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Waiting Time in an (S-1,S) Inventory System

✍ Scribed by Isamu Higa, Arlin M. Feyerherm and Arlette L. Machado

Book ID: 123686527
Publisher: INFORMS
Year: 1975
Tongue: English
Weight: 228 KB
Volume: 23
Category: Article
ISSN: 0030-364X
DOI: 10.2307/169849

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## Abstract In this paper, I introduce the idea of adjusting waiting time as an alternative to price adjustment in order to study the relationship between waiting time, demand, profits and inventories. In the model, demand depends on both price and waiting time. Consumers are willing to pay more if