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Table 1: Inventory models with price and production decisions.

Author(s) Year Inventory model Capacity constrain Inventory constrain Multiperiod horizon Whitin [23] 1955 It was linked the price policy and inventory theory and determined the combined policy that yield the maximum profit No No No Thomas [24] 1970 Determines simultaneously the price and production decision with a known deterministic demand function No No Yes Kunreuther and Richard [25] 1971 Determines the price and ordering decision considering a stationary demand curve No No No Cheng [4] 1990 An economic order quantity (EOQ) model that integrates the product pricing and order sizing decisions with storage space and inventory investment limitations No Yes No Harris and Pinder [26] 1995 Determines optimal price and capacity decision for a single-period No No No Kim and Lee [27] 1998 Determines the optimal price, lot size and the capacity decision for a firm with constant price-dependent demands Yes No No Gilbert [28] 1999 Determines the optimal price and production schedule for a product with seasonal demand No No Yes Bhattacharjee and Ramesh [29] 2000 Determines the optimal price and lot size for a product with fixed life perish-ability for a certain number of periods No No Yes Gilbert [30] 2000 Determines the optimal price and production schedule for a product with seasonal price dependent demand Yes No Yes Zhao and Wang [31] 2002 Coordination of price and production schedules in a decentralized supply chain No No Yes Chen and Simchi-Levi [32] 2003 Determines the price and productions decisions No No Yes Deng and Yano [33] 2006 Setting prices and choosing production quantities for a single product over a finite horizon for a capacity-constrained manufacturer facing price-sensitive demands Yes No Yes Chan et al. [17] 2006 Study delayed production and delayed pricing strategies for a multiple period horizon under a general, nonstationary stochastic demand function with a discrete menu of prices Yes No Yes This paper This year Determines the optimal pricing and production master planning in a multi period horizon considering capacity and inventory constraints Yes Yes Yes