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Price promotions, operations cost, and profit in a two-stage supply chain

Su, Yiqiang; Geunes, Joseph - In: Omega 40 (2012) 6, pp. 891-905

The phenomenon in which demand variability increases as one moves upstream in the supply chain has been often observed in practice. This so-called “bullwhip effect” often increases upstream operations costs, including inventory holding and transportation costs. Price variations are...

Persistent link: https://www.econbiz.de/10011051831

A free gift card alternative to price discounts in the newsvendor problem

Khouja, Moutaz; Park, Sungjune; Zhou, Jing - In: Omega 41 (2013) 4, pp. 665-678

In this paper, we develop a newsvendor model in which the retailer gives “free” gift cards to consumers who purchase a regularly priced product at the end of the selling season instead of discounting the product. The model is developed for a market with patient consumers. We derive the...

Persistent link: https://www.econbiz.de/10011051863

Centralization versus decentralization: Risk pooling, risk diversification, and supply chain disruptions

Schmitt, Amanda J.; Sun, Siyuan Anthony; Snyder, Lawrence V. - In: Omega 52 (2015) C, pp. 201-212

We investigate optimal system design in a multi-location system in which supply is subject to disruptions. We examine the expected costs and cost variances of the system in both a centralized and a decentralized inventory system. We show that, when demand is deterministic and supply may be...

Persistent link: https://www.econbiz.de/10011190635

Exact and heuristic methods for a class of selective newsvendor problems with normally distributed demands

Strinka, Zohar M.A.; Romeijn, H. Edwin; Wu, Jingchen - In: Omega 41 (2013) 2, pp. 250-258

In this paper we study a class of selective newsvendor problems, where a decision maker has a set of raw materials each of which can be customized shortly before satisfying demand. The goal is then to select which subset of customizations maximizes expected profit. We show that certain...

Persistent link: https://www.econbiz.de/10010580793

An EOQ model with partial delayed payment and partial backordering

Taleizadeh, Ata Allah; Pentico, David W.; Saeed … - In: Omega 41 (2013) 2, pp. 354-368

In many transactions concerning selling and buying, a specified delay of payment is offered or accepted by the seller. This can be regarded as a kind of discount and has potential consequences for the order size. These kinds of effects are not explicitly incorporated in the classical formulas...

Persistent link: https://www.econbiz.de/10010580795

Inventory control for the supply chain: An adaptive control approach based on the identification of the lead-time

Garcia, C.A.; Ibeas, A.; Herrera, J.; Vilanova, R. - In: Omega 40 (2012) 3, pp. 314-327

In this paper, an Internal Model Control (IMC) scheme is incorporated in production inventory control systems in a complete supply chain. This control scheme presents a good target inventory tracking under the perfect knowledge of the system. Furthermore, the inventory tracking and load...

Persistent link: https://www.econbiz.de/10010573973

A note on the random yield from the perspective of the supply chain

Li, Xiang; Li, Yongjian; Cai, Xiaoqiang - In: Omega 40 (2012) 5, pp. 601-610

Keren [The single-period inventory problem: extension to random yield from the perspective of the supply chain. Omega 2009;37:801–10] considers a supply chain in which the distributor faces a known demand and orders from the producer subject to a random production yield, and shows that the...

Persistent link: https://www.econbiz.de/10010577437

A production model for deteriorating items with stochastic preventive maintenance time and rework process with FIFO rule

Wee, Hui Ming; Widyadana, Gede Agus - In: Omega 41 (2013) 6, pp. 941-954

Due to unreliable production facility and stochastic preventive maintenance, deriving an optimal production inventory decision in practice is very complicated. In this paper, we develop a production model for deteriorating items with stochastic preventive maintenance time and rework using the...

Persistent link: https://www.econbiz.de/10010636436

A flexibly structured lot sizing heuristic for a static remanufacturing system

Schulz, Tobias; Voigt, Guido - In: Omega 44 (2014) C, pp. 21-31

An effective planning of lot sizes is a key strategy to efficiently manage a combined manufacturing/remanufacturing …, i.e., a sequence of manufacturing batches is followed by a sequence of remanufacturing batches. We are instead proposing … a flexibly structured heuristic that allows for differently sized remanufacturing batches. We show in a comprehensive …

Persistent link: https://www.econbiz.de/10010738091

OEM product design in a price competition with remanufactured product

Wu, Cheng-Han - In: Omega 41 (2013) 2, pp. 287-298

An original equipment manufacturer (OEM) produces new products and often faces a dilemma when determining the level of interchangeability in its product design. The interchangeability is considered as a degree to which the product can be disassembled without force, and thus an increasing degree...

Persistent link: https://www.econbiz.de/10010870977