Dynamic capacity management is the reassignment of aircraft to a flight schedule in response to the realisation of demand. Through better matching of the supply and demand for seats, airlines are able to carry more passengers, and the revenue management policy should be adjusted accordingly....

A periodical multi-product pricing and inventory control problem with applications to production planning and airline revenue management is studied. The objective function of the single-period model is shown to be convex for certain types of demand distributions, thus tractable for large...

Agents attempt to maximize expected profits earned by selling multiple units of a perishable product where their revenue streams are affected by the prices they quote as well as the distribution of other prices quoted in the market by other agents. We propose a model which captures this...

We consider a joint control of pricing and production in a two-item inventory system, where each item can be produced by its dedicated source or a shared flexible source, under the lost-sales setting. The demands of the two items are correlated. Due to the complexity caused by the lost-sales...

Based on the conditional value at risk criterion (CVaR), this paper constructed the additional-ordering newsvendor model considering the degree of risk aversion, the lost sale penalty cost and the limit of additional ordering, gave the satisfying conditions of optimal ordering quantity, and...

Inventory management for a new product is challenging due to the lack of historical data, and sales data cannot fully capture the actual demand as excess demand is usually unobservable. Meanwhile, demand-related features are available in the era of big data. We study how to determine the...

Renewable energy production plays a crucial role in the energy transition. However, many renewable energy sources (RES) are intermittent, and there is often a mismatch between energy production and consumption, which can be partially solved by storage. In this paper, we investigate the...

In the classical Harris-Wilson (1915) inventory model all the cost associated with the formula was taken to be constant and which also does not depend on any quantity. There are many practical situations where this is not true. This paper considers an inventory model where the carrying cost...

This paper deals with the problem of determining the retailer's optimal price and order quantity simultaneously when both holding cost and ordering cost are fuzzy numbers. The fuzzy model under the fuzzy arithmetical operations of Function Principle is proposed. The final purpose is to find...

This paper treats the problem of setting the inventory level of closed-loop flow lines operating under the constant-work-in-process (CONWIP) protocol. We solve a huge but simple linear program that models an entire simulation run of a closed-loop flow line in discrete time to determine a...