The newsvendor problem with barter exchange
文献类型：期刊论文
| 作者 | Hua, Guowei4; Zhang, Yi1; Cheng, T. C. E.2; Wang, Shouyang3; Zhang, Juliang4 |
| 刊名 | OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE
 |
| 出版日期 | 2020-04-01 |
| 卷号 | 92页码:9 |
| 关键词 | Inventory management Newsvendor problem Barter exchange Order quantity Stochastic demand |
| ISSN号 | 0305-0483 |
| DOI | 10.1016/j.omega.2019.102149 |
| 英文摘要 | Barter exchange, as an alternative to move distressed inventory, has become increasingly popular in business. Many companies barter their unsold product for the product they need via barter exchange platforms at full prices. In this paper we consider the newsvendor problem with the barter exchange option. A retailer (the newsvendor) facing stochastic demand not only sells its product, but also buys other product that it needs from the market. It either trades its unsold product for the product it needs on a barter platform or disposes of its unsold product at discounted prices at the end of the selling season like in the classical newsvendor model. We derive the retailer's optimal order quantity, then analytically and numerically examine the impacts of barter on the retailer's inventory decisions and profit. We find that barter exchange can help the retailer to manage demand uncertainty and improve profit. The optimal order quantity decreases with barter commission and barter uncertainty, while increases with demand uncertainty and the value of the product that the retailer needs. Barter is more advantageous with lower barter commission, larger demand uncertainty, lower barter uncertainty, and higher value of the product it needs. (C) 2019 Published by Elsevier Ltd. |
| 资助项目 | National Natural Science Foundation of China (NSFC)[71831001] ; Beijing Philosophy and Social Science Foundation[13JGB042] |
| WOS研究方向 | Business & Economics ; Operations Research & Management Science |
| 语种 | 英语 |
| WOS记录号 | WOS:000510947600005 |
| 出版者 | PERGAMON-ELSEVIER SCIENCE LTD |
| 源URL | [http://ir.amss.ac.cn/handle/2S8OKBNM/50774]  |
| 专题 | 中国科学院数学与系统科学研究院 |
| 通讯作者 | Hua, Guowei |
| 作者单位 | 1.Beijing Wuzi Univ, Sch Logist, Beijing 100049, Peoples R China 2.Hong Kong Polytech Univ, Dept Logist & Maritime Studies, Hung Hom, Kowloon, Hong Kong, Peoples R China 3.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China 4.Beijing Jiaotong Univ, Sch Econ & Management, Beijing 100044, Peoples R China |
| 推荐引用方式 GB/T 7714 | Hua, Guowei,Zhang, Yi,Cheng, T. C. E.,et al. The newsvendor problem with barter exchange[J]. OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE,2020,92:9. |
| APA | Hua, Guowei,Zhang, Yi,Cheng, T. C. E.,Wang, Shouyang,&Zhang, Juliang.(2020).The newsvendor problem with barter exchange.OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE,92,9. |
| MLA | Hua, Guowei,et al."The newsvendor problem with barter exchange".OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE 92(2020):9. |
入库方式： OAI收割
来源：数学与系统科学研究院
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