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A quantity-flexibility contract with coordination
Li,Xin1; Lian,Zhaotong2; Choong,Kwee Keong2; Liu,Xiaoming2
2016-09-01
Source PublicationInternational Journal of Production Economics
ISSN09255273
Volume179Pages:273-284
AbstractMotivated by the unique pricing and the contractual structure between a manufacturer and its retailers, and the uncharacteristic manner in the commercialization of newly developed products in the cosmetic industry, this paper studies a quantity-flexibility (QF) contract between a cosmetic manufacturer and a retailer with supply-chain coordination (SCC). By this QF and SCC arrangement, the retailer commits an amount of quantity of newly-developed products, and in return the manufacturer allows the retailer to adjust the order quantities of the commitment quantities based on the inventory balance status and the likely customer demand. We envisage that with this arrangement, both parties can attain maximum profit under the concept of the synergy effect. By developing a two-period dynamic model, we obtain an optimal replenishment strategy for the retailer and the optimal pricing scheme for the manufacturer. By comparing it between models with and without the SCC or quantity adjustment (QA), the numerical analysis and our case application support our theoretical model assertion that the synergy of attaining global (channel) optimal profit for both the manufacturer and the retailer is feasible. The results also show that the advantages of the QF contract with the SCC is very significant.
KeywordDynamic programming Quantity flexibility Supply chain coordination
DOI10.1016/j.ijpe.2016.06.016
URLView the original
Language英语
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被引频次[WOS]:11   [WOS记录]     [WOS相关记录]
Document TypeJournal article
专题University of Macau
Corresponding AuthorLian,Zhaotong
Affiliation1.School of Business,Macau University of Science and Technology,,Macao
2.Faculty of Business Administration,University of Macau,,Macao
Corresponding Author AffilicationFaculty of Business Administration
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Li,Xin,Lian,Zhaotong,Choong,Kwee Keong,et al. A quantity-flexibility contract with coordination[J]. International Journal of Production Economics,2016,179:273-284.
APA Li,Xin,Lian,Zhaotong,Choong,Kwee Keong,&Liu,Xiaoming.(2016).A quantity-flexibility contract with coordination.International Journal of Production Economics,179,273-284.
MLA Li,Xin,et al."A quantity-flexibility contract with coordination".International Journal of Production Economics 179(2016):273-284.
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