The effect of advertising on the distribution-free newsboy problem

Advertising is very important for the newsboy problem because the shelf-life of the newsboy product is short and advertising may increase sales to avoid overstocking. In this paper, models to study the effect of advertising are developed for the distribution-free newsboy problem where only the mean and variance of the demand are known. As in Khouja and Robbins (2003), it is assumed that the mean demand is an increasing and concave function of advertising expenditure. Three cases are considered: (1) demand has constant variance, (2) demand has constant coefficient of variation, and (3) demand has an increasing coefficient of variation. This paper provides closed-form solutions or steps to solve the problem. Numerical results of the model are also compared with those from other papers. The effects of model parameters on optimal expenditure on advertising, optimal order quantity, and the lower bound on expected profit are derived or discussed.     

A binary solution method for the multi-product newsboy problem with budget constraint

Multi-product newsboy problem (MPNP) with budget constraint is a classical inventory control/management problem. However, solution methods for MPNP under general demand distributions are limited in the current literature. In this paper, by analyzing properties of the optimal solution to the MPNP with a budget constraint, we develop a solution algorithm for the constrained MPNP. The proposed algorithm is binary in nature, and is applicable to general types of demand distribution functions, discrete as well as continuous. For continuous demand distribution function, our approach can obtain the optimal or near optimal solution to the constrained MPNP with polynomial computation complexity of the o(n) order. On the other hand, for discrete demand distribution functions, it can effectively provide good approximate solution. Numerical experiments are presented to show the performance of our method.     

The distribution-free newsboy problem: Extensions to the shortage penalty case

In the classical newsboy problem, no cost is assumed if the ordered quantity is less than the demand. However, in reality failure to meet demand is always associated with a penalty. The aim of this work is to extend the analysis of the distribution-free newsboy problem to the case when shortage cost is taken into consideration. The analysis is based on the assumption that only the mean and variance of demand are known, but its particular probability distribution is not. A model is presented for determining both an optimal order quantity and a lower bound on the profit under the worst possible distribution of the demand. The following cases are considered: the single product case, the fixed ordering cost case, the random yield case, and the resource-constrained multi-product case.     

On the anti-competitive effects of quantity discounts

We analyze the competitive effects of quantity discounts in an asymmetric duopoly. We find that for a sizeable set of parameter values, quantity discounts harm the smaller firm and reduce consumers' surplus. They can even decrease social welfare, i.e. the sum of producers' and consumers' surpluses. However, the circumstances in which quantity discounts may decrease social welfare are limited and difficult to identify in practice.     

Asymmetry in capacity and the adoption of all-units discounts

In many abuse of dominance antitrust cases, the dominant firm adopts pricing schemes involving all-units discounts, whereas its smaller competitors often use simple linear pricing. We provide a game-theoretic justification for the observed asymmetry in pricing practices by studying a model in which a firm with full capacity faces a capacity-constrained rival. The asymmetry in capacity between the firms, which gives rise to the captive market, allows the dominant firm to take advantage of the quantity commitment through all-units discounts while the capacity-constrained rival is induced to offer simple linear pricing.     

A multi-item fuzzy economic production quantity problem with a finite production rate

Inventory Management and production planning are essential tasks for every company in the industry. Therefore, the development of a large set of Economic Order Quantity (EOQ) models is needed. In this paper, a fuzzy multi-item Economic Production Quantity (EPQ) model is developed. This paper contributes to the state-of-the-art with a theoretical study of a problem, where a company has to decide the size of some production batches under uncertain cycle times. The uncertainty will be handled with triangular fuzzy numbers and an analytical solution will be found to the optimization problem.     

A multi-item supply chain with credit periods and weight freight cost discounts

It is possible to realize considerable savings by aggregating the replenishment of a variety of items in a multi-item supply chain. This joint multi-item replenishment policy has already been widely applied in a variety of industries. This type of policy may make it possible for the retailer to take advantage of transport economies of scale by the utilization of freight discounts for greater weight. In addition, a supplier will often extend forward financing to a retailer. In this paper, a multi-item supply chain with a credit period and weight freight cost discounts is considered. The retailer bears the freight costs, but the freight carrier provides freight-transport discounts that are positively related to the weight of the cargo transported. From both the individual and the channel perspectives, we deal with the dual problems of determining the ideal supplier credit period, and of the best way for the retailer to make multi-item replenishment and pricing decisions, while still maximizing profits. We outline the optimal properties and develop algorithms for solving the problems described, as well as discuss the impact of the freight cost discounts, the inventory holding cost, and the interest rate on the behavior of both parties.     

Streamlining inventory flows with time discounts to improve the profits of a decentralized supply chain

We consider a decentralized supply chain, whereby a supplier sells a product to a group of independent buyers, and develop a strategy for the supplier to offer an all-units price discount or cash rebate for orders that are synchronized with its replenishments. As synchronized orders can be met with inventory directly from receiving to shipping without warehousing, the proposed strategy streamlines system inventory flows to minimize inventory and, hence, the related costs. On the other hand, by increasing the replenishment interval of the supplier, the proposed strategy is able to induce buyers to order in large quantities and hence achieve the objectives of quantity discounts. We show that the proposed strategy can achieve nearly optimal (minimum) system cost, and is much more effective than the existing coordination strategies for decentralized supply chains in the literature.     

The fuzzy front end of Japanese new product development projects: impact on success and differences between incremental and radical projects

This study of Japanese New Product Development (NPD) projects explores the fuzzy front end of innovation. The goal of the paper is twofold: First, we analyse the impact of the fuzzy front end on the success of all the NPD projects. We develop a conceptual model based on the information-processing approach. A structural equation model was fitted to data from 497 NPD projects in Japanese manufacturing firms to test the proposed model. The empirical analysis suggests that an early reduction of market and technical uncertainty as well as an initial planning before development have a positive impact on NPD project success. The model accounts for 17% of the variance of the efficiency and 24% of the variance of the effectiveness-dependent variable. Thus, the front end phase is an important driver of NPD project success. Second, we compare the fuzzy front end of incremental to radical NPD projects. Although these projects differ in many aspects of newness, we found only a few differences with regard to the fuzzy front end. For instance, it was more difficult to estimate the market size and price sensitivity of the customers during the fuzzy front end of the radical NPD projects compared with the incremental projects. Implications of the empirical results and limitations of the study are discussed.     

Game theoretical perspectives on dual-channel supply chain competition with price discounts and pricing schemes

This paper evaluates the impact of price discount contracts and pricing schemes on the dual-channel supply chain competition. Channel conflict occurs when the supplier enters the online direct channel. Traditional contracts normally require tedious administrational participation, full information of the cost structures, and other factors. The introduction of simple price discount contracts aims at providing easy implementation and effective coordination results. From supplier Stackelberg, retailer Stackelberg, and Nash game theoretic perspectives, we show that the scenarios with price discount contracts can outperform the non-contract scenarios. In addition, we show consistent pricing scheme can reduce the channel conflict by inducing more profit to the retailer. The leader in the games might, but is not guaranteed to, have advantages.     

Matching students' technological thinking with the demands of a technological curriculum

The ability to think in the technology subject area has been analysed for a sample of 50 pupils in the 11–16 age range in a U.K. comprehensive school. It is suggested on the basis of the research that three factors are identified: function/structure, general intelligence and perceptual (visual) analysis. Developmental analysis suggests that changes with age occur in the first of these, with thinking moving from identification of function towards identification of structure. The mismatch between the development of technological thinking and teaching curricula is noted.     

江苏企事业职工报酬需求调查分析

由于薪酬在吸引、保持和激励员工等方面有极其重要的作用,所以薪酬管理也成为企业人力资源管理的重要内容之一。好的薪酬管理模式能够为企业吸引源源不断的人才,并且提高员工工作的积极性和创造力,使企业保持源源不断的活力。因此,企事业单位的管理人员必须充分认识到薪酬管理对企业发展的重要影响,进行有效的薪酬管理模式设计,以推动企业目标的实现。从性别和文化程度两方面的不同进行了分析。     

Product selection for newsboy-type products with normal demands and unequal costs

In this paper, we consider two newsboy-type products with unequal prices and costs. Both demands are independent and follow normal distributions with unknown parameters μ and σ. We study the product selection problem which deals with comparing two products and selecting the one that has a significantly higher profitability, in which the profitability is defined to the probability of achieving a target profit under the optimal ordering policy. The statistical hypothesis testing methodology is performed to tackle this selection problem. Critical value of the test is calculated to determine the selection decision. Sample size required for a designated power and confidence level is also investigated. An application example on comparing English-teaching magazines is presented to illustrate the practicality of our approach.     

Exploring the incremental merger value from multimarket and technology arguments

We address the question through which channels mergers create incremental value to merging firms and consider various product market and technological arguments. Based on the pairwise stable allocation concept, we estimate firms’ pair-specific (incremental) merger value functions. Our results show that technological arguments contribute to the majority of added merger value. We also find that market power arguments across multiple markets contribute to explaining incremental post-merger value. In contrast, multimarket strategic effects do not add merger value. Our estimated match values are aligned with the merging firms’ post-merger stock market performance.     

中国煤炭成本核算框架现状及存在问题分析

通过描述我国煤炭成本核算框架现状,指出现行煤炭成本核算框架存在的煤炭成本总体水平低、煤炭成本反映不完全、煤炭职工收入水平低等六个方面不足,并在此基础上提出政策性建议,以期完善我国煤炭成本核算体系。     

工程投标中串标问题的分析

随着我国建筑招标投标市场的完善和规范化,大多数的违规行为已得到了有效的控制,但串标行为却有愈演愈烈的趋势,严重影响了建筑市场的公平竞争,阻碍了我国建筑行业的顺利发展。文章从招标者的角度分别对串标人及陪标人的期望收益进行经济分析,得到投标人串标的根本原因在于制度的缺陷及招标人对串标者的处罚费过少,并指出治理串标行为的主要措施是提高串标成本、增大串标查处概率,以及加大串标处罚力度等。     

模糊网络总工期隶属函数及路径关键度分析

为了求取模糊网络总工期隶属函数和路径关键度,以模糊扩展定理和模糊截集概念为基础,通过求取所有活动的模糊截集,将模糊网络转变为一系列不同α截集下的区间网络。根据模糊扩展定理可知,这些区间网络的工期范围即为模糊网络总工期的α截集,由此可以构建出模糊网络总工期隶属函数。依据Chanas提出的模糊网络路径关键度定义,利用区间网络关键路径与模糊网络关键度的关系,计算出所有路径的关键度。列举了一个活动持续时间为LR型模糊数的模糊网络总工期隶属函数和路径关键度运算实例。     

模糊解耦控制器设计及应用

针对串联解耦控制鲁棒性较差的问题,提出了模糊解耦控制方案,并将此方法应用于青霉素结晶过程的控制中,仿真结果表明该方案简单、易行,鲁棒性得到了提高。     

Navigating the demands of increasing customer participation through firm and individual job resources

Many firms are increasing the amount of customer participation required in B2B sales in efforts to improve firm performance. Unfortunately, little is known regarding how increasing customer participation expectations effects the firm's salespeople. To address this issue, using the job demands-resources model, this study examines how increases in customer participation influence salesperson burnout and salesperson investment in resources, while accounting for the job resources of job autonomy and belief in innate selling ability. The potential moderating effects of competitive intensity are also captured. The findings, based upon a survey of 210 B2B salespeople, indicate that increasing customer participation does not increase salesperson burnout, but increases investments in resources aimed to increase salesperson professional development. Further, greater job autonomy was found to decrease salesperson burnout and increase investment in resources, with the latter being moderated by competitive intensity. Belief in innate selling ability, in contrast, was found to increase burnout and decrease investment in resources by salespeople, with the latter being moderated by competitive intensity. This study highlights the multiple positive and negative effects of increasing customer participation in B2B selling, providing new insights for how firms can set policies to enhance salesperson well-being and effectiveness in a B2B setting.     

Considering stochastic lead times in a manufacturing/remanufacturing system with deterministic demands and returns

In this paper we study a manufacturing/remanufacturing system with stochastic lead times and a constant demand. We base our approach on previous research in which we have developed models to describe an inventory system with stochastic lead times. In this paper, we first adopt this method to manufacturing/remanufacturing situations, where there are essentially two supply sources for replenishing serviceable inventory. We then provide a solution procedure when a cycle ordering policy is used. Secondly, we investigate the possibility to use a dual sourcing ordering policy in which each order is split between a manufacturing and a remanufacturing process. Finally, we compare the two ordering policies and illustrate how the lead-time patterns influence the economic consequences.