Download or read book Optimal Inventory and Pricing Decisions for Supply Chain Management written by Wen Chen and published by . This book was released on 2013 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation contains two major research projects. In the first project, we first study a multi-period inventory planning problem. In each period, the firm under consideration can source from two possibly unreliable suppliers for a price-dependent demand. Our analysis suggests that the optimal procurement policy is neither a simple reorder-point policy nor a complex one without any structure, as previous studies suggest. Instead, we prove the existence of a reorder point for each supplier. No order is placed to that supplier for any inventory level above the reorder point and a positive order is issued to that supplier for almost every inventory level below the reorder point. We characterize conditions under which the optimal policy reveals monotone response to changes in the inventory level. Furthermore, two special cases of our model are examined in detail to demonstrate how our analysis generalizes a number of well-known results in the literature. In the second project, we study a long-run inventory planning problem in which the retailer can replenish inventory and change price adjustment. We establish that it is optimal to change the price from low to high in each replenishment cycle, the optimal order-up-to level may decrease when the ordering cost increases, and fewer customers are served when the unit cost of procurement increases. Additionally, we provide efficient algorithms to compute the optimal stocking and pricing policies.

Download or read book Cost Management in Supply Chains written by Stefan Seuring and published by Springer Science & Business Media. This book was released on 2002-05-03 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply Chain Management and Cost Management are important developments helping companies to respond to increased global competition and demanding customer needs. Within the 23 chapters of the book, more than 35 authors provide insights into new concepts for cost control in supply chains. The frameworks presented are illustrated with case studies from the automotive, textile, white goods, and transportation industry as well as from retailing. Academics will benefit from the wide range of approaches presented, while practitioners will learn from the examples how their own company and the supply chains which they compete in, can be brought to lower costs and better performance.

Download or read book Integrated Production Inventory and Pricing Decisions in Two Echelon Supply Chains written by Changyuan Yan and published by . This book was released on 2012 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis investigates the optimal decisions for maximizing the expected profit level of a supply chain when market demand is price-sensitive. We examine two-echelon supply chains consisting of a single manufacturer and one or more retailers, where the organizations simultaneously determine the retail price, production lot size and inventory replenishment schedules to maximize the profit of the entire supply chain. In particular, we first develop a model for singlemanufacturer single-retailer (SMSR) supply chains, assuming deterministic market demand. We then extend the SMSR model to supply chains with multiple-retailers (i.e. SMMR supply chains). Finally, we examine both SMSR and SMMR supply chains in stochastic market demand environments. We show that supply chain cooperation/centralization brings higher profits for the manufacturer and the retailer(s), and benefits retail consumers with a lower retail price. We propose efficient algorithms for our models and illustrate them through numerical examples. Managerial implications and future research directions are also discussed.

Download or read book Coordinated Supplier Selection Inventory Replenishment and Pricing Decisions in Supply Chain Management written by Lisha Duan and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the popularity of inventory models with supplier selection, this research aims to develop mathematical models for the integrated procurement, inventory planning, and pricing problems in the presence of multiple capacitated suppliers and price-sensitive demand in supply chains, simultaneously determining the selling pricing and inventory policy under a variety of supply contracts. We starts with the development of an operational planning model in a demand-driven serial supply chain with multiple capacitated suppliers. Taking into account delivery time and order frequency, the suppliers offer a novel price break scheme, which is beneficial to both the supplier and the buyer. A mixed-integer linear programming (MILP) formulation is developed to address this dynamic supplier selection and inventory management model aiming at minimizing the overall incurred cost across the entire supply chain with capacity constraints in production, inventory, and transportation. Then, the length of the time period is considered as a variable. A new MILP formulation is derived when each period of the model is split into multiple sub-periods, and under certain conditions, it is proved that the optimal solution and objective value of the original model form a feasible solution and an upper bound for the derived model. Sufficient evidence demonstrates that the length of the time period has a significant influence on supplier selection, lot sizing allocation, and inventory planning decisions. Then, we investigate joint decision making of supplier selection, pricing, and inventory lot-sizing in a two-stage supply chain, where suppliers feature certain capacity and quality levels and the retailer faces a price-sensitive demand, characterized by the logit function. Multiple orders can be placed to potential suppliers within a repeating order cycle. The retailer purchases the items satisfying a lower bound on the average quality level to meet customer demand. In this context, we develop a mathematical model to find an optimal solution for the selling price and inventory replenishment policy, including the set of selected suppliers, order frequency, and order quantity. We further derive a lower bound on the optimal retail price and based on a two-stage piecewise linear approximation (PLA) technique, we develop heuristic algorithms to yield near-optimal solutions to the proposed model. Besides, we provide sufficient justification for the selection of the logit demand function as well as a comparison with other demand functions. A numerical study further suggests the importance of using a precise demand curve to select the set of suppliers, coordinate inventory, and accurately optimize the profit function. Next, we extend the joint pricing, supplier selection and inventory replenishment model to a serial supply chain with multiple stages in a centralized control scenario. Within this supply chain, the first stage faces a supplier selection decision for a particular product that experiences a price-sensitive demand. The buying stage needs to decide which suppliers to choose and how to allocate orders, determining the optimal inventory policy for all stages and the retail price to offer to end customers, while maximizing the total profit of the supply chain. The problem is formulated as a mixed integer nonlinear programming (MINLP) model and a heuristic algorithm is proposed to overcome the complexity of the model. Then, we analyze a special case that considers only one uncapacitated supplier and one buyer. An efficient heuristic is developed and computational experiments are carried out to examine the performance of the proposed heuristics. In addition, we provide a series of numerical examples to illustrate our results and analyze the impact of the parameters within a sensitivity analysis. Finally, we study a pricing and purchasing problem in a two-stage supply chain with one supplier and one retailer, where the retailer faces the price-sensitive demand and the supplier coordinates the supply chain with controllable delivery deviation. Both the retailers demand and the suppliers lead time are stochastic. A risk sharing supply contract is adopted and the supplier compensates the retailer by paying a portion of penalties for early/late delivery. In this direction, we establish a model with a game-theoretic approach to achieve supply chain coordination, simultaneously determining the retailers selling price, order quantity, and order date as well as the suppliers lead time variance. Besides, the models with respect to the constant delivery deviation are also developed and analyzed. Finally, a numerical example is presented and sensitivity analysis regarding the pricing and penalty parameters provide in-depth managerial insights for decision makers.

Download or read book Data Analytics and Artificial Intelligence for Inventory and Supply Chain Management written by Dinesh K. Sharma and published by Springer Nature. This book was released on 2022-11-08 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers new analytics and AI approaches in the areas of inventory control, logistics, and supply chain management. It provides valuable insights for the retailers and managers to improve business operations and make more realistic and better decisions. It also offers a number of smartly designed strategies related to inventory control and supply chain management for the optimal ordering and delivery policies. The book further uses detailed models and AI computing approaches for demand forecasting to planning optimization and digital execution tracking. One of its key features is use of real-life examples, case studies, practical models to ensure adoption of new solutions, data analytics, and AI-lead automation methodologies are included.The book can be utilized by retailers and managers to improve business operations and make more accurate and realistic decisions. The AI-based solution, agnostic assessment, and strategy will support the companies for better alignment and inventory control and capabilities to create a strategic road map for supply chain and logistics. The book is also useful for postgraduate students, researchers, and corporate executives. It addresses novel solutions for inventory to real-world supply chain and logistics that retailers, practitioners, educators, and scholars will find useful. It provides the theoretical and applicable subject matters for the senior undergraduate and graduate students, researchers, practitioners, and professionals in the area of artificial intelligent computing and its applications in inventory and supply chain management, inventory control, and logistics.

Download or read book Optimization and Inventory Management written by Nita H. Shah and published by Springer Nature. This book was released on 2019-08-31 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models’ robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management – inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.

Download or read book Decision Making in Inventory Management written by Nita H. Shah and published by Springer Nature. This book was released on 2021-08-23 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides several inventory models for making the right decision in inventory management under different environments. Basically, the optimal ordering policies are determined for situations with and without shortages in production-inventory systems. The chapters in the book include various features of inventory modeling i.e., inflation, deterioration, supply chain, learning, credit financing, carbon emission policy, stock-dependent demand, among others. The book is a useful resource for academicians, researchers, students, practitioners, and managers who can be benefited with the policies provided in the chapters of the book.

Download or read book Retail Supply Chain Management written by Narendra Agrawal and published by Springer Science & Business Media. This book was released on 2009-06-29 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's retail environment, characterized by product proliferation, price competition, expectations of service quality, and advances in technology, many organizations are struggling to maintain profitability. Rigorous analytical methods have emerged as the most promising solution to many of these complex problems. Indeed, the retail industry has emerged as a fascinating choice for researchers in the field of supply chain management. In Retail Supply Chain Management, leading researchers provide a detailed review of cutting-edge methodologies that address the complex array of these problems. A critical resource for researchers and practitioners in the field of retailing, chapters in this book focus on three key areas: (1) empirical studies of retail supply chain practices, (2) assortment and inventory planning, and (3) integrating price optimization into retail supply chain decisions.

Download or read book Operations Management and Marketing Interface written by Michelle M. H. Şeref and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: ABSTRACT: This dissertation focuses on supply chain management (SCM) decisions under various marketing strategies in the Operations Management (OM) / Marketing interface research area. It is composed of three primary research chapters. The first research chapter examines optimal inventory and pricing decisions under advance selling. Advance selling is a marketing strategy in which consumers have a chance to reserve a product in an advance sales period which occurs prior to the sales period. The retailer in this scenario must make an inventory order decision before the advance sales period begins to best meet demand in both the advance sales and consumption periods. I derive optimal inventory and pricing policies. The second research chapter focuses on optimal pricing and time-to-market decisions in a new product technology (NPD) environment. I consider two generations of a new technology product considering both price and diffusion effects on sales. I derive optimal pricing and time-to-market decisions for three different sales functions. The final research chapter considers the innovation speed of new technologies in a pricing and time-to-market model. I determine the optimal number of generations to offer of a new product in this scenario. All three research chapters contribute to the OM/Marketing research literature by solving business problems from a combined OM and Marketing perspective.

Download or read book Managing Supply Chain Operations written by Lei Lei and published by World Scientific Publishing Company. This book was released on 2017-03-20 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book is suitable for courses at the MBA core level, PGDIBO students who are pursuing International Business at PG level, MS in supply chain management level, upper undergraduate level, and also suitable for executive education. The book is very constructive for managers involved in creating, optimizing or redesigning a supply chain. Readers after reading would unquestionably have say to, the supply chain decision-making process and build academic orientation in logistics.'Global Journal of Enterprise Information SystemThis book, developed in collaboration with the Rutgers Center for Supply Chain Management and based upon research projects conducted with over 100 participating corporations, combines theory and practice in presenting the concepts necessary for strategic implementation of supply chain management techniques in a global environment. Coauthored by top teaching and research faculty and a senior industry executive, this academic/industry partnership ensures the relevance of the text in terms of both practical application and academic rigor.This book introduces students to the key drivers of supply chain performance, including demand forecasting, sales and operations planning, inventory control, capacity analysis, transportation models, supply chain integration, and project management and risk analysis. It is enhanced by real-life examples and case studies as well as strategies from best practices and a focus on social and economic impact. The content reaches beyond a traditional operations management text and draws on the extensive experience of the authors conducting industry projects through the Rutgers Center for Supply Chain Management. The input of senior business executives has been an invaluable asset in presenting a balanced knowledge of both quantitative models and qualitative insights.This book is suitable for courses at the MBA core level, MS in supply chain management level, upper undergraduate level, and also suitable for executive education.

Download or read book Supply Chain Management on Demand written by Chae An and published by Springer Science & Business Media. This book was released on 2006-01-16 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by supply chain researchers, consultants, and practitioners, this book explains the newly emerging techniques and practices for highly efficient supply chain management, made possible by the rapid progress in information and communication technologies.

Download or read book The Definitive Guide to Supply Chain Best Practices written by Robert M. Frankel and published by Pearson Education. This book was released on 2014 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demand management in the supply chain. Supply chain network design and analysis. Risk and uncertainty in the supply chain.

Download or read book Decision Making for Supply Chain Integration written by Hing Kai Chan and published by Springer Science & Business Media. This book was released on 2012-05-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective supply chain integration, and the tight co-ordination it creates, is an essential pre-requisite for successful supply chain management. Decision-Making for Supply Chain Integration is a practical reference on recent research in the area of supply chain integration focusing on distributed decision-making problems. Recent applications of various decision-making tools for integrating supply chains are covered including chapters focusing on: Supplier selection, pricing strategy and inventory decisions in multi-level supply chains, RFID-enabled distributed decision-making, Operational risk issues and time-critical decision-making for sensitive logistics nodes, Modelling end to end processes to improve supply chain integration, and Integrated systems to improve service delivery and optimize resource use. Decision-Making for Supply Chain Integration provides an insight into the tools and methodologies of this field with support from real-life case studies demonstrating successful application of various decision-making techniques. By covering such a range of topics in this way, Decision-Making for Supply Chain Integration is a useful reference for researchers looking to develop their knowledge or find potential new avenues of research.

Download or read book Fundamentals of Supply Chain Theory written by Lawrence V. Snyder and published by John Wiley & Sons. This book was released on 2019-07-01 with total page 956 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensively teaches the fundamentals of supply chain theory This book presents the methodology and foundations of supply chain management and also demonstrates how recent developments build upon classic models. The authors focus on strategic, tactical, and operational aspects of supply chain management and cover a broad range of topics from forecasting, inventory management, and facility location to transportation, process flexibility, and auctions. Key mathematical models for optimizing the design, operation, and evaluation of supply chains are presented as well as models currently emerging from the research frontier. Fundamentals of Supply Chain Theory, Second Edition contains new chapters on transportation (traveling salesman and vehicle routing problems), integrated supply chain models, and applications of supply chain theory. New sections have also been added throughout, on topics including machine learning models for forecasting, conic optimization for facility location, a multi-supplier model for supply uncertainty, and a game-theoretic analysis of auctions. The second edition also contains case studies for each chapter that illustrate the real-world implementation of the models presented. This edition also contains nearly 200 new homework problems, over 60 new worked examples, and over 140 new illustrative figures. Plentiful teaching supplements are available, including an Instructor’s Manual and PowerPoint slides, as well as MATLAB programming assignments that require students to code algorithms in an effort to provide a deeper understanding of the material. Ideal as a textbook for upper-undergraduate and graduate-level courses in supply chain management in engineering and business schools, Fundamentals of Supply Chain Theory, Second Edition will also appeal to anyone interested in quantitative approaches for studying supply chains.

Download or read book The Definitive Guide to Inventory Management written by Matthew A. Waller and published by Pearson Education. This book was released on 2014 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventory management is a critical component of supply chain management, addressing how much inventory should be carried across the supply chain, where to carry it, and how much safety stock is required to meet the organization's cost and customer service objectives. Now, there's an authoritative and comprehensive guide to best-practice inventory management in any organization. Authored by world-class experts in collaboration with the Council of Supply Chain Management Professionals (CSCMP), this text gives students and practitioners a thorough understanding of each leading approach to managing supply chain inventories, and the variables that drive decisions about inventory levels. It discusses the fundamental need for inventory, how product value affects inventory decisions, how to determine inventory levels, how the number of inventory locations affects inventory levels, and new approaches to reducing inventory. Coverage includes: Basic inventory management goals, roles, concepts, purposes, and terminology, including periodic inventory, perpetual inventory, safety stock, cycle count, ABC analysis, carrying and stockout costs, and more Key inventory management elements, processes, and interactions Principles/strategies for establishing efficient and effective inventory flows The critical role of technology in inventory planning and management New approaches to reducing inventory including postponement, vendor-managed inventories, cross-docking, and quick response systems Understanding essential trade-offs between inventory and transportation costs, including the impact of carrying costs Requirements and challenges of global inventory management Best practices for assessing inventory management performance using standard metrics and frameworks

Download or read book Supply Chain Management and its Applications in Computer Science written by Saoussen Krichen and published by John Wiley & Sons. This book was released on 2016-01-19 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply chain management is a key topic for a large variety of strategic decision problems. It is essential in making efficient decisions related to the management of inventory and the delivery of final products to customers. The focus of this book is the understanding of the supply chain taxonomy, the different levels of decision and the impact of one level on another depending on the modeling of the addressed objectives. The authors explore the potential problems that can be addressed within the supply chain, such as the inventory, the transportation and issues of holding, and find applications in numerous fields of study, from cloud computing and networking through to industrial sciences. The reader can find each issue described and its positioning in the supply chain determined. A computer science framework is also developed to show how the use of electronic platforms can aid in the handling of these potential problems.

Download or read book Supply Chain Optimization written by Joseph Geunes and published by Springer Science & Business Media. This book was released on 2006-03-30 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply Chain Optimization captures the latest results in a segment of current research activity in supply chain management. This research area focuses on applying optimization techniques to supply chain management problems. The research papers that make up the volume provide a snapshot of state-of-the-art optimization methods within the field. This book presents rigorous modelling approaches for supply chain operations problems with a goal of improving supply chain performance (or the performance of some segment thereof). It contains high-quality works from leading researchers in the field whose expertise fits within this scope. The book provides a diverse blend of research topics and novel modelling and solution approaches for difficult classes of supply chain operations, planning, and design problems.