Channel Performance Under Vendor Managed Consignment Inventory Contract with Additive Stochastic Demand

• Autorzy: Milena Bieniek
• Języki publikacji: EN

Abstrakty

EN

Consignment as the shifting of the inventory ownership to a supplier is widely implemented in virtual market. In this form of business arrangement the supplier places goods at a retailer's location without receiving payment, until the goods are sold. We consider a single period supply chain model, where the supplier contracts with the retailer with some probability of return. Market demand is additive, linearly price-dependent and uncertain. We focus on vendor managed consignment inventory (VMCI) channel, in which the supplier decides the consignment price and his service level and the retailer chooses the retail price. We study channel performance under VMCI setting by analysing how the model parameters influence decision quantities, channel profit and risk function. We also illustrate the obtained results by a numerical example, which explains the overall solutions well. (original abstract)

Słowa kluczowe

PL

Łańcuch dostaw; Zarządzanie zapasami; Zarządzanie operacyjne

EN

Supply chain; Inventory management; Operations management

• Czasopismo: Statistics in Transition
• Rocznik: 2018
• Tom: 19
• Numer: nr 3
• Strony: 551-561

Twórcy

autor

Milena Bieniek

• Maria Curie-Skłodowska University in Lublin, Poland

Bibliografia

• BIENIEK, M.,(2017). Consignment Contracting with Inventory Control with Additive Price-Dependent Demand. In: Yu. G. Evtushenko, M. Yu. Khachay, O. V. Khamisov, Yu. A. Kochetov, V. U. Malkova, M. A. Posypkin (eds.): Proceedings of the OPTIMA-2017 Conference, Petrovac, Montenegro, 2017, http://ceur-ws.org., 1987, pp. 88-94.
• HU, W., CHEN, D., YU, H., (2017). Benefit and risk analysis of consignment contracts. Annals of Operations Research, 257, pp. 641-659.
• HU, W., LI, Y., GOVINDAN, K., (2014). The impact of consumer returns policies on consignment contracts with inventory control. European Journal of Operational Research, 233, pp. 398-407.
• KOCABIYIKOGLU, A., POPESCU, I., (2011). An elasticity approach to the newsvendor with price-sensitivity demand. Operations Research, 59, pp. 301-312.
• LEE, C., CHU, W., (2005). Who should control the inventory in a supply chain? European Journal of Operational Research, 164, pp. 158-172.
• LI, S., ZHU, Z., HUANG, L., (2009). Supply chain coordination and decision making under consignment contract with revenue sharing. International Journal of Production Economics, 120, pp. 88-99.
• MOSTARD, J., TEUNTER, R., (2006). The newsboy problem with resalable returns: A single model and case study. European Journal of Operational Research, 16, pp. 81-96.
• OGRYCZAK, W., RUSZCZYNSKI, J., (2001). On consistency of stochastic dominance and mean-semideviation models. Mathematical Programming, 89, pp. 217-232
• OLAH, J., LAKNER, Z., HOLLOSI, P., POPP, J., (2017). Inventory methods in order to minimize raw materials at the inventory level in the supply chain. LogForum, 13, pp. 439-454.
• PETRUZZI, N. C., DADA, M., (1999). Pricing and newsvendor problem: a review with extensions. Operations Research, 47, pp. 183-194.
• RU, J., WANG, Y., (2010). Consignment contracting: Who should control inventory in the supply chain? European Journal of Operational Research, 201, pp. 760-769.
• RUBIO-HERRERO, J., BAYKAL-GURSOY, M., JASKIEWICZ, A., (2015). A price setting newsvendor problem under mean-variance criteria. European Journal of Operational Research, 247, pp. 575-587.
• WANG, Y., JIANG, L., SHEN, Z.-J., (2004). Channel performance under consignment contract with revenue sharing. Management Science, 50, pp. 34-47.

Identyfikatory

DOI

10.21307/stattrans-2018-030