We consider a joint pricing and inventory control problem in which the customer's response to selling price and the demand distribution are not known a priori. Unsatisfied demand is lost and unobserved, and the only available information for decision-making is the observed sales data (a.k.a....

We consider a classic periodic-review perishable inventory system with a fixed product lifetime and zero replenishment lead time under a first-in-first-out issuance policy. Unsatisfied demand can be either lost or backlogged. The objective is to minimize the long-run average holding, penalty and...