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Dynamic Pricing of Limited Inventories When Customers Negotiate

Kuo, Chia-Wei; Ahn, Hyun-soo; Aydin, Goker - 2012

Although take-it-or-leave-it pricing is the main mode of operation for many retailers, a number of retailers discreetly allow price negotiation when some haggle-prone customers ask for a bargain. At these retailers, the posted price, which itself is subject to dynamic adjustments in response to...

Persistent link: https://www.econbiz.de/10014178635

Inventory Auditing and Replenishment Using Point-of-Sales Data

Bassamboo, Achal; Moreno, Antonio; Stamatopoulos, Ioannis - 2020

Spoilage, expiration, damage due to employee/customer handling, employee theft, and customer shoplifting usually are not reflected in inventory records. As a result, records often report phantom inventory, that is, units of good not available for sale. We derive an optimal polynomial‐time...

Persistent link: https://www.econbiz.de/10014141189

Exact Characterization of the Jointly Optimal Restocking and Auditing Policy in Inventory Systems with Record Inaccuracy

Chehrazi, Naveed - 2022

, demand is modeled by a point process and is observable only when it leads to sales. In addition to demand that can reduce the … is a threshold policy. Our proof of this result is based on a coupling argument which is valid for any demand and loss … Bayesian shelf stock distribution induced by the demand and loss process. Instead, our characterization of the jointly optimal …

Persistent link: https://www.econbiz.de/10014243303