English, Article edition: PROFITABILITY ANALYSIS OF FREE UPGRADE POLICY JISHAN ZHU

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Physical Description
  • article
Language
  • English

Edition details

Title
  • PROFITABILITY ANALYSIS OF FREE UPGRADE POLICY
Author
  • JISHAN ZHU
Physical Description
  • article
Notes
  • We consider a firm selling two similar products with different prices. When the lower-priced product is out of stock, the firm supplies the customer a higher-priced product with the lower-priced product price. The policy is called free upgrade. In this paper, we study the profitability of such policy. We formulate the problem as a two-product newsvendor problem, and prove that the firm achieves more profit with the free upgrade policy. We propose a simulation algorithm to find the solution and demonstrate our findings with some numerical examples.
  • Inventory, optimization, newsvendor problem, simulation
  • RePEc:wsi:ijitdm:v:07:y:2008:i:02:p:217-224
Language
  • English
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