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Joint determination of inventory replenishment and sales effort with uncertain market responses.(Report)

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.ijpe.2009.11.011 Byline: Ying Wei (a), Youhua (Frank) Chen (b) Abstract: An optimal joint operational and marketing decision is crucial for robust supply chain management. This paper addresses concurrent deter... Full description

Journal Title: International Journal of Production Economics Dec, 2011, Vol.134(2), p.368(7)
Main Author: Wei, Ying
Other Authors: Chen, Youhua (Frank)
Format: Electronic Article Electronic Article
Language: English
Subjects:
ID: ISSN: 0925-5273
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recordid: gale_ofa266065297
title: Joint determination of inventory replenishment and sales effort with uncertain market responses.(Report)
format: Article
creator:
  • Wei, Ying
  • Chen, Youhua (Frank)
subjects:
  • Inventory Control
ispartof: International Journal of Production Economics, Dec, 2011, Vol.134(2), p.368(7)
description: To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.ijpe.2009.11.011 Byline: Ying Wei (a), Youhua (Frank) Chen (b) Abstract: An optimal joint operational and marketing decision is crucial for robust supply chain management. This paper addresses concurrent determination of inventory replenishment and sales effort decisions such as price, incentives to salesforce, and short-term promotions, or a combination of them. Market responses to sales efforts are typically highly uncertain, and demand in each period has its distribution dependent on the selected sales effort. In each period a replenishment order may be issued, which incurs both fixed and variable ordering costs, and at the same time the sales effort is also determined, the execution of which may incur costs. For such a model, the previously developed methods which are used for the joint inventory-pricing models become inadequate. A computational procedure for obtaining an optimal joint policy is addressed, and the conditions for the optimality of that policy are identified. Author Affiliation: (a) Universite catholique de Louvain, CORE, B-1348 Louvain-la-Neuve, Belgium (b) Department of Systems Engineering and Engineering Management, Chinese University of Hong Kong, Shatin, N.T., Hong Kong
language: English
source:
identifier: ISSN: 0925-5273
fulltext: fulltext
issn:
  • 0925-5273
  • 09255273
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titleJoint determination of inventory replenishment and sales effort with uncertain market responses.(Report)
descriptionTo link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.ijpe.2009.11.011 Byline: Ying Wei (a), Youhua (Frank) Chen (b) Abstract: An optimal joint operational and marketing decision is crucial for robust supply chain management. This paper addresses concurrent determination of inventory replenishment and sales effort decisions such as price, incentives to salesforce, and short-term promotions, or a combination of them. Market responses to sales efforts are typically highly uncertain, and demand in each period has its distribution dependent on the selected sales effort. In each period a replenishment order may be issued, which incurs both fixed and variable ordering costs, and at the same time the sales effort is also determined, the execution of which may incur costs. For such a model, the previously developed methods which are used for the joint inventory-pricing models become inadequate. A computational procedure for obtaining an optimal joint policy is addressed, and the conditions for the optimality of that policy are identified. Author Affiliation: (a) Universite catholique de Louvain, CORE, B-1348 Louvain-la-Neuve, Belgium (b) Department of Systems Engineering and Engineering Management, Chinese University of Hong Kong, Shatin, N.T., Hong Kong
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abstractTo link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.ijpe.2009.11.011 Byline: Ying Wei (a), Youhua (Frank) Chen (b) Abstract: An optimal joint operational and marketing decision is crucial for robust supply chain management. This paper addresses concurrent determination of inventory replenishment and sales effort decisions such as price, incentives to salesforce, and short-term promotions, or a combination of them. Market responses to sales efforts are typically highly uncertain, and demand in each period has its distribution dependent on the selected sales effort. In each period a replenishment order may be issued, which incurs both fixed and variable ordering costs, and at the same time the sales effort is also determined, the execution of which may incur costs. For such a model, the previously developed methods which are used for the joint inventory-pricing models become inadequate. A computational procedure for obtaining an optimal joint policy is addressed, and the conditions for the optimality of that policy are identified. Author Affiliation: (a) Universite catholique de Louvain, CORE, B-1348 Louvain-la-Neuve, Belgium (b) Department of Systems Engineering and Engineering Management, Chinese University of Hong Kong, Shatin, N.T., Hong Kong
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