Pricing, Warranty Length and Inventory Management, M.Sc. Thesis Sharif University of Technology ; Akhavan Niaki, Taghi (Supervisor)
Abstract
This study investigates optimal strategies for price, warranty length and production rate of a new product to maximize profit of a producer during lifecycle of the product. We consider both durable products and non-durable ones. Customers buy non-durable products many times but if we consider the planning horizon relatively short, each customer buys one product during the period. So, the market for non-durable products is static and for durable ones is dynamic. The objective function includes both demand and cost functions, where production cost, warranty cost and inventory costs are involved. A solution approach using the maximum principle is described and some propositions are discussed...
Cataloging briefPricing, Warranty Length and Inventory Management, M.Sc. Thesis Sharif University of Technology ; Akhavan Niaki, Taghi (Supervisor)
Abstract
This study investigates optimal strategies for price, warranty length and production rate of a new product to maximize profit of a producer during lifecycle of the product. We consider both durable products and non-durable ones. Customers buy non-durable products many times but if we consider the planning horizon relatively short, each customer buys one product during the period. So, the market for non-durable products is static and for durable ones is dynamic. The objective function includes both demand and cost functions, where production cost, warranty cost and inventory costs are involved. A solution approach using the maximum principle is described and some propositions are discussed...
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