Coordinated Pricing and Inventory Management

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This award is funded under the American Recovery and Reinvestment Act of 2009 (Public Law 111-5).This grant provides funding for the development of mathematical models integrating production, inventory and pricing decisions in a host of centralized/decentralized supply chain systems as well as the development of efficient algorithms to solve these models. A common theme throughout this proposal is to build and analyze comprehensive inventory and pricing models taking into account a variety of real-world issues and design efficient computational algorithms for solving these models. A major emphasis of this proposed research is to develop inventory and pricing models that incorporate knowledge of pertinent consumer behavior and supply chain risk management models that integrate operations and finance decisions. The PI also plans to analyze and design collaboration mechanisms for complex decentralized supply chains that may include retailers competing or cooperating on inventory and pricing. If successful, the proposed research will greatly advance our knowledge base of important and challenging supply chain models. Equally important, the proposed research has the potential to provide new tools and methodologies to effectively manage supply chains and thus improve companies' competitive advantage. The advanced mathematical models and algorithms to be explored in this proposal will serve as a basis for the development of the much needed theory that will allow to cut across traditional organizational barriers within a firm and across companies and improve supply chain efficiencies.