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Competitive analysis of interrelated price online inventory problems with demands

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posted on 2016-11-25, 16:19 authored by Shuguang Han, Jueliang Hu, Diwei Zhou
This paper investigates the interrelated price online inventory problems in which decisions as to when and how much to replenish must be made in an online fashion to meet some demand even without concrete knowledge of future prices. The objective of the decision maker is to minimize the total cost with the demands met. Two different types of demand are considered carefully, which are linearly related demand to price and exponentially related demand to price. In this paper, the prices are online with only the price range variation known in advance, which are interrelated with the preceding price. Two models of price correlations are investigated. Namely an exponential model and a logarithmic model. The corresponding algorithms of the problems are developed and the competitive ratio of the algorithms are also derived by the solutions of linear programming.

Funding

This work was supported by the Natural Science Foundation of China (11201428, 11471286).

History

School

  • Science

Department

  • Mathematical Sciences

Published in

ANZIAM_ZPAMS Joint Meeting

Citation

HAN, S., HU, J. and ZHOU, D., 2017. Competitive analysis of interrelated price online inventory problems with demands. The ANZIAM Journal, 58 (3-4), pp.368-378.

Publisher

Cambridge University Press © Australian Mathematical Society

Version

  • AM (Accepted Manuscript)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Acceptance date

2016-10-30

Publication date

2017

Notes

This article has been published in a revised form in The ANZIAM Journal http://doi.org/10.1017/S144618111700013X. This version is published under a Creative Commons CC-BY-NC-ND. No commercial re-distribution or re-use allowed. Derivative works cannot be distributed. © Australian Mathematical Society .

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Language

  • en

Location

China

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    Keywords

    Interrelated pricesOnline inventory problemCompetitive analysisMathematical Sciences not elsewhere classified

    Licence

    CC BY-NC-ND 4.0

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