Yanzhi Li. Joint Pricing and Inventory Control for Perishable Products

Abstract. In spite of the increasing prevalence of perishable products, management of perishable products hasn't received desirable attention as much as of nonperishable products. In this work, we consider managing perishable products through coordinating inventory control and pricing decisions. Several cases differed by characteristics of the products are studied and for each of them, we investigate the optimal policy and heuristic policies that are convenient for practical implementation. Computational results are conducted to show further managerial insights and effectiveness of the proposed policies.