

Author

Listed:
  • Bacel Maddah

    (American University of Beirut)

  • Ebru K. Bish
  • Brenda Munroe

Abstract

Integrating operations and marketing decisions greatly benefits a firm. Marketing actions drive consumer demand, which significantly influences operations management (OM) decisions in areas such as capacity planning and inventory control. On the other hand, the marketing department of a firm relies on OM cost estimates in making decisions concerning pricing, variety, promotions, etc. In this chapter, we review recent research on pricing, assortment (or variety), and inventory decisions in retail operations management, which contribute to the growing literature on joint marketing/OM models (e.g., Eliashberg and Steinberg 1993; Griffin and Hauser 1992; Karmarkar 1996; Pekgün et al. 2006, 2008; Porteus and Whang 1991). Other important contributions of the reviewed works account for inventory costs in pricing and variety models and utilize realistic demand models based on consumer choice theory. These contributions are discussed below.

Suggested Citation

  • Bacel Maddah & Ebru K. Bish & Brenda Munroe, 2011. "Pricing, Variety, and Inventory Decisions for Product Lines of Substitutable Items," International Series in Operations Research & Management Science, in: Karl G. Kempf & Pınar Keskinocak & Reha Uzsoy (ed.), Planning Production and Inventories in the Extended Enterprise, chapter 0, pages 367-391, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-6485-4_14
    DOI: 10.1007/978-1-4419-6485-4_14
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    Citations

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    Cited by:

    1. Bacel Maddah & Fouad Ben Abdelaziz & Hussein Tarhini, 2021. "Bi-objective optimization of retailer’s profit and customer surplus in assortment and pricing planning," Annals of Operations Research, Springer, vol. 296(1), pages 195-210, January.
    2. Ghoniem, Ahmed & Maddah, Bacel, 2015. "Integrated retail decisions with multiple selling periods and customer segments: Optimization and insights," Omega, Elsevier, vol. 55(C), pages 38-52.
    3. Flamand, Tulay & Ghoniem, Ahmed & Haouari, Mohamed & Maddah, Bacel, 2018. "Integrated assortment planning and store-wide shelf space allocation: An optimization-based approach," Omega, Elsevier, vol. 81(C), pages 134-149.
    4. Abdelaziz, Fouad Ben & Maddah, Bacel & Flamand, Tülay & Azar, Jimmy, 2024. "Store-Wide space planning balancing impulse and convenience," European Journal of Operational Research, Elsevier, vol. 312(1), pages 211-226.

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