{"data":{"id":"10.6084/m9.figshare.c.2006732","type":"dois","attributes":{"doi":"10.6084/m9.figshare.c.2006732","prefix":"10.6084","suffix":"m9.figshare.c.2006732","identifiers":[],"alternateIdentifiers":[],"creators":[{"name":"Kim, Kyoung-Kuk","givenName":"Kyoung-Kuk","familyName":"Kim","affiliation":[],"nameIdentifiers":[]},{"name":"Liu, Jun","givenName":"Jun","familyName":"Liu","affiliation":[],"nameIdentifiers":[]},{"name":"Lee, Chi-Guhn","givenName":"Chi-Guhn","familyName":"Lee","affiliation":[],"nameIdentifiers":[]}],"titles":[{"title":"A stochastic inventory model with price quotation"}],"publisher":"Taylor \u0026 Francis","container":{},"publicationYear":2015,"subjects":[{"subject":"Plant Biology"},{"subject":"FOS: Biological sciences","schemeUri":"http://www.oecd.org/science/inno/38235147.pdf","subjectScheme":"Fields of Science and Technology (FOS)"},{"subject":"Science Policy"},{"subject":"Mathematics"},{"subject":"FOS: Mathematics","schemeUri":"http://www.oecd.org/science/inno/38235147.pdf","subjectScheme":"Fields of Science and Technology (FOS)"},{"subject":"Biological Sciences"},{"subject":"Sociology"},{"subject":"FOS: Sociology","schemeUri":"http://www.oecd.org/science/inno/38235147.pdf","subjectScheme":"Fields of Science and Technology (FOS)"},{"subject":"Ecology"}],"contributors":[],"dates":[{"date":"2015-12-05","dateType":"Created"},{"date":"2019-08-19","dateType":"Updated"},{"date":"2015","dateType":"Issued"}],"language":null,"types":{"ris":"GEN","bibtex":"misc","citeproc":"article","schemaOrg":"Collection","resourceType":"Collection","resourceTypeGeneral":"Collection"},"relatedIdentifiers":[],"relatedItems":[],"sizes":[],"formats":[],"version":null,"rightsList":[{"rights":"Creative Commons Attribution 4.0 International","rightsUri":"https://creativecommons.org/licenses/by/4.0/legalcode","schemeUri":"https://spdx.org/licenses/","rightsIdentifier":"cc-by-4.0","rightsIdentifierScheme":"SPDX"}],"descriptions":[{"description":"This article studies a single-item periodic-review inventory problem with stochastic demand, uncertain price, and price search cost. At the beginning of a period, an inventory manager has to decide, considering the current inventory level, whether a price should be searched for at a non-zero cost. Once the price is known, she will have to decide the order size. For tractability the number of realizable prices is limited to two and (\u003ci\u003er\u003c/i\u003e, \u003ci\u003eS\u003c/i\u003e\u003csub\u003e1\u003c/sub\u003e, \u003ci\u003eS\u003c/i\u003e\u003csub\u003e2\u003c/sub\u003e)-type policies are considered, where \u003ci\u003er\u003c/i\u003e is the threshold for the price search decision and \u003ci\u003eS\u003c/i\u003e\u003csub\u003e\u003ci\u003ei\u003c/i\u003e\u003c/sub\u003e is the order-up-to level for price \u003ci\u003ep\u003c/i\u003e\u003csub\u003e\u003ci\u003ei\u003c/i\u003e\u003c/sub\u003e for \u003ci\u003ei\u003c/i\u003e = 1, 2. Although the problem is significantly simplified, it still allows for price speculations by the inventory manager; i.e., she requests a quote but may not buy. The properties of long-run average costs are studies and optimization algorithms are presented. Numerical studies show the effectiveness of the proposed policy compared with classic (\u003ci\u003es\u003c/i\u003e, \u003ci\u003eS\u003c/i\u003e)-type policy and its natural three-parameter extension.","descriptionType":"Abstract"}],"geoLocations":[],"fundingReferences":[],"xml":"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","url":"https://tandf.figshare.com/collections/A_stochastic_inventory_model_with_price_quotation/2006732","contentUrl":null,"metadataVersion":2,"schemaVersion":"http://datacite.org/schema/kernel-4","source":"mds","isActive":true,"state":"findable","reason":null,"viewCount":0,"viewsOverTime":[],"downloadCount":0,"downloadsOverTime":[],"referenceCount":0,"citationCount":0,"citationsOverTime":[],"partCount":0,"partOfCount":0,"versionCount":0,"versionOfCount":0,"created":"2015-12-05T15:34:48.000Z","registered":"2015-12-05T15:34:49.000Z","published":"2015","updated":"2024-03-21T08:30:42.000Z"},"relationships":{"client":{"data":{"id":"figshare.ars","type":"clients"}},"provider":{"data":{"id":"otjm","type":"providers"}},"media":{"data":{"id":"10.6084/m9.figshare.c.2006732","type":"media"}},"references":{"data":[]},"citations":{"data":[]},"parts":{"data":[]},"partOf":{"data":[]},"versions":{"data":[]},"versionOf":{"data":[]}}}}