Dynamic supply chain coordination under consignment and vendor-managed inventory in retailer-centric B2B electronic markets |
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Authors: | Liang-Tu Chen |
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Institution: | Department of Commerce Automation and Management, National Pingtung Institute of Commerce, 51, Minsheng E. Rd, Pingtung 900, Taiwan |
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Abstract: | This study examines the dynamic performance of vertically decentralized two-echelon channel coordination for deteriorating goods under consignment and vendor-managed inventory (VMI) contracts with revenue sharing from retailer-centric business-to-business transactions in both traditional markets and electronic markets (EMs). The research presents the profit-maximization problem and devises a method for making cross-enterprise dynamic joint decisions by combining calculus with dynamic programming for a retailer-led Stackelberg supply chain under cooperative and non-cooperative game settings over a multi-period planning horizon. The applicability of the proposed model is assessed using a case study involving a highly perishable product, sliced raw fish, in a supply chain comprising a regional seafood supplier and a local store belonging to a large national retail chain. The analytical results show that, in a cooperative setting, the EM with a consigned revenue-sharing VMI contract tends to achieve lower retail prices, larger stock quantity, improved channel efficiency, and increases in both retailer and supplier profits through an additional one-part tariff. Additionally, consumers benefit from lower retail prices and society benefits from increased overall channel profits in the cooperative channel and EM. |
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Keywords: | Electronic markets Channel coordination Consignment Vendor-managed inventory Game theory |
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