Shortages of perishables control for a stochastic inventory system in retail through dynamic pricing with an adjustable factor

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Shortages of perishables control for a stochastic inventory system in retail through dynamic pricing with an adjustable factor	606 KB	Adobe Acrobat PDF	Read	Download
DOI Доступ к ресурсу на сайте издателя			10.17223/19988605/72/9

Title: Shortages of perishables control for a stochastic inventory system in retail through dynamic pricing with an adjustable factor
Title: Контроль дефицита скоропортящихся товаров в розничной торговле посредством динамического ценообразования с регулирующим коэффициентом
Creator: Kitaeva, Anna V.
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Yu, Cao
Date: 2025
DOI: 10.17223/19988605/72/9
Description: This paper examines an inventory system of a perishable product facing compound Poisson demand with price-dependent intensity. The proposed model includes an adjustable factor that influences the intensity of demand and, consequently, the possibility of shortages. By employing diffusion approximation of the inventory level process, stochastic properties of the selling process are obtained, and the expected revenue is derived with a penalty for the shortages. Consideration of the shortages’ period allows us to expand the scope of applicability the linear approximation of a dependence of demand intensity on price.