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 |
|---|---|
| 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:
© 2023 CIRP
- Adaptive manufacturing, Dynamic pricing, Mass customization
- Engineering
Research areas
- Mechanical Engineering
- Industrial and Manufacturing Engineering
