Pricing and ordering policies for price-dependent demand in a supply chain of a single retailer and a single manufacturer

Jungkyu Kim · Yushin Hong · Taebok Kim

29 citations0/0 files storedInternational Journal of Systems Science

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Supply Chain and Inventory Management Consumer Market Behavior and Pricing Sustainable Supply Chain Management

Abstract

This article discusses joint pricing and ordering policies for price-dependent demand in a supply chain consisting of a single retailer and a single manufacturer. The retailer places orders for products according to an EOQ policy and the manufacturer produces them on a lot-for-lot basis. Four mechanisms with differing levels of coordination are presented. Mathematical models are formulated and solution procedures are developed to determine the optimal retail prices and order quantities. Through extensive numerical experiments, we analyse and compare the behaviours and characteristics of the proposed mechanisms, and find that enhancing the level of coordination has important benefits for the supply chain.

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1995Channel Coordination and Quantity Discounts 2001Coordination Mechanisms for a Distribution System with One Supplier and Multiple Retailers 2002A supply chain model of vendor managed inventory 2005Supply chain integration in vendor-managed inventory 2003A joint approach for setting unit price and the length of the credit period for a seller when end demand is price sensitive 2005Joint pricing and ordering policy for a deteriorating inventory with partial backlogging 2003Discount pricing decisions in distribution channels with price-sensitive demand 2002Supplier- and buyer-driven channels in a two-stage supply chain

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2015Manufacturer-retailer inventory model for deteriorating items with price-sensitive credit-linked demand under two-level trade credit financing and profit sharing contract 2020Technical Note: A Joint Pricing, Supplier Selection, and Inventory Replenishment Model Using the Logit Demand Function*

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