Optimal and Heuristic Decision Strategies for Integrated Production and Marketing Planning

Won Jin Lee · Daesoo Kim

106 citations0/0 files storedDecision Sciences

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Supply Chain and Inventory Management Management and Optimization Techniques Optimization and Mathematical Programming

Abstract

ABSTRACT In this study we examine the effects of integrating production and marketing decisions for a short‐ to medium‐range planning horizon in a profit maximizing firm. We formulate two models for determining price, marketing expenditure, demand or production volume, and lot size for a single product with stable demand when economies of scale are present. The full integration (FI) model simultaneously determines all the decisions involved, while the partial integration (PI) model separates the lot sizing decision from the others, as happens frequently in practice. Geometric programming (GP) techniques and marginal analysis are used to compare FI and PI, and obtain important managerial implications regarding the two models.

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References

1971Marketing Decision Making: A Model Building Approach 1985Investing in Reduced Setups in the EOQ Model 1985Restoring our competitive edge 1988Determining Optimal Selling Price and Lot Size When the Supplier Offers All‐Unit Quantity Discounts*1971Optimal Pricing and Inventory Decisions for Non-Seasonal Items

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2001Optimal inventory policies under decreasing cost functions via geometric programming 2003Linking advertising and quantity decisions in the single-period inventory model 2017A partially integrated production-inventory model with interval valued inventory costs, variable demand and flexible reliability 2015Contract design in a supply chain considering price and quality dependent demand with customer segmentation 2010Manufacturing and marketing integration from a cumulative capabilities perspective 2009Simulation and performance evaluation of partially and fully integrated sales and operations planning 2005Optimal Production and Marketing Planning 2016Optimal production and distribution policies for a two-stage supply chain with imperfect items and price- and advertisement-sensitive demand: A note

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