We consider the periodic review dynamic pricing and inventory control problem with fixed ordering cost. Demand is random and price dependent, and unsatisfied demand is backlogged. With complete demand information, the celebrated (s,S,p) policy is proved to be optimal, where s and S are the...

We study the fundamental model in joint pricing and inventory replenishment control under the learning-while-doing framework, with T consecutive review periods and the firm not knowing the demand curve a priori. At the beginning of each period, the retailer makes both a price decision and an...

Stochastic gradient descent (SGD) has proven effective in solving many inventory control problems with demand learning. However, it often faces the pitfall of an infeasible target inventory level that is lower than the current inventory level. Several recent works (e.g., (Huh and...