A linkage of markdown pricing with aggregate production planning
Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45) › 32_Refereed conference paper (with ISBN/ISSN) › peer-review
Author(s)
Related Research Unit(s)
Detail(s)
| Original language | English |
|---|---|
| Title of host publication | Proceedings of 2008 IEEE International Conference on Service Operations and Logistics, and Informatics, IEEE/SOLI 2008 |
| Pages | 1839-1844 |
| Volume | 2 |
| Publication status | Published - 2008 |
Publication series
| Name | |
|---|---|
| Volume | 2 |
Conference
| Title | 2008 IEEE International Conference on Service Operations and Logistics, and Informatics, IEEE/SOLI 2008 |
|---|---|
| Place | China |
| City | Beijing |
| Period | 12 - 15 October 2008 |
Link(s)
Abstract
This paper is to study the significance of the cooperation between the markdown policy and the aggregate planning so as to simulate the cooperation between retailers and manufacturers. A fuzzy nonlinear programming model, named Aggregate Production Planning-Markdown Pricing Model (APP-MP), is established by integrating the markdown model into Aggregate Production Planning model. Due to the uncertainty of business information and environment, some cost elements are considered to be fuzzy number so that the objective function is fuzzy in nature. The fuzzy programming model is transformed into a crisp parametric model to be solved. The parametric APP-MP is able to help the retailer and the manufacturer flexibly make the pricing decisions, including the magnitude and time of markdown, and production decisions based on different satisfaction levels so that greater profits could be obtained. The example solution shows that the cooperation definitely increases the profits. ©2008 IEEE.
Research Area(s)
- Aggregate production planning, Cooperation, Fuzzy programming, Markdown pricing
Citation Format(s)
A linkage of markdown pricing with aggregate production planning. / Zhu, Wenyun; Chung, William.
Proceedings of 2008 IEEE International Conference on Service Operations and Logistics, and Informatics, IEEE/SOLI 2008. Vol. 2 2008. p. 1839-1844 4682829.Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45) › 32_Refereed conference paper (with ISBN/ISSN) › peer-review
