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Simulating the demand reshaping and substitution effects of probabilistic selling

Autor
Zhang, Y.; Huang, A. Q.; Cheng, T.C.E.; Wang, S.Y.; Fernandez, V.
Tipus d'activitat
Article en revista
Revista
International journal of simulation modeling
Data de publicació
2016-12
Volum
15
Número
4
Pàgina inicial
699
Pàgina final
710
DOI
https://doi.org/10.2507/IJSIMM15(4)CO15 Obrir en finestra nova
Repositori
http://hdl.handle.net/2117/100964 Obrir en finestra nova
Resum
This paper addresses the effect of probabilistic selling on inventory decisions and the expected profit through demand reshape and demand substitution. By considering a scenario with two higher-priced specific products and one lower-priced probabilistic product, we construct a new newsboy-type inventory model with demand reshape and substitution. A simulation study is implemented to explore extensively the effects of demand uncertainty, demand correlation, price sensitivity and price discount on...
Citació
Zhang, Y., Huang, A. Q., Cheng, T.C.E., Wang, S.Y., Fernandez, V. Simulating the demand reshaping and substitution effects of probabilistic selling. "International journal of simulation modeling", Desembre 2016, vol. 15, núm. 4, p. 699-710.
Paraules clau
Inventory, Probabilistic Selling, Demand Substitution, Demand Reshaping

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