Endüstri Mühendisliği Ana Bilim Dalı Tez Koleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12573/419

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Browsing Endüstri Mühendisliği Ana Bilim Dalı Tez Koleksiyonu by Subject "Dynamic Pricing"

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    Pricing strategies under price protection, mid-life returns and end-of-life returns
    (Abdullah Gül Üniversitesi, Fen Bilimleri Enstitüsü, 2022) Yıldız, Barış; AGÜ, Fen Bilimleri Enstitüsü, Endüstri Mühendisliği Ana Bilim Dalı
    In this thesis, we examine a selling environment where a manufacturer-controlled retailer and an independent retailer sell a slow-moving A item. The manufacturer offers the independent retailer price protection against reductions in the wholesale price. The price set by the independent retailer is assumed to be determined by Retail Fixed Markdown (RFM) policy. The manufacturer adopts a periodic-review pricing strategy and each retailer observes price-dependent stochastic demand. We employ Multinomial Logit (MNL) models to forecast customers' preferences based on retail prices. We construct stochastic programming models to determine the manufacturer's pricing strategy in the presence of four distinct price commitment contracts which differ in the supplementary privileges combined with price protection. We also propose a variant Stochastic Dual Dynamic Programming (SDDP) algorithm to determine the manufacturer's approximately optimal pricing strategy by getting around three curses of dimensionality. We observe the impact of critically important contractual parameters on the price, the market shares and the expected true profits. We also evaluate the performance of the proposed algorithm and compare the price commitment contracts in terms of the contractual parameters for which it is crucial to choose a compromise value to ensure high enough profitability for both retailers.