International Journal of Inventory Research (6 papers in press)
Inventory Models with Stock-Dependent Demand: A Comprehensive Review and Its Linkage with Waste Management
by Neeta Sharma, Prem Vrat
Abstract: This paper presents a review of the advances in stock-dependent demand inventory literature for the last three decades. The available relevant models have been classified into a number of categories and their principal features have been discussed in brief to bring out more pertinent information regarding model development. An extensive analysis of the literature is presented to identify the future research scope and the factors which are responsible for the poor applicability of these models. Moreover, a very important and missing link between the stock-dependent demand phenomenon and waste has been recognised as a potential field for exploration in materials management as well as in our day-to-day consumption pattern. It has been emphasised that many socio-economic problems which have a root cause in wasteful resource consumption can be solved by incorporating the phenomenon in our waste management practices.
Keywords: inventory models; stock-dependent demand; SDD; stock-induced consumption; stock-induced waste; waste management.
Perishable inventory model with Markovian arrival process (MAP), retrial demands and multiple working vacations
by Vijaya Laxmi Pikkala, Soujanya M.L.
Abstract: In this paper, we consider a continuous review perishable inventory systemrnin which two types of customers, positive and negative, arrive according torna Markovian arrival process. The life time of an item and the lead time ofrnreorder are exponentially distributed. Demands that occur during stock outrnperiod or busy period either enter an orbit of size $N$ or are lost. Thernorbital demands compete their service with an exponential rate dependingrnon the number of demands in the orbit. The waiting demands in the orbit mayrnrenege the system after an exponentially distributed amount of time. The serverrntakes multiple working vacations at zero inventory. The steady staternjoint probability distribution of the number of customers in the orbit andrnthe inventory level is obtained. Various performance measures and cost analysisrnare shown with numerical results.
Keywords: Markovian arrival process; (s,S) policy; Replenishment time; Negative customers;rnMultiple working vacations; Matrix analytic method; Perishable items; Retrial demands.
Research on optimal production decision for "company + farmer" based on farmland leasing model
by Jianjun Yu, Xiaoyong Huang, Kunye Lyu
Abstract: To study the problem of the optimal production decision of risk-neutral company and risk-averse farmer under the "company + farmer" rental model, this paper is on the basis of Based on the traditional newsboy model from the perspective of supply chain coordination. By introducing leasing model, the optimal production decision of supply chain is analyzed in case of considering expected rents. For the case of considering the expected rent, the risk-averse farmer's production decision-making problem is discussed by introducing conditional value-at-risk (CVaR) and the conclusion is drawn that when facing the lower labor costs of agricultural products, the farmer can effectively avoid risks by using rental model under the "company + peasant household".
Keywords: company + farmer；farmland leasing mode；expect rents；CVaR.
The optimal pricing, quantity decision, number of product of online designer with scarcity effect and product variety benefit
by Chun-Hung Chiu, Zhanwen Peng
Abstract: Online sales platform is a new opportunity for fashion designers to promote their own designs. In this article, we investigate the fashion designers optimal pricing and production decisions, and product category management by incorporating the scarcity effect and the product variety benefit. We find that the popularity of the designer is very crucial in this problem. Specifically, a more popular designer can increase the price and product quantity to obtain more profit with less number of product design, while an un-famous designer can benefit from the high demand variability. Moreover, the numerically analysis shows that the un-famous designer can benefit from increasing product variety, but it is not true for the famous designer.
Keywords: category management; designer sales platform; scarcity effect; product variety benefit; pricing and production strategy.
Supply Chain Coordination with Inventory and Pricing Decisions
by Hau-Ling Chan
Abstract: In this study, we conduct a comprehensive literature review on the inventory and pricing decisions under the supply chain coordination. To be specific, we review the publications from 1997 to 2017 and divide the papers into six areas for discussion; they are: decisions under integrated supply chain, supply contract, capital-constrained, competition, risk aversion, and information asymmetry. After reviewing the literature, we identify three major future research directions. First, we propose to explore different real world industrial supply contracts and the forms of demand function. Second, limited studies consider risk aversion behavior of the supply chain members, hence, we also propose to examine the inventory and pricing decisions under supply chain coordination with risk-averse retailer and risk-averse supplier, respectively. Finally, it is also interesting to investigate different types of information asymmetry.
Keywords: Supply chain coordination; inventory and pricing decisions; review.
Special Issue on: Joint Marketing-Inventory Decisions Research
Sale-surety and quality warranty model based on options in supply chain
by Chongping Chen
Abstract: Options can be used to hedge risks caused by different types of uncertainty in supply chain management. The first part of this study examines how to use surety-options to coordinate a retailer-leader supply chain. It develops an option model in which the retailer guarantees sales and the supplier guarantees quality. The retailer and the supplier negotiate the options price and security regulations. The supplier can transfer part of the market risk to the retailer but in return has to bear the quality risk. By the theoretical analysis and the numerical example, this study demonstrates that surety-options can coordinate the supply chain and achieve Pareto-improvement by encouraging the retailer to increase marketing efforts and the supplier to improve the quality.
Keywords: supply chain management; sale-surety and quality warranty; risk sharing.