Dynamic pricing of product and delivery time in multi-variant production using an actor critic reinforcement learning
Research output: Journal contributions › Journal articles › Research › peer-review
Authors
The profitability of manufacturers in multi-variant production is challenged by the combination of increasing customer requirements and volatile supply chains. A potential solution is dynamic pricing, where customers can select a delivery time and price based on their preferences, and demand can be balanced during peak times. This paper presents a dynamic pricing approach using an actor-critic reinforcement learning agent in combination with a production simulation model and applies it in the automation technology industry.
Original language | English |
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Journal | CIRP Annals |
Volume | 72 |
Issue number | 1 |
Pages (from-to) | 405-408 |
Number of pages | 4 |
ISSN | 0007-8506 |
DOIs | |
Publication status | Published - 01.2023 |
Externally published | Yes |
Bibliographical note
Publisher Copyright:
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- Adaptive manufacturing, Dynamic pricing, Mass customization
- Engineering