Optimal Decisions in a Single-Period Supply Chain with Price-Sensitive Random Demand under a Buy-Back Contract

Wang, Rui; Choi, In Chan

doi:10.1155/2014/786803

Cited by 9 publications

(5 citation statements)

References 20 publications

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“…When Zhao et al (2014) analyzed the buyback model by studying the uncertainty level, they also analyzed the equilibrium when using buyback and non-buyback, but they did not use a Nash equilibrium solution for analysis, as we do. The paper most similar to our research is the work of Wang and Choi (2014), who studied the repurchase contract in a single cycle and showed that the supply chain has a unique Pareto-optimal solution. They also showed that when the Pareto equilibrium was reached, the supply chain would be coordinated.…”

Section: Literature Reviewsupporting

confidence: 55%

“…We assume the condition of h ’( x ) >* 0, which is known as the increasing failure rate (IFR) condition; it imposes a very mild restriction on the demand distribution, as it can be satisfied by many distributions (e.g. uniform, normal, exponential and gamma with parameter restrictions) (Wang and Choi, 2014). The condition dhtrue(xtrue)dx+h2true(xtrue)>0 is implied by IFR condition.…”

Section: Decentralized Decision-making In the Supply Chainmentioning

confidence: 99%

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Research on the variable buyback contract

Liu

Yang

2020

JM2

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Purpose Based on the traditional buyback model, this paper aims to propose a new buyback method – the variable buyback contract – to solve the serious inventory backlog in the current economic situation. Design/methodology/approach In this paper, the authors further study the buyback problem in a two-level supply chain with uncertain demand. Such a problem can be found in many research papers, which also use the Stackelberg game model. They put forward many factors that affect the buyback price, including risk preference, random arrival of consumers, etc. Different from the existing research, the authors propose another factor that may affect supply chain buyback – the retailer's remaining inventory to study the buyback contract. Findings First, the authors found that under the variable buyback contract, there is an optimal retail price, wholesale price and an optimal range of parameter settings for the buyback price. Second, the proposed Pareto-optimal solution for system improvement can achieve supply chain coordination. Third, under some conditions, the variable buyback contract is better than the wholesale price contract and fixed-price buyback contract. Originality/value First, this is the first paper to discuss to measure the buyback price with the retailer's remaining inventory. Second, the proposed buyback contract can help decision-makers to choose the optimal improvement strategies. Third, this contract has a certain practical significance, which can effectively alleviate the current inventory backlog problem.

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Section: Literature Reviewsupporting

confidence: 55%

Section: Decentralized Decision-making In the Supply Chainmentioning

confidence: 99%

Research on the variable buyback contract

Liu

Yang

2020

JM2

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“…Our research is motivated by the defciency of results. On the other hand, there are several studies that analyzed the supply chain considering random demand, but these studies did not consider the characteristics of production-time-dependent products [28][29][30][31][32]. In this paper, we analyze the supply chain considering both random demand and production-timedependent product characteristics, and this is the diference between our study and previous studies.…”

Section: Introductionmentioning

confidence: 74%

A Stochastic Model for an Input Control Problem in a Two-Level Supply Chain for Production-Time-Dependent Products with Random Demands

Kim

Han

2022

Mathematical Problems in Engineering

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Inspired by the poultry farming process, we studied an input control problem in a two-level supply chain for production-time-dependent products with random demands. Poultry farms deliver chicks in batches, and the raising process begins at timed intervals. Chicks become broilers after a predetermined raising time. The broilers in the process are shipped to manufacturing plants to satisfy the demand. The remaining chicks grow to the next product size to satisfy the demands for larger chickens. This procedure is repeated until the chicks are fully grown. After the chicks are grown to satisfy the demand for the largest size, the remaining chicks are discarded. In this paper, a stochastic model is presented to study an input control problem in the poultry farming process. Because of the production density, feed, and temperature control, one important issue in the operation of a poultry company is the determination of the raising interval and quantity of input (chicks). While existing mathematical models can provide effective information on the production-planning problem of systems, research has not been conducted on cases of random demand. Identifying a recursive structure and Markovian property for the number of raw materials (chicks) and the unfulfilled demand for each product type in the system, we demonstrate that embedded Markov chain models can be obtained. The equilibrium probabilities of the models can be calculated using matrix analytic methods or probability generating functions. Various numerical experiments are conducted to analyze how performance measures such as amount of disposal, unsatisfied demands, and total cost (considering disposal cost and opportunity cost) change with system parameters.

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“…The two are no longer in a game state, but a community of interests, and the intermediary organization will represent the interests of farmers to negotiate with the leading chili enterprises. Under the interest connection mode of "pepper leading enterprises + intermediary organizations + farmers", this paper only considers the game between intermediary organizations and pepper leading enterprises [5].…”

Section: Intermediary Organizationmentioning

confidence: 99%

Tripartite Game Analysis of Zunyi Pepper Industry Chain Based on Game Theory

2024

agrfem

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Zunyi is a very important pepper producing area in China today, and the pepper industry plays a very important role in local economic development and farmers' income increase. However, in the current pepper industry chain, the interest connection between leading enterprises, intermediary organizations and farmers is not close, and contradictions and conflicts occur from time to time. This situation seriously hinders the healthy and sustainable development of the chili industry in Zunyi, and poses a threat to the stability and growth of farmers' income. This article is based on the framework of game theory, and analyzes the interest linkage mode of Zunyi pepper leading enterprises, intermediary organizations and farmers. The paper summarized the problems existing in the current pepper industry chain, and put forward the corresponding solutions, in order to promote the development of Zunyi pepper industry and increase the interests of farmers to provide theoretical reference and practical guidance.

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Optimal Decisions in a Single-Period Supply Chain with Price-Sensitive Random Demand under a Buy-Back Contract

Cited by 9 publications

References 20 publications

Research on the variable buyback contract

Research on the variable buyback contract

A Stochastic Model for an Input Control Problem in a Two-Level Supply Chain for Production-Time-Dependent Products with Random Demands

Tripartite Game Analysis of Zunyi Pepper Industry Chain Based on Game Theory

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