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Article: Practical and effective contracts for the dominant retailer of a newsvendor product with price-sensitive demand

TitlePractical and effective contracts for the dominant retailer of a newsvendor product with price-sensitive demand
Authors
KeywordsDominant retailer
Newsvendor product
Pricing
Supply chain contracts
Issue Date2012
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijpe
Citation
International Journal Of Production Economics, 2012, v. 138 n. 1, p. 46-54 How to Cite?
AbstractA manufacturer supplies a newsvendor product to a dominant retailer, who does not know the manufacturers unit production cost k. The expected retail demand is a function of the unit retail price p. For this increasingly prevalent but rarely analyzed scenario, we compare the performance of several promising contract formats, including two new contract formats designed explicitly for a dominant retailer to implement, namely: (i) a retailer-implemented two-part tariffs where the retailer charges an upfront lump sum fee besides a fixed percentage markup over any given unit wholesale price, and (ii) a retailer-implemented volume discount scheme. We show that these two new formats perform substantially better than the currently-used practical formats. Thus, they form a basis for a dominant retailer to design a practical and effective purchase contract that approaches the power of the theoretically-optimal but impractical menu of contracts. © 2012 Elsevier B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/166796
ISSN
2015 Impact Factor: 2.782
2015 SCImago Journal Rankings: 2.749
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorWang, JCen_HK
dc.contributor.authorLau, AHLen_HK
dc.contributor.authorLau, HSen_HK
dc.date.accessioned2012-09-20T08:48:29Z-
dc.date.available2012-09-20T08:48:29Z-
dc.date.issued2012en_HK
dc.identifier.citationInternational Journal Of Production Economics, 2012, v. 138 n. 1, p. 46-54en_HK
dc.identifier.issn0925-5273en_HK
dc.identifier.urihttp://hdl.handle.net/10722/166796-
dc.description.abstractA manufacturer supplies a newsvendor product to a dominant retailer, who does not know the manufacturers unit production cost k. The expected retail demand is a function of the unit retail price p. For this increasingly prevalent but rarely analyzed scenario, we compare the performance of several promising contract formats, including two new contract formats designed explicitly for a dominant retailer to implement, namely: (i) a retailer-implemented two-part tariffs where the retailer charges an upfront lump sum fee besides a fixed percentage markup over any given unit wholesale price, and (ii) a retailer-implemented volume discount scheme. We show that these two new formats perform substantially better than the currently-used practical formats. Thus, they form a basis for a dominant retailer to design a practical and effective purchase contract that approaches the power of the theoretically-optimal but impractical menu of contracts. © 2012 Elsevier B.V. All rights reserved.en_HK
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijpeen_HK
dc.relation.ispartofInternational Journal of Production Economicsen_HK
dc.subjectDominant retaileren_HK
dc.subjectNewsvendor producten_HK
dc.subjectPricingen_HK
dc.subjectSupply chain contractsen_HK
dc.titlePractical and effective contracts for the dominant retailer of a newsvendor product with price-sensitive demanden_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0925-5273&volume=138 &issue=1&spage=46&epage=54&date=2012&atitle=Practical+and+Effective+Contracts+for+the+Dominant+Retailer+of+a+Newsvendor+Product+with+Price-Sensitive+Demanden_US
dc.identifier.emailWang, JC: wangjc@business.hku.hken_HK
dc.identifier.emailLau, AHL: ahlau@business.hku.hken_HK
dc.identifier.authorityWang, JC=rp01107en_HK
dc.identifier.authorityLau, AHL=rp01072en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.ijpe.2011.12.019en_HK
dc.identifier.scopuseid_2-s2.0-84862809483en_HK
dc.identifier.hkuros209955en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-84862809483&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume138en_HK
dc.identifier.issue1en_HK
dc.identifier.spage46en_HK
dc.identifier.epage54en_HK
dc.identifier.isiWOS:000304218100005-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridWang, JC=15838282400en_HK
dc.identifier.scopusauthoridLau, AHL=7202626080en_HK
dc.identifier.scopusauthoridLau, HS=7201497264en_HK
dc.identifier.citeulike10165464-

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