Optimal policy for a reseller when the supplier offers a temporary reduction in price

Article Abstract:

An analytical model determines optimal pricing and lot-sizing policy of resellers face with suppliers' temporary reduction in product prices in the retail market. Sensitivity analysis is used to solve for the resellers' optimal solution in setting the price and time of reselling. Results reveal that resellers normally resort to forward buying under the assumption that they are free to set the price and time of reselling. Likewise, a part of the savings is passed to consumer via reduced selling price.

Pricing Policy, Retail Distribution, Management, Usage, Retail trade, Pricing, Distribution channels, Mathematical optimization, Optimization theory

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Determining optimal advertising strategies: a Markov decision model approach

Article Abstract:

There are different classes of models which include advertising wearout as well as the differences between the learning and forgetting of advertisements. Advertising wearout is the decrease in one's favorable responses after intermittent exposure to an advertisement. Research presents two models and uses the Markov decision modeling approach to yield optimal control limit policies. These policies are then determined through the use of an algorithm.

Advertising Management, Research, Models, Advertising, Marketing management

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Quantity flexibility contracts: optimal decisions with information updates

Article Abstract:

A study on quantitative flexibility contracts for demand forecast update has been presented. The impact of forecast quality and level of flexibility on the optimal decisions and managerial aspects has been emphasized.

Methods, Economic forecasting, Demand (Economics)

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