Inventory Management with Alternative Delivery Times
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Beschreibung
This book develops a modeling framework to analyze the problem of inventory management with alternative delivery times. The general context considered here is that a seller replenishes its inventory in fixed intervals and, between replenishments, allocates the limited inventory to satisfy customers who are both price and delivery-time sensitive. On the demand side, customers have heterogeneous delivery-time requirements and choose either spot or late delivery. This theoretical modeling captures the essence of real-world business practices such as the delivery time market segmentation strategy adopted by automobile dealerships in China and many other similar examples. The book focuses on the seller’s optimal inventory replenishment and demand fulfillment policies, and our results provide managerial insights into the merits of flexible delivery-time options. Similar applications such as the group-buying mechanism are also examined. The main mathematical tool used in theoretical analysisis dynamic programming. This book is written for students, researchers, and practitioners in the areas of operations management and industrial engineering who are interested in understanding the rationale of flexible delivery times and designing successful applications.
This book develops a modeling framework to analyze the problem of inventory management with alternative delivery times. The general context considered here is that a seller replenishes its inventory in fixed intervals and, between replenishments, allocates the limited inventory to satisfy customers who are both price and delivery-time sensitive. On the demand side, customers have heterogeneous delivery-time requirements and choose either spot or late delivery. This theoretical modeling captures the essence of real-world business practices such as the delivery time market segmentation strategy adopted by automobile dealerships in China and many other similar examples. The book focuses on the seller’s optimal inventory replenishment and demand fulfillment policies, and our results provide managerial insights into the merits of flexible delivery-time options. Similar applications such as the group-buying mechanism are also examined. The main mathematical tool used in theoretical analysis is dynamic programming. This book is written for students, researchers, and practitioners in the areas of operations management and industrial engineering who are interested in understanding the rationale of flexible delivery times and designing successful applications.
Provides a framework for the study of inventory models in which customers have heterogeneous price and delivery-time requirements and derive the optimal inventory management policy for firms to respond to incoming customer demand in real- time and determine the inventory replenishment quantities accordingly Draws upon real-world practices of automobile dealerships to shed light on how firms should employ delivery-time-based market segmentation strategy to improve their inventory utilization and achieve profit maximization Investigates extensions to the basic model such as different fulfilment-priority strategies and applications to problems of similar nature such as the group-buying mechanism Includes supplementary material: sn.pub/extras
Autor*in
Xiaoying Liang
Themen in »Inventory Management with Alternative Delivery Times«
Alternative Delivery Options Delivery-time Options Dynamic Pricing Inventory Management Inventory Rationing Joint Inventory Control Supply Chain Management Engineering Economics