Optimization of price strategy with multi-level discount for demand management of perishable products

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

This paper develops a model to get the price policy for fresh products, and help to determine the optimal initial inventory of a sale period. Use freshness function and a demand function to illustrate the fresh condition and the demand of the product. The customer demand on the other hand, is influenced by the price and the freshness condition. In order to make it more realistic, a random factor is added to the demand function. And we propose a new solving method which integrates the scenario and simulation based fitness calculation method into the conventional GA method to help determine the price policy.

Original languageEnglish
Title of host publicationProceedings of the International MultiConference of Engineers and Computer Scientists 2018, IMECS 2018
EditorsOscar Castillo, David Dagan Feng, A.M. Korsunsky, Craig Douglas, S. I. Ao
PublisherNewswood Limited
ISBN (Electronic)9789881404886
Publication statusPublished - 2018 Jan 1
Event2018 International MultiConference of Engineers and Computer Scientists, IMECS 2018 - Hong Kong, Hong Kong
Duration: 2018 Mar 142018 Mar 16

Publication series

NameLecture Notes in Engineering and Computer Science
Volume2
ISSN (Print)2078-0958

Other

Other2018 International MultiConference of Engineers and Computer Scientists, IMECS 2018
CountryHong Kong
CityHong Kong
Period18/3/1418/3/16

ASJC Scopus subject areas

  • Computer Science (miscellaneous)

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  • Cite this

    Dan, L., & Murata, T. (2018). Optimization of price strategy with multi-level discount for demand management of perishable products. In O. Castillo, D. D. Feng, A. M. Korsunsky, C. Douglas, & S. I. Ao (Eds.), Proceedings of the International MultiConference of Engineers and Computer Scientists 2018, IMECS 2018 (Lecture Notes in Engineering and Computer Science; Vol. 2). Newswood Limited.