In market, excess demands for many products can be met by reorder even during one period, and retailers usually adopt substitution strategy for more benefit. Under the retailer＇s substitution strategy and permission ...In market, excess demands for many products can be met by reorder even during one period, and retailers usually adopt substitution strategy for more benefit. Under the retailer＇s substitution strategy and permission of reorder, we develop the profits maximization model for the two-substitutable-product inventory problem with stochastic demands and proportional costs and revenues. We show that the objective function is concave and submodular, and therefore the optimal policy exists. We present the optimal conditions for order quantity and provide some properties of the optimal order quantities. Comparing our model with Netessine and Rudi＇s, we prove that reorder and adoption of the substitution strategy can raise the general profits and adjust down the general stock level.展开更多
In this paper, we study a single-period two-product inventory model with stochastic demands and downward substitution. The optimal order quantities are presented and some properties are provided. Comparing with newsbo...In this paper, we study a single-period two-product inventory model with stochastic demands and downward substitution. The optimal order quantities are presented and some properties are provided. Comparing with newsboy model, we prove that both the profit and the fill rate can be improved by using the substitution policy.展开更多
In this paper,we study a centralized supply chain for a two-stage with selling price discount.This supply chain consists of a supplier and a retailer. Based on the feature that the product’s selling season is short a...In this paper,we study a centralized supply chain for a two-stage with selling price discount.This supply chain consists of a supplier and a retailer. Based on the feature that the product’s selling season is short and the supply chain faces great demand uncertainty. We consider a two-stage scenario where,at the beginning of stage 1,the supplier reserves production capacity based on historic data in advance,stage 2 comes to us after some leadtime,both the supplier and the retailer update the demand information,the retailer then places an order not exceeding the reserved capacity based on the selling-pricing discount dependent demand. We make optimal decisions on the reserved capacity in stage 1,selling price discount and order quantity in stage 2. In this supply chain,the pattern in stage2 is figured out first,and then stage 1 is cleared as well. Then we present a numerical example to give some insights. Finally we get some conclusions.展开更多
文摘In market, excess demands for many products can be met by reorder even during one period, and retailers usually adopt substitution strategy for more benefit. Under the retailer＇s substitution strategy and permission of reorder, we develop the profits maximization model for the two-substitutable-product inventory problem with stochastic demands and proportional costs and revenues. We show that the objective function is concave and submodular, and therefore the optimal policy exists. We present the optimal conditions for order quantity and provide some properties of the optimal order quantities. Comparing our model with Netessine and Rudi＇s, we prove that reorder and adoption of the substitution strategy can raise the general profits and adjust down the general stock level.
基金This work was supported partly by NSFC/RGC Joint Research Program under grant 79910161987the National Science Foundation of China(79825102,70231010,7032 1001)
文摘In this paper, we study a single-period two-product inventory model with stochastic demands and downward substitution. The optimal order quantities are presented and some properties are provided. Comparing with newsboy model, we prove that both the profit and the fill rate can be improved by using the substitution policy.
基金Supported by the National Natural Science Foundation of China(11471053)
文摘In this paper,we study a centralized supply chain for a two-stage with selling price discount.This supply chain consists of a supplier and a retailer. Based on the feature that the product’s selling season is short and the supply chain faces great demand uncertainty. We consider a two-stage scenario where,at the beginning of stage 1,the supplier reserves production capacity based on historic data in advance,stage 2 comes to us after some leadtime,both the supplier and the retailer update the demand information,the retailer then places an order not exceeding the reserved capacity based on the selling-pricing discount dependent demand. We make optimal decisions on the reserved capacity in stage 1,selling price discount and order quantity in stage 2. In this supply chain,the pattern in stage2 is figured out first,and then stage 1 is cleared as well. Then we present a numerical example to give some insights. Finally we get some conclusions.
