6,655 research outputs found
Nash Game Model for Optimizing Market Strategies, Configuration of Platform Products in a Vendor Managed Inventory (VMI) Supply Chain for a Product Family
This paper discusses how a manufacturer and its retailers interact with each other to optimize their product marketing strategies, platform product configuration and inventory policies in a VMI (Vendor Managed Inventory) supply chain. The manufacturer procures raw materials from multiple suppliers to produce a family of products sold to multiple retailers. Multiple types of products are substitutable each other to end customers. The manufacturer makes its decision on raw materialsĂąâŹâą procurement, platform product configuration, product replenishment policies to retailers with VMI, price discount rate, and advertising investment to maximize its profit. Retailers in turn consider the optimal local advertising and retail price to maximize their profits. This problem is modeled as a dual simultaneous non-cooperative game (as a Nash game) model with two sub-games. One is between the retailers serving in competing retail markets and the other is between the manufacturer and the retailers. This paper combines analytical, iterative and GA (genetic algorithm) methods to develop a game solution algorithm to find the Nash equilibrium. A numerical example is conducted to test the proposed model and algorithm, and gain managerial implications.supply chain management;nash game model;vendor managed inventory
Energy demand models for policy formulation : a comparative study of energy demand models
This paper critically reviews existing energy demand forecasting methodologies highlighting the methodological diversities and developments over the past four decades in order to investigate whether the existing energy demand models are appropriate for capturing the specific features of developing countries. The study finds that two types of approaches, econometric and end-use accounting, are used in the existing energy demand models. Although energy demand models have greatly evolved since the early 1970s, key issues such as the poor-rich and urban-rural divides, traditional energy resources, and differentiation between commercial and non-commercial energy commodities are often poorly reflected in these models. While the end-use energy accounting models with detailed sector representations produce more realistic projections compared with the econometric models, they still suffer from huge data deficiencies especially in developing countries. Development and maintenance of more detailed energy databases, further development of models to better reflect developing country context, and institutionalizing the modeling capacity in developing countries are the key requirements for energy demand modeling to deliver richer and more reliable input to policy formulation in developing countries.Energy Production and Transportation,Energy Demand,Environment and Energy Efficiency,Energy and Environment,Economic Theory&Research
Smart Pricing: Linking Pricing Decisions with Operational Insights
The past decade has seen a virtual explosion of information about customers and their preferences. This information potentially allows companies to increase their revenues, in particular since modern technology enables price changes to be effected at minimal cost. At the same time, companies have taken major strides in understanding and managing the dynamics of the supply chain, both their internal operations and their relationships with supply chain partners. These two developments are narrowly intertwined. Pricing decisions have a direct effect on operations and visa versa. Yet, the systematic integration of operational and marketing insights is in an emerging stage, both in academia and in business practice. This article reviews a number of key linkages between pricing and operations. In particular, it highlights different drivers for dynamic pricing strategies. Through the discussion of key references and related software developments we aim to provide a snapshot into a rich and evolving field.supply chain management;inventory;capacity;dynamic pricing;operations-marketing interface
How Useful Is The Genuine Savings Rate As A Macroeconomic Sustainability Indicator For Countries And Regions? Australia And Queensland Compared
This paper demonstrates how macroeconomic indicators of sustainable development can be applied to the Queensland economy. We derive a Genuine Savings Rate (GSR) for Queensland for the period 1989 to 1999, which is then compared with the World Bank estimate of Australia's GSR for the same period. Specifically, we examine how well a single "headline" indicator based on the World Bank's GSR performs as a measure of overall sustainability. In doing so, we review criticisms of the GSR and compare its potential policy directives with those emerging from the use of net state savings and then the GSR as part of a suite of indicators.
The Resource-Based View, Dynamic Capabilities and SME Performance for SMEs to Become Smart Enterprises
 This article explores critical areas for enhancing the competitiveness of SMEs in the globalized economy. Due to the fiercer nature of current competitiveness, the business sector has to adapt and enhance their capability in response to rapid environmental changes. This article explores the Resource-Based View (RBV) and Dynamic Capability perspective and their effects on the performance of small and medium-sized enterprises (SMEs). This review shows that the concept of RBV contributes to driving SME performance. Dynamic capability, which is part of the management process, also helps in stimulating RBV to enhance the performance of SMEs and their competitive advantages. Additionally, this article provides several useful implications for policy that is related to the development of SMEs. It will, hopefully, contribute to the process of developing effective strategies within their organizations. It will also be of great value for researchers and practitioners who are involved in the SME sector
Managing demand uncertainty: probabilistic selling versus inventory substitution
Demand variability is prevailing in the current rapidly changing business environment, which makes it difficult for a retailer that sells multiple substitutable products to determine the optimal inventory. To combat demand uncertainty, both strategies of inventory substitution and probabilistic selling can be used. Although the two strategies differ in operation, we believe that they share a common feature in combating demand uncertainty by encouraging some customers to give up some specific demand for the product to enable demand substitution. It is interesting to explore which strategy is more advantageous to the retailer. We endogenize the inventory decision and demonstrate the efficiency of probabilistic selling through demand substitution. Then we analyze some special cases without cannibalization, and computationally evaluate the profitability and inventory decisions of the two strategies in a more general case to generate managerial insights. The results show that the retailer should adjust inventory decisions depending on products' substitution possibility. The interesting computational result is that probabilistic selling is more profitable with relatively lower product similarity and higher price-sensitive customers, while inventory substitution outperforms probabilistic selling with higher product similarity. Higher demand uncertainty will increase the profitability advantage of probabilistic selling over inventory substitution.Peer ReviewedPostprint (author's final draft
Nash game model for optimizing market strategies, configuration of platform products in a Vendor Managed Inventory (VMI) supply chain for a product family
This paper discusses how a manufacturer and its retailers interact with each other to optimize their product marketing strategies, platform product configuration and inventory policies in a VMI (Vendor Managed Inventory) supply chain. The manufacturer procures raw materials from multiple suppliers to produce a family of products sold to multiple retailers. Multiple types of products are substitutable each other to end customers. The manufacturer makes its decision on raw materials' procurement, platform product configuration, product replenishment policies to retailers with VMI, price discount rate, and advertising investment to maximize its profit. Retailers in turn consider the optimal local advertising investments and retail prices to maximize their profits. This problem is modeled as a dual simultaneous non-cooperative game (as a dual Nash game) model with two sub-games. One is between the retailers serving in competing retail markets and the other is between the manufacturer and the retailers. This paper combines analytical, iterative and GA (genetic algorithm) methods to develop a game solution algorithm to find the Nash equilibrium. A numerical example is conducted to test the proposed model and algorithm, and gain managerial implications. © 2010 Elsevier B.V. All rights reserved.postprin
Gendered effects of work and participation in collective forest management
This paper reports the results of a statistical investigation of the relationship between labor time expended in rural livelihoods, social structure, and community forest management. The object is to understand the impact of labor constraints to collective action. There are three main results. First, increasing time burden of work has a negative impact on collective forest management. Second, the gendered nature of work imposes a high burden on women and hence impedes their ability to participate in collective management even if incentives exist. In addition, lower access to social infrastructure further increases work burdens and decreases ability to participate. Finally, high levels of wealth lead to lower individual participation but this not because of high opportunity of time worked.time use; collective action; gender; forests; South Asia; India
Nash Game Model for Optimizing Market Strategies, Configuration of Platform Products in a Vendor Managed Inventory (VMI) Supply Chain for a Product Family
This paper discusses how a manufacturer and its retailers interact with each other to optimize their product marketing strategies, platform product configuration and inventory policies in a VMI (Vendor Managed Inventory) supply chain. The manufacturer procures raw materials from multiple suppliers to produce a family of products sold to multiple retailers. Multiple types of products are substitutable each other to end customers. The manufacturer makes its decision on raw materialsâ procurement, platform product configuration, product replenishment policies to retailers with VMI, price discount rate, and advertising investment to maximize its profit. Retailers in turn consider the optimal local advertising and retail price to maximize their profits. This problem is modeled as a dual simultaneous non-cooperative game (as a Nash game) model with two sub-games. One is between the retailers serving in competing retail markets and the other is between the manufacturer and the retailers. This paper combines analytical, iterative and GA (genetic algorithm) methods to develop a game solution algorithm to find the Nash equilibrium. A numerical example is conducted to test the proposed model and algorithm, and gain managerial implications
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