Optimal control, pricing and empirical analysis of production and inventory systems

生产和库存系统的最优控制、定价和实证分析

• 批准号: 89698-2006
• 负责人: Chen, Hong
• 金额: $ 2.55万
• 依托单位: University of British Columbia
• 依托单位国家: 加拿大
• 项目类别: Discovery Grants Program - Individual
• 财政年份: 2007
• 资助国家: 加拿大
• 起止时间: 2007-01-01 至 2008-12-31
• 项目状态: 已结题
• 来源: https://www.nserc-crsng.gc.ca/ase-oro/Details-Detailles_eng.asp?id=365414
• 关键词: Optimal; control; pricing; empirical; analysis

The proposed program of research is concerned with joint pricing, inventory and production control in production/inventory systems.  First, we consider a production-inventory system with price-sensitive demand. The firm optimizes the expected discounted profit over an infinite horizon by controlling pricing and production rate. In addition to establish the optimality of the produce-up-to policy, we focus on how the optimal production rate and the optimal price vary and interact with other model parameters, particularly the production variability and the demand variability. The second part of the proposal is on analytical and empirical modelling of the random demand. Most literature in joint pricing and inventory control assumes the random component in demand function take either an addictive or a multiplicative form. Different assumptions may lead to different characteristics of optimal pricing and inventory/production control. To apply the theory from this body of research, it is crucial to understand the actual demand characteristics. We propose to examine actual industrial data and to characterize the relationship between demand level, demand variability and prices for various product types. The third part of the proposal is concerned with a production-inventory system with applications to the petroleum refining industry. We consider an individual firm who maximizes its expected discounted utility over an infinite horizon through controlling its procurement, production and sales rate under given raw materials and finished goods prices. In additon to the production and inventory costs, there is a cost associated with production rate adjustment. Then we consider an economy with many such firms and derive the rational expectations equilibrium price, inventory and production processes. We fit the model with actual industry data.

拟议的研究计划涉及生产/库存系统中的联合定价、库存和生产控制，我们考虑具有价格敏感需求的生产库存系统，该公司通过控制定价来优化无限范围内的预期贴现利润。除了建立按产量政策的最优性之外，我们还关注最优生产率和最优价格如何变化以及与其他模型参数（特别是产量可变性和需求可变性）的相互作用。该提案的一部分是关于分析和随机需求的实证模型。大多数关于联合最优定价和库存控制的文献都假设需求函数中的随机成分采用累加或乘法形式。不同的假设可能会导致定价和库存/生产控制的不同特征。根据这一研究体系的理论，我们建议检查实际的工业数据并描述各种产品类型的需求水平、需求变化和价格之间的关系。与生产库存系统及其应用我们考虑一个个体公司，通过在给定的原材料和成品价格下控制其采购、生产和销售率，在无限范围内最大化其预期贴现效用。除了生产和库存成本之外，还有成本。然后，我们考虑具有许多此类企业的经济体，并得出理性预期均衡价格、库存和生产过程。我们将模型与实际行业数据进行拟合。