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Article: Leader–follower game in vendor-managed inventory system with limited production capacity considering wholesale and retail prices

TitleLeader–follower game in vendor-managed inventory system with limited production capacity considering wholesale and retail prices
Authors
Issue Date2006
PublisherTaylor & Francis Ltd. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/13675567.asp
Citation
International Journal of Logistics: Research and Applications, 2006, v. 9 n. 4, p. 335-350 How to Cite?
AbstractVendor-managed inventory (VMI) is a widely used co-operative inventory policy in supply chains in which each enterprise has its autonomy in pricing. In this paper, a leader–follower Stackelberg game in a VMI supply chain is discussed where the manufacturer, as a leader, produces a single product with a limited production capacity and delivers it at a wholesale price to multiple different retailers, as the followers, who then sell the product in dispersed and independent markets at retail prices. An algorithm is then developed to determine the equilibrium of the Stackelberg game. Finally, a numerical study is conducted to understand the influence of the Stackelberg equilibrium and market-related parameters on the profits of the manufacturer and its retailers. Through a numerical example, our research demonstrates that: (a) the market-related parameters have significant influence on the manufacturer's and its retailers' profits; (b) a retailer's profit may not necessarily be lowered when it is charged with a higher inventory cost by the manufacturer; and (c) the equilibrium of the Stackelberg equilibrium benefits the manufacturer.
Persistent Identifierhttp://hdl.handle.net/10722/74475
ISSN
2015 Impact Factor: 0.933
2015 SCImago Journal Rankings: 0.681

 

DC FieldValueLanguage
dc.contributor.authorYu, Yen_HK
dc.contributor.authorLiang, Len_HK
dc.contributor.authorHuang, GQen_HK
dc.date.accessioned2010-09-06T07:01:41Z-
dc.date.available2010-09-06T07:01:41Z-
dc.date.issued2006en_HK
dc.identifier.citationInternational Journal of Logistics: Research and Applications, 2006, v. 9 n. 4, p. 335-350en_HK
dc.identifier.issn1367-5567en_HK
dc.identifier.urihttp://hdl.handle.net/10722/74475-
dc.description.abstractVendor-managed inventory (VMI) is a widely used co-operative inventory policy in supply chains in which each enterprise has its autonomy in pricing. In this paper, a leader–follower Stackelberg game in a VMI supply chain is discussed where the manufacturer, as a leader, produces a single product with a limited production capacity and delivers it at a wholesale price to multiple different retailers, as the followers, who then sell the product in dispersed and independent markets at retail prices. An algorithm is then developed to determine the equilibrium of the Stackelberg game. Finally, a numerical study is conducted to understand the influence of the Stackelberg equilibrium and market-related parameters on the profits of the manufacturer and its retailers. Through a numerical example, our research demonstrates that: (a) the market-related parameters have significant influence on the manufacturer's and its retailers' profits; (b) a retailer's profit may not necessarily be lowered when it is charged with a higher inventory cost by the manufacturer; and (c) the equilibrium of the Stackelberg equilibrium benefits the manufacturer.-
dc.languageengen_HK
dc.publisherTaylor & Francis Ltd. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/13675567.aspen_HK
dc.relation.ispartofInternational Journal of Logistics: Research and Applicationsen_HK
dc.titleLeader–follower game in vendor-managed inventory system with limited production capacity considering wholesale and retail pricesen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1367-5567&volume=9/4&spage=335&epage=350&date=2006&atitle=Leader–follower+game+in+vendor-managed+inventory+system+with+limited+production+capacity+considering+wholesale+and+retail+pricesen_HK
dc.identifier.emailYu, Y: ygyums@ustc.eduen_HK
dc.identifier.emailHuang, GQ: gqhuang@hkucc.hku.hken_HK
dc.identifier.authorityHuang, GQ=rp00118en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1080/13675560600836910-
dc.identifier.hkuros126899en_HK

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