| Title |
Joint Pricing and Ordering Problem with Charitable Donations |
| ID_Doc |
22744 |
| Authors |
Çavdaroglu, NA |
| Title |
Joint Pricing and Ordering Problem with Charitable Donations |
| Year |
2020 |
| Published |
Sustainability, 12.0, 17 |
| DOI |
10.3390/su12176950 |
| Abstract |
Finding the correct pricing strategy for a product with multiple versions is an issue for retailers from various industries. In this paper, joint pricing and ordering problem is considered for a product that has two versions at each selling period. Two models, namely with or without the donation option, are analyzed and optimality conditions and monotonicity properties of the decision variables are characterized. When demands of products depend on prices of both versions, donating part of old product inventory would be more profitable for the retailer. Moreover, the donation model would result in less wasted inventory, contributing to sustainability and goals of green economy. Analytical results are supported with numerical analysis of a realistic case. |
| Author Keywords |
joint pricing and ordering; dynamic programming; donations; sustainability; circular economy |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Science Citation Index Expanded (SCI-EXPANDED); Social Science Citation Index (SSCI) |
| EID |
WOS:000569576200001 |
| WoS Category |
Green & Sustainable Science & Technology; Environmental Sciences; Environmental Studies |
| Research Area |
Science & Technology - Other Topics; Environmental Sciences & Ecology |
| PDF |
https://www.mdpi.com/2071-1050/12/17/6950/pdf?version=1598619234
|