Dynamic pricing means varying price over time. This technique should be used in perishable products along its product life cycle to enhance profit along the supply chain. It is relatively difficult to manage the inventory for perishable products due to uncertainty in demand and short life cycle....

Product substitution refers to the use of product configuration Y to satisfy the demand for product configuration X when there is a stock-out for product configuration X in a multi-product configuration environment. Both product configuration X and Y are from the same product family where...