The Newsvendor Problem with Different Delivery Time, Resalable Returns, and an Additional Order
Joint Authors
Zheng, Jin-hui
Zeng, Fue
Chi, Yunjia
Source
Mathematical Problems in Engineering
Issue
Vol. 2015, Issue 2015 (31 Dec. 2015), pp.1-10, 10 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2015-01-26
Country of Publication
Egypt
No. of Pages
10
Main Subjects
Abstract EN
In a B2C scenario, the retailer is confronted with two kinds of demand.
One requires an immediate delivery after placing an order, while the other prefers a delayed shipment due to some personal reasons.
Considering demands for different delivery time, we explore a newsvendor model with resalable returns and an additional order to optimize the procurement decision under a stochastic demand distribution.
The impact of the proportion of the instant delivery needs and the return rate on the order quantity and the expected profit is illustrated through numerical tests.
It is shown that the expected profit decreases as the ratios of immediate delivery needs and returned products increase.
Besides, if the sum of the percentage of the instant delivery needs and the return rate is less than 1, the expected profit is always greater than the result if the sum of them is equal to or greater than 1.
Management implications are also discussed.
American Psychological Association (APA)
Zeng, Fue& Chi, Yunjia& Zheng, Jin-hui. 2015. The Newsvendor Problem with Different Delivery Time, Resalable Returns, and an Additional Order. Mathematical Problems in Engineering،Vol. 2015, no. 2015, pp.1-10.
https://search.emarefa.net/detail/BIM-1073997
Modern Language Association (MLA)
Zeng, Fue…[et al.]. The Newsvendor Problem with Different Delivery Time, Resalable Returns, and an Additional Order. Mathematical Problems in Engineering No. 2015 (2015), pp.1-10.
https://search.emarefa.net/detail/BIM-1073997
American Medical Association (AMA)
Zeng, Fue& Chi, Yunjia& Zheng, Jin-hui. The Newsvendor Problem with Different Delivery Time, Resalable Returns, and an Additional Order. Mathematical Problems in Engineering. 2015. Vol. 2015, no. 2015, pp.1-10.
https://search.emarefa.net/detail/BIM-1073997
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1073997