No abstract

One of the most fundamental results in inventory theory is the optimality of (s, S) policy for inventory systems with setup cost. This result is established under a key assumption of infinite ordering/production capacity. Several studies have shown that, when the ordering/production capacity is finite, the optimal policy for the inventory system with setup cost is very complicated and indeed, only partial characterization for the optimal policy is possible. In this paper, we consider a continuous review production/inventory system with finite capacity and setup cost. The demand follows a Poisson process and a demand that cannot be satisfied upon arrival is backlogged. We show that the optimal control policy has a very simple structure when the holding/shortage cost rate is quasi-convex. We also develop efficient algorithms to compute the optimal control parameters.

We consider a dynamic inventory control and pricing optimization problem in a periodic-review inventory system with price adjustment cost. Each order occurs with a fixed ordering cost; the ordering quantity is capacitated. We consider a sequential decision problem, where the firm first chooses the ordering quantity and then the sale price to maximize the expected total discounted profit over the sale horizon. We show that the optimal inventory control is partially characterized by as, s′, ppolicy in four regions, and the optimal pricing policy is dependent on the inventory level after the replenishment decision. We present some numerical examples to explore the effects of various parameters on the optimal pricing and replenishment policy.

No abstract

In order to make full use of this industry source of colleges and universities, Zibo Network Technology Company and Zibo Vocational Institute jointly build a comprehensive service and innovation incubation platform for individual and private enterprises in Zibo City. The individual private enterprise association platform is non-profit, public welfare, and open, with 8 databases built to overcome the shortcomings of the existing platform, such as scattered data and asymmetric information. It is mainly composed of 4 sub-project groups: information construction and operation and maintenance group, and policy. Consultation and expert service group, innovation and entrepreneurship incubation and industrial park group, project docking and achievement transformation group. The platform has completed the information construction of individual private enterprise association service platforms, theoretical research and ideological and political improvement, innovation and entrepreneurship, and park incubation. In the future, it hopes to establish a complete information intelligent management system to enhance the soft and hard power of individual private enterprise associations.