A single-period stocking and pricing problem involving stochastic emergency supply

Serel, Doğan A.

doi:10.1016/j.ijpe.2016.12.016

Cited by 24 publications

(6 citation statements)

References 41 publications

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“…The early single-period coordinating inventory and pricing control models include Mills (1959, 1962), Karlin and Carr (1962), Zabel (1970), Young (1978), Cheng (1984) and Hakan Polatog̈lu (1991). Recent studies on single-period models include Kocabıyıkoğlu et al (2016) and Serel (2017). One stream of literature focuses on multi-period models under the backorder setting.…”

Section: Discussionmentioning

confidence: 99%

A bibliometric analysis of inventory management research based on knowledge mapping

Ge²

2018

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Purpose The research mainly aims at the hotspot of inventory management by knowledge mapping and provides a visualization reference in this research field. Design/methodology/approach First, inventory management journals during 1986 to 2017 were selected as the research object and text formatting in the Web of Science (WOS) database is exported. Then inventory management knowledge mapping is done and clustering keywords are extracted by using CiteSpace and VOSviewer software. Based on co-word analysis, the three special clusters are exported: inventory optimization strategy, inventory pricing and inventory technology. Besides, the clustering structure and time evolution are analysed. Finally, bibliographic item co-occurrence matrix builder (BICOMB) was used to extract the “journal” and “researchers” keywords in the inventory management research fields. Setting three parameters such as the cited half-life, centrality, frequency and keywords for data mining, it can infer the trend keywords of future research. Findings Results showed that inventory management research has been abundant in literature over the past 30 years and has experienced a change from focusing on inventory optimization strategy to inventory pricing and inventory technology in process. It shows that inventory management research focused on the classic topics and includes economic order quantity, dynamic pricing, design and technology, and the new topics include channel coordination, hierarchical price and simulation. Research limitations/implications Based on knowledge mapping, this study is still relatively macro and cannot cover all areas of inventory management. This study only investigated the state of correlational research in WOS and Google Trends and not additional databases. Originality/value The current research mainly builds on knowledge mapping for the research hotspot of inventory management and provides visual references for future research in this field.

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Section: Discussionmentioning

confidence: 99%

A bibliometric analysis of inventory management research based on knowledge mapping

Ge²

2018

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“…The authors assumed that even if an emergency order is implemented, there will be a relatively longer lead time. Serel (2017) developed a model to determine the joint optimal price and production policy of products with uncertain supply capacity. In their model, if the realized demand exceeds the preseason order quantity, an emergency order strategy can be placed, but it is not guaranteed that the supplier will meet the emergency order fully, which is quite different from our assumption that all consumers are satisfied during the sales period.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimal pricing and ordering decisions with reference effect and quick replenishment policy

Zhao

Wang

2021

Int Trans Operational Res

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This paper considers a revenue management problem in which a retailer determines joint pricing and ordering decisions for a single product over a two‐period selling horizon. The goal is to investigate the single and combined influences of reference effect (RE) and quick replenishment (QR) policy on the customers' purchasing behaviors, the retailer's optimal decisions, and the total profit of two periods. We first propose a discrete‐time joint pricing and ordering model with RE and QR policy in the presence of strategic customers. Then we extend to the other two models, in which the retailer does not implement the QR policy and the retailer ignores the customers' RE, to, respectively, explore the values of RE and QR policy to the retailer. Several significant results and managerial insights are derived through theoretical analysis and numerical experiments. Implementing the QR policy could help the retailer cut nearly half of the initial order quantity and improve the profit significantly, especially when the strength of RE is large and the storage cost is high. With the QR policy, if the retailer ignores the RE that factually exists in the customers' minds, she would set lower prices, place fewer initial order quantity, and lose much profit, especially when she sells luxury products or the customers' purchasing behaviors are strongly affected by RE.

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“…In the existing research on emergency supplies, the study of changes in market demand and cost is an important research direction. Serel (2017) makes price decisions, formulates production policies based on supply capacity affected by uncertainty and assumes that demand cannot be met at the same time. Liu et al (2021) find that the optimal price is related to the uncertainty of demand.…”

Section: Literature Reviewmentioning

confidence: 99%

Government regulation of emergency supplies under the epidemic crisis

Chen

Sun

Zhang

et al. 2021

Economic Research-Ekonomska Istraživanja

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This paper constructs a multi-oligopoly model of emergency supplies and analyses the market equilibrium results under normal conditions and epidemic conditions. The impacts of the degree of change in market demand, externalities, the material cost of emergency supplies and government regulation on the equilibrium results, especially on the prices of emergency supplies, are discussed. The results show that an increase in material cost will lead to low output and social welfare and a high price, under either normal conditions or epidemic conditions. Moreover, under epidemic conditions, the degree of change in market demand, externalities, material cost and the presence and mode of government regulation all have multiple and complex influences on the equilibrium results. Under epidemic conditions, both government output and price regulation can increase the supply of emergency supplies. In addition, when market demand changes drastically, consumer surplus and social welfare can be enhanced by the implementation of regulations. Particularly, price regulation is more effective when there is a high material cost.

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A single-period stocking and pricing problem involving stochastic emergency supply

Cited by 24 publications

References 41 publications

A bibliometric analysis of inventory management research based on knowledge mapping

A bibliometric analysis of inventory management research based on knowledge mapping

Optimal pricing and ordering decisions with reference effect and quick replenishment policy

Government regulation of emergency supplies under the epidemic crisis

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