Strategic pricing with reference effects in a competitive supply chain

The reference-price effect refers to the demand deviation caused by consumers’ perceived losses or gains when the current market price of a product differs from a cognitive benchmark (known as a reference price) formed by the customers based on past prices. The impact of such a reference effect on the dynamic pricing policy of a monopolist has been widely studied in the literature. However, despite the importance of the topic due to the growing transparency of price information in the Internet era, its relevance in the context of a distribution channel has never been explored. In this study, we consider a supply chain consisting of a manufacturer and a retailer in a bilateral monopoly setting. The two channel members independently choose their pricing strategies to optimize their own benefits in the presence of consumers’ reference-price effects. Based on a deterministic demand function, we derive the equilibrium prices and analyze the resulting profit sensitivity with respect to various factors that crucially shape the reference effects. We conclude that both the centralized and decentralized channels should want consumers to have a higher initial reference price, be more sensitive to the reference-price effect, and be more loyal to their product.     

供应链融资模式下零售商的订货与定价研究

已有零售商订货与定价问题的研究大都忽略了零售商的初始资金,本文在考虑零售商初始资金的情况下,研究零售商面对初始资金不足时,如何借助外部的融资政策做出最优的订货与定价决策.因此,本文分别讨论了零售商在无融资服务,供应链中核心制造商担保下的外部融资服务及核心制造商提供商业信用的内部融资服务下的订货与定价问题,并建立了相应的...     

An option contract pricing model of relief material supply chain

Relief material management which aims to reduce the impact of disaster and maintain social stability is of great importance for nonprofit organization (NPO) such as government, department of civil affair or Red Cross. However, the research of efficiency and performance on this field has long been ignored. In order to improve the efficiency and performance of the relief material management, we apply the supply chain management method into this field. Considering the relief material management system as a supply chain with one buyer and one supplier, we introduce the option contract mechanism into relief material supply chain management. With reasonable assumptions, we design an option contract with two delivery steps, and build an option pricing model with binominal lattice to estimate the different values of the same option contract for both members of supply chain. Furthermore, we analyze the impacts of the different parameters (such as the ratio of inventory, subjective probability of disaster, etc.), on the supply chain and its members in detail. The numerical example presented at last demonstrates that, with two delivery steps, there is a feasible price range of option contract which makes both members of relief material supply chain profitable and willing to conduct the transaction with option contract.     

Production and pricing problems in make-to-order supply chain with cap-and-trade regulation

This paper studies the production and pricing problems in MTO (make-to-order) supply chain containing an upstream manufacturer who produces two products based on MTO production and a downstream retailer. The manufacturer is regulated by cap-and-trade regulation and determines the wholesale prices of the two products. To comply with the regulation, the manufacturer can buy or sell emission permits through an outside market. The retailer determines its order quantities to meet the price-sensitive demands. We derive the optimal total emissions and production quantities of the two products, and based on them, we analyze the impact of emission trading price on the optimal production decisions and the two firms’ optimal profits. The emission trading decisions follow a two-threshold policy and the optimal total emissions are increasing in the cap. However, contrary to intuition, the optimal production quantities of the two products may be decreasing in the cap. The manufacturer׳s optimal profit is decreasing (increasing) in the buying (selling) price of emission permits, and that the retailer׳s optimal profit is decreasing in the buying (selling) price of emission permits. The optimal total emissions are decreasing in buying or selling price of emission permits, however, the optimal production quantities of the two products may be increasing (decreasing) in the buying (selling) price of emission permits. Numerical examples are conducted to illustrate our findings and some managerial insights are presented.     

基于交货期库存协调的供应链转移定价研究

在将缺货成本和延期惩罚成本纳入决策模型的前提下,对供应商—制造商两阶供应链在转移定价、安全库存,以及总成本之间的相互作用进行了探讨:首先探讨基于 Stackelberg 收益共享定价机制的最优决策;然后,以一体化供应链为参照系,探讨对供应链各成员的行为进行优化的两部制(two-part scheme)收益共享转移定价决策在实践中的运用;最后,探讨模型中部分变量变化对最优决策所产生的影响.通过分析发现,承诺的交货期、延期惩罚成本与缺货成本将会影响供应链的总成本和转移定价决策,进而影响供应商的最优库存决策,而制造商则可以通过适当的激励机制设计,激励供应商按照供应链整体最优的方式进行转移定价、安全库存及相关决策.     

The benefits of a cross-docking delivery strategy: a supply chain collaboration approach

In this study, two models are developed to co-ordinate both production and distribution in order to reduce the relevant costs in a supply chain. According to the functions of the distribution centre, there is a distinction between an inventory co-ordination point and an inventory storage point. The former is a cross-docking strategy, and the latter is a traditional warehousing strategy. The manufacturer has distinct production processes when co-operating with the distribution centre. Case study analysis is used to illustrate the models developed, in which the following conclusions can be obtained: the cross-docking distribution strategy will result in tremendous savings in the total system cost for the supply chain. This study makes two important contributions to the production, and logistics literature. First, the range of applications was extended by studying a new combinatorial problem that incorporates cross-docking in a supply chain environment. Second, computational performance with cross docking was evaluated. The benefit delivery policy for a distribution centre was found by means of integrating manufacturer production planning and a distribution centre delivery policy.     

公平感对供应链成员定价决策影响的研究

本文研究公平感对由一个供应商和一个零售商组成的二级供应链中的定价决策的影响,其中供应商决定批发价格,零售商在接受供应商批发价格合同之后决定零售价格,市场需求受到零售价格的线性影响.采用管理实验方法得出,首先,供应商的批发价格和零售商的零售价格均分别低于完全理性假设下的均衡解;供应商是利他性的,即,乐于看到零售商收益的增加,并且,供应商认为零售商是完全理性的,即零售商的决策目标是最大化自身收益;然而,零售商却是刻毒性的,即乐于看到供应商收益的减少.其次,批发价格的变异度大于零售价格的,即供应商决策的难度大于零售商的.给管理者的启示是:供应商应考虑零售商的刻毒性的特征,降低批发价格,以提高零售商接受供应商所提批发价格的概率;此外,还应该为供应商提供辅助决策手段,以降低批发价格的变异度,提高决策的准确性     

不同CSR分担模式下的闭环供应链销售努力与定价决策

本文研究考虑企业社会责任(CSR)闭环供应链的定价及销售努力问题,在制造商、零售商以及二者联合承担CSR三种模式下,分析了CSR行为对闭环供应链销售努力及定价策略的影响。研究表明,无论在何种CSR分担模式下,成员企业的CSR行为不仅有利于降低产品价格,提高零售商的销售努力水平、产品销量及废旧产品回收效果,还有效的增加了制造商的社会福利、第三方及系统的总利润。当制造商或零售商单独承担CSR时,第三方及闭环供应链整体的利润均相等且大于二者联合承担CSR时。当制造商和零售商联合承担CSR时,二者的社会福利均大于其单独承担CSR时,且主导零售商的社会福利较之制造商更大。     

The price of fairness for a two-agent scheduling game minimizing total completion time

Journal of Combinatorial Optimization - This paper studies the price of fairness in a two-agent single machine scheduling game. In this game, two agents compete to perform their jobs on a common...     

Two-period pricing and ordering policy for the dominant retailer in a two-echelon supply chain with demand uncertainty

Retailing channels are increasingly being dominated by ‘power’ retailers who are in a position to dictate prices and ordering schedules to manufacturers and suppliers. A dominant retailer, such as Wal-Mart, has the ‘power’ to decide retail prices of products because there are so many manufacturers who are keen to sell their products through or to such a large and powerful retailer. Several products, such as electronic products, can be sold in the market for some periods during their lifecycles before they retreat, except when they are not popular with consumers after been introduced. Therefore, in case of such products, the retailer should not just consider a single-period pricing and ordering policy. It should make dynamic pricing and ordering decisions based on market demand forecast, in order to obtain maximum cumulative profit from the product during its lifecycle. In this study, we consider this scenario and construct a two-period model to discuss pricing and ordering problems for a dominant retailer with demand uncertainty in a declining price environment. We show that the maximum expected profit function is continuous concave, so the optimal solution to pricing and ordering policy exists and it is the one and only. We also analyze sensitivity of retailer's expected profit to the effects of parameters of price-discount sharing scheme and market demand.     

投资者彩票偏好对股票价格行为的影响研究

首次使用百度搜索指数来度量我国股市投资者的彩票偏好程度,并从市场整体层面研究了投资者彩票偏好对股市收益及其波动的影响.分析了和彩票销售数据的相关性,结果表明彩票偏好指数是有效的.随后使用巨潮系列规模指数进行实证研究后发现:投资者彩票偏好会显著降低滞后1期的股市收益率,这种影响在中、小盘股票中体现得尤为明显;对波动率的影响方面,彩票偏好会显著降低小盘股的当期波动率,并且这种影响主要是通过移动端体现出来的,表明不同端口投资者的彩票偏好对股票价格行为的影响存在异质性.使用上证A股系列指数进行的稳健性检验发现实证结果是基本一致的.     

Joint optimal pricing and advertising policies in a fashion supply chain under the ODM strategy considering fashion level and goodwill

Journal of Combinatorial Optimization - The original design manufacturing (ODM) strategy has become popular in the fashion supply chain field. We consider apparel’s fashion level and...     

The impact of supply chain management practices on competitive advantage and organizational performance

Effective supply chain management (SCM) has become a potentially valuable way of securing competitive advantage and improving organizational performance since competition is no longer between organizations, but among supply chains. This research conceptualizes and develops five dimensions of SCM practice (strategic supplier partnership, customer relationship, level of information sharing, quality of information sharing, and postponement) and tests the relationships between SCM practices, competitive advantage, and organizational performance. Data for the study were collected from 196 organizations and the relationships proposed in the framework were tested using structural equation modeling. The results indicate that higher levels of SCM practice can lead to enhanced competitive advantage and improved organizational performance. Also, competitive advantage can have a direct, positive impact on organizational performance.     

The impact of timely information on organisational performance in a supply chain

Information produced by ERP systems is termed JIT-information, since it is provided at the right time in the right place with a minimum of waste. The JIT-information construct is defined and described and a measurement scale is developed. A JIT-information performance model is proposed and assessed using a structural equation modelling methodology. The results indicate that the model fits the data well: (1) supply chain management strategy positively impacts JIT-information, (2) JIT-information directly impacts both logistics and organisational performance, and (3) logistics performance directly impacts organisational performance.     

基于supply-hub的三级供应链运作成本优化研究

双边际效应是阻碍由多主体组成的三级供应链运作成本优化的基本因素之一。本文建立了循环取货方式下,由多个供应商、一个supply-hub、一个制造商组成的三级供应链运作成本定量模型。分别在供应链集中决策和各成员独立决策条件下对模型进行求解,定量揭示了基于supply-hub的三级供应链中双边际效应产生的原理。通过将利益分配因素引入成本模型,定量分析了帕累托优化产生的条件和优化结果的分配方案。研究表明:制造商生产批量与supply-hub对制造商的配送批量之比是基于supply-hub的三级供应链运作成本的关键影响因素;supply-hub运营商在单独决策时对制造商库存维持成本的忽视是基于supply-hub的三级供应链双边际效应产生的根本原因;供应链成员之间利益再分配是消除双边际效应的基本方法。     

供应链库存协调与优化模型研究

传统的库存管理主要把注意力放在企业内部的库存控制,不注重供应链的协调与合作. 这种局部优化的管理模式导致供应链物流不畅,成本增加,企业及其供应链缺乏竞争力. 供应 链的协调与合作成为改善供应链绩效,增强企业竞争力的重要手段. 在需求和供应都不确定的 情形下,通过模型研究对两阶供应链的库存协调及其价值作了一些有益的探讨. 引入了有效库 存水平的概念,以反映上游缺货对下游库存的影响,构造了定期检查补货模式下的供需双方库 存模型,对安全因子进行整体优化,降低供应链库存成本. 同时,也介绍了安全因子整体优化的 实现机制,并对整体优化的价值作了敏感性分析     

规模不经济下互惠偏好对闭环供应链的影响研究

本文考虑闭环供应链成员的互惠偏好行为,在生产规模不经济下分析互惠偏好行为对闭环供应链的影响,构建了包含供应商和规模不经济生产商的闭环供应链模型,分别探讨了无互惠偏好情形以及双向互惠偏好情形。研究发现,规模不经济会降低回收率和系统利润;系统成员的互惠偏好行为总会提高对方的利润,而降低自身的利润;供应商的互惠偏好总会提高系统利润,渠道效率和消费者剩余,而生产商互惠偏好产生的影响还取决于供应商的互惠态度;仅生产商具互惠偏好时,系统总利润不变;一定条件下,互惠偏好行为会对环境造成影响,但是,该行为能够有效提高整个社会的总福利。     

基于价格折扣的供应链预付款融资策略研究

当供应商面临资金约束时,通过制造商提供预付款的内部融资模式,可以缓解供应商资金约束对制造商及供应链利润的影响,研究了预付款融资模式下供应商和制造商的最优生产和融资决策,并分析了供应商的自有资金、价格折扣两种因素对供应链融资绩效的影响.研究发现:给定价格折扣,只有当供应商的自有资金量小于一定临界值时,供应商才会接受预付款融资合同;如果价格折扣高于一定临界值,实施预付款融资后,供应商的生产能恢复到无资金约束下的最优水平,否则,只有当供应商的自有资金量超过一定值时,预付款融资才能使供应商的生产恢复到无资金约束下的最优水平,并且供应链的绩效不会因供应商的资金约束而受损.研究的结论能为企业制定预付款融资决策提供参考依据.     

The database management system for Sakarya automotive suppliers and supply chain

This paper describes a database management system which was the result of a study carried out by Sakarya University and Adapazari Chamber of Commerce and Industry. The aim of the study was to increase the competitiveness of automotive companies in national and global markets by providing financial, economical and technological information regarding product design, supply chain, quality and job satisfaction. The results indicated that it is of vital importance to generate a supply-chain database management system for better selection of suppliers. Due to the huge number of data to be considered in decision-making, computer support seems to be inevitable.     

Impact of product proliferation on the reverse supply chain

Product variety is one of the most important advantages in highly competitive markets. However, excessive product proliferation's reducing the profit margin has caused increased focus on developing a management method for maximal profit. In a closed-loop supply chain, product proliferation affects the reverse supply chain as well as the forward supply chain. Although increasing the number of product types can better satisfy diverse customer needs, complexity in the product recycling, remanufacturing, and resale processes may erode a firm's overall profits. In this study, we develop a mathematical model for analyzing a capacitated reverse supply chain consisting of a single manufacturer and multiple retailers. We reveal closed-form solutions for the optimal batch size and maximal profit, and discuss managerial insights into how the number of products and other factors can affect both batch size and profit. Finally, we investigate the relationship between product proliferation and the choice of logistics strategy.