Abstract
In the last chapter, we studied the problem of a cost-minimizing manufacturing firm involving production planning and capacity expansion, and its two-level hierarchical decomposition. In this chapter we focus on the problem of a profit-maximizing production-marketing firm that must decide over time on the rate of promotional expenditures which create additional demand for its products and the rate of production in order to meet their demand.
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© 1994 Springer Science+Business Media New York
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Sethi, S.P., Zhang, Q. (1994). Production-marketing systems. In: Hierarchical Decision Making in Stochastic Manufacturing Systems. Systems & Control: Foundations & Applications. Birkhäuser, Boston, MA. https://doi.org/10.1007/978-1-4612-0285-1_11
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DOI: https://doi.org/10.1007/978-1-4612-0285-1_11
Publisher Name: Birkhäuser, Boston, MA
Print ISBN: 978-1-4612-6694-5
Online ISBN: 978-1-4612-0285-1
eBook Packages: Springer Book Archive