The development of optimal dynamic pricing policies which is sensitive to freshness and stock level for perishable products

Perishable products run their life cycle in a short period of time due to the shortness of their shelf lives. Product efficiency falls when especially non-recyclable products are thrown away without being used. Furthermore, this kind of products which unnecessarily occupy shelves of supermarkets cause supermarkets to follow an insufficient stock management policy. Unconscious and unplanned use of our limited natural resources will deteriorate the product portfolio for the future generations. Such unconscious production and consumption patterns will disrupt natural balance and damage sustainability of products. In addition to creating very high costs for producers, sellers and consumers alike, these unsold or stale products lead to environmental problems due to such pricing policies. In other words, although the products which have to be thrown away without being sold are attributed by many managers to be attributable to the unplanned over-orders, the actual reason is something else. The real contributor of the problem is changing purchase attitudes of customers as a result of wrong pricing policies of wholesaler. In addition, limited resources are also consumed fast and in unnecessary amounts. The imbalance in respect to the sustainability of these products leads to increase in the production and procurement costs and failure to achieve balance among them.