Heuristic Coordination of Decentralized Inventory Systems Using Induced Backorder Costs

In this paper, we investigate a one‐warehouse multiple‐retailer system, where the inventory control decisions are coordinated using a near optimal induced backorder cost, β*. All installations use continuous review installation‐stock (R, Q) policies. The analysis builds on an approximation model where the stochastic warehouse delays are replaced by their correct averages. The contributions include insights as to how β* is influenced by system parameters, and the determination of simple closed form β* estimates. The latter offering a practical means to achieve coordinated control of large size systems.     

Value of Information in Closed Loop Supply Chains

We explore the value of information (VOI) in the context of a firm that faces uncertainty with respect to demand, product return, and product recovery (yield). The operational decision of interest in matching supply with demand is the quantity of new product to order. Our objective is to evaluate the VOI from reducing one or more types of uncertainties, where value is measured by the reduction in total expected holding and shortage costs. We start with a single period model with normally distributed demands and returns, and restrict the analysis to the value of full information (VOFI) on one or more types of uncertainty. We develop estimators that are predictive of the value and sensitivity of (combinations of) different information types. We find that there is no dominance in value amongst the different types of information, and that there is an additional pay‐off from investing in more than one type. We then extend our analysis to the multi‐period case, where returns in a period are correlated with demands in the previous period, and study the value of partial information (VOPI) as well as full information. We demonstrate that our results from the single period model (adapted for VOPI) carry‐over exactly. Furthermore, a comparison with uniformly distributed demand and return show that these results are robust with respect to distributional assumptions.     

基于价格折扣的易腐物品供应链库存的协作控制研究

库存作为供应链上的重要环节,越来越受到企业界和学术界的关注.但是目前对于供应链库存协作控制的研究大多假设库存货物能无限期存放,很少考虑产品在存贮过程中发生的变质、减值等情况,因此现有的以一般产品为对象的供应链库存协作控制研究并不适用于易腐物品.本文以易腐物品为对象,研究如何用价格折扣的激励方式来实现对易腐物品二级供应链库存的协作控制,从而最终达到优化供应链库存的目的.     

民营金字塔企业终极所有者融资约束与非效率投资行为研究

在对金字塔企业终极所有者投资行为进行理论分析的基础上,本文运用我国民营上市公司的非平衡面板数据,考察了民营金字塔企业终极所有者的非效率投资问题。研究发现:在受到融资约束的情况下,终极所有者会发生投资不足的行为;在不受融资约束的情况下,终极所有者出于最大化自身利益的考虑会进行过度投资;而在确保控制权的情况下,终极所有者所持有的现金流权越小,其过度投资越严重;投资者保护环境越差,越有利于终极所有者的过度投资行为。另外,文章运用理论模型探寻了终极所有者隧道挖掘与过度投资之间的关系,研究发现在不受融资约束的情况下二者呈正相关关系。     

Unlocking the Value of RFID

RFID (Radio‐Frequency Identification) technology has shown itself to be a promising technology to track movements of goods in a supply chain. As such, it can give unprecedented visibility to the supply chain. Such visibility can save labor cost, improve supply chain coordination, reduce inventory and increase product availability. Industry reports and white papers are now filled with estimates and proclamations of the benefits and quantified values of RFID. Early adopters are now rallying more and more followers. However, most such claims are educated guesses at best and are not substantiated, that is, they are not based on detailed, model‐based analysis. This paper argues that there is a huge credibility gap of the value of RFID, and that a void exists in showing how the proclaimed values are arrived at, and how those values can be realized. The paper shows that this credibility gap must be filled with solid model analysis, and therefore presents a great opportunity for the Production and Operations Management (POM) research community. The paper reviews some of the ongoing research efforts that attempt to close the credibility gap, and suggests additional directions for further strengthening the POM's contribution to help industry realize the full potentials of RFID.     

多分销中心供应链模型及其牛鞭效应的H∞控制

本文在文^[1]具有一个分销中心供应链模型的基础上,建立了具有多个分销中心的供应链结构模型,采用供应链上游库存与订货偏差波动之和与下游顾客需求偏差波动之比描述牛鞭效应。提出顾客末端需求波动最差条件下H_∞控制方法,以抑制牛鞭效应。这一方法本质就是供应链末端需求波动最差情况下,制定供应链管理的最优决策。并且以一个石油分销系统为对象进行了供应链牛鞭效应的H_∞控制仿真实验。     

直接融资结构对经济增长的非线性影响

伴随着中国经济的高速发展,实体经济结构与金融结构难以匹配的问题日益严重,大量中小企业日益增长的融资需求无法得到满足。股权融资与债券融资结构优化问题成为企业融资决策的普遍难题。本文致力于研究直接融资结构即股权融资和债券融资的比例对于中国经济增长的影响。首先,本文通过内生增长理论模型研究了直接融资结构与经济增长之间的动态关系。然后,基于2002-2019年间中国的相关数据,对技术创新变量进行中介效应检验,验证直接融资结构对于经济增长的作用路径。研究发现：直接融资结构对中国经济增长的影响呈现非线性效应;直接融资结构是通过促进技术创新来进一步促进经济增长;目前,中国仍处于需要提高股权融资占比来促进经济快速增长的阶段。     

风险资本多阶段投资决策分析

分段投资是风险资本投入阶段的基本运作方式。本文假设风险资本以权益资本的形式进行投资,研究风险资本的多阶段投资决策问题。在对风险资本投资的安全性进行分析的基础上,提出超额收益极大化决策目标下的最优投资决定模型,给出了分段投资的序列决策方法。     

直接融资与经济增长的理论和实证分析——基于对不同融资业务的成本比较

通过对Deidda（2006）的金融内生增长模型进行改进和分析,得到如下结论：如果从融资成本的角度考虑,金融机构适度增加直接融资业务的比重,能减少全社会的融资成本,进而增加家庭的投资收益、企业及全社会生产资本的积累,最终使得稳态经济增长率得以提升。同时运用我国的相关数据证明了我国现阶段适度提高直接融资业务的比重确实能促进经济增长率的提高。     

西部新农合筹资适度性分析

新型农村合作医疗制度（以下简称新农合）是由政府组织引导支持,农民自愿参加,个人、集体和政府多方筹资,以大病统筹为主的农民医疗互助共济制度。实现这项制度的可持续发展,既是一项政治任务,同时也是一项经济活动。本文结合我国西部地区近几年新农合的运行情况对筹资的适度性进行分析并提出意见建议,以实现这项制度的可持续发展。