Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1703928 | Applied Mathematical Modelling | 2013 | 18 Pages |
Abstract
Price-dependence is an important characteristic for some inventory problems. This paper proposes a newsvendor model with fuzzy price-dependent demand, and discusses the conditions to determine the optimal pricing and inventory decisions jointly so that the expected profit could be maximized. Then an algorithm combining the method of ranking fuzzy numbers is developed to tackle the problem. Furthermore, comparison is made between the fuzzy model and the deterministic model to study the effect of the uncertain price-dependent demand, and the sensitivity properties of the joint optimal decisions are illustrated through numerical examples.
Keywords
Related Topics
Physical Sciences and Engineering
Engineering
Computational Mechanics
Authors
Ying Yu, Ji Zhu, Chenwei Wang,