Dynamic Joint Decision on Price and Delivery Date in MTO Manufacturer Based on Agent

Juan Hao; Jian Jun Yu; Mian Can Wu

doi:10.4028/www.scientific.net/AMR.860-863.2812

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 860-863Dynamic Joint Decision on Price and Delivery Date...

Dynamic Joint Decision on Price and Delivery Date in MTO Manufacturer Based on Agent

Abstract:

In order to maximize the total profit and improve the service level, based on the perspective of queuing theory, a new approach for dynamic joint decision on price and delivery date in Make-to-order (MTO) manufacturing firms using Q-learning algorithm was proposed. Compared with static price and delivery date policy, the simulation results show that the proposed algorithm performs better in total profit and service level. The total profit does not increase with the growing number of accepted orders and the number of accepted orders must match the production capacity.

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Periodical:

Advanced Materials Research (Volumes 860-863)

Pages:

2812-2816

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.860-863.2812

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Online since:

December 2013

Authors:

Juan Hao*, Jian Jun Yu, Mian Can Wu

Keywords:

Dynamic Joint Decision, MTO Manufacturing, Price/Delivery Date, Q-Learning Algorithm

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