Inventory management for dual sales channels with inventory-level-dependent demand
Li Tingting Zhao Xiaobo Xie Jinxing · 2015
收藏
阅读量:36
期刊名称:
Journal of the Operational Research Society   2015 年 66 卷 3 期
发表日期:
2015.03.05
摘要:
This paper studies the inventory management problem of dual channels operated by one vendor. Demands of dual channels are inventory-level-dependent. We propose a multi-period stochastic dynamic programming model which shows that under mild conditions, the myopic inventory policy is optimal for the infinite horizon problem. To investigate the importance of capturing demand dependency on inventory levels, we consider a heuristic where the vendor ignores demand dependency on inventory levels, and compare the optimal inventory levels with those recommended by the heuristic. Through numerical examples, we show that the vendor may order less for dual channels than those recommended by the heuristic, and the difference between the inventory levels in the two cases can be so large that the demand dependency on inventory levels cannot be neglected. In the end, we numerically examine the impact of different ways to treat unmet demand and obtain some managerial insights.
相关专家
相关课题