Optimal pricing and ordering policies with different patience levels of consumers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yuewu Tang ◽  
Yang Song ◽  
Chang Xu ◽  
Tijun Fan
Keyword(s):  
Continuous Distribution ◽  
Decision Time ◽  
Reserve Price ◽  
Optimal Price ◽  
Content Type ◽  
Strategic Consumers ◽  
Transaction Data ◽  
Ordering Policies ◽  
And Cluster Analysis ◽  
Different Levels

PurposeUsing information systems via data mining and cluster analysis technologies, consumers' strategic behaviour can be measured, and their patience levels can be accurately described. This paper investigates the retailer's pricing and ordering policies when facing strategic consumers with different levels of patience and discusses the impacts of consumers' patience levels and proportions on retailers' maximum expected profits.Design/methodology/approachBy cluster analysing transaction data on the number of websites visited, browsing time and purchase decision time, consumers' patience levels can be obtained. The authors formulate a newsvendor model considering customers' different patience levels. Three scenarios are investigated: two segments of consumers with two different levels of patience (Scenario I), multiple segments of consumers with different levels of patience (Scenario II) and a continuum of consumers whose levels of patience follow a continuous distribution (Scenario III). Then, general formulas are deduced for retailers' optimal prices, ordering quantities and profits.FindingsUnder Scenario I, if the proportion of less patient consumers is greater (less) than a threshold, the retailer's optimal price is equal to the less (more) patient consumers' reserve price. Under Scenario II, once the proportion of fully strategic consumers exceeds a certain threshold, the retailers' optimal price is equal to the fully strategic consumers' reserve price regardless of consumers' patience levels and proportions. Under Scenario III, the retailer's pricing and ordering policies depend on the distribution of their patience level.Originality/valueFew studies have considered consumers' different levels of patience when making retailer pricing and ordering decisions. In this paper, strategic consumer behaviour is measured, and consumers' patience levels and proportions are obtained by cluster analysing consumer transaction data recorded by an information system. Three scenarios in which strategic consumers may be heterogeneous and have different patience levels are investigated. The results can guide retailer decision-making.

Price protection policies with demand uncertainty and strategic consumers

2017 ◽  
Vol 12 (2) ◽  
pp. 190-203 ◽  
Author(s):  
Tingting Wang ◽  
Chuiri Zhou
Keyword(s):  
Consumer Behavior ◽  
Rational Expectations ◽  
Demand Uncertainty ◽  
Positive Influence ◽  
Negative Effects ◽  
Optimal Price ◽  
Content Type ◽  
Strategic Consumers ◽  
Protection Policy ◽  
Optimal Decisions

Purpose This paper aims to study a retailer’s decision on the price and inventory when facing strategic consumer behavior and demand uncertainty. Price protection is a kind of rebate that the retailer provides to consumers when the price drops during the selling season. The research investigates whether price protection can bring the retailer advantages. This paper compares price protection’s impact with price commitment. In addition, the paper studies the price protection’s impacts on supplier of the supply chain. Design/methodology/approach In this model, there are three alternative strategies for retailer: no price protection policy, full price protection policy and partial price protection policy. The selling season is divided into two periods: regular period and sale period. In the regular period, the products are sold at a regular price. In the sale one, the products are sold at a lower price. By adopting rational expectations equilibrium, this paper analyzes retailer’s optimal price and order quantity under each policy and compares optimal decisions and maximum profits of three policies. Findings This paper finds that the price protection has a positive influence on the retailer. Strategic consumers are induced to purchase at the regular period. It can simultaneously increase retailer’s profit and reduce inventory risk. Meantime, full price protection is chosen as the optimal policy. By comparing full price protection’s impacts with price commitment, full price protection is considered as the most profitable strategy, while price commitment can bring lower inventory risk. In addition, the profit of supplier would decrease because of price protection. Originality/value This research provides a new method to address the negative effects of strategic consumer behavior. It also brings some managerial insights to some retailers, especially online ones, on whether to adopt price protection.

Service decision-making processes at three New York state cooperative public library systems

2014 ◽  
Vol 35 (6/7) ◽  
pp. 418-432
Author(s):  
Xiaoai Ren
Keyword(s):  
Decision Making ◽  
New York ◽  
New York State ◽  
Public Library ◽  
Organizational Structures ◽  
Annual Reports ◽  
Content Type ◽  
York State ◽  
Decision Making Processes ◽  
And Cluster Analysis

Purpose – The purpose of this paper is to look at the organizational structure and service provisions of cooperative public library systems in New York State. The study also seeks to ask questions of how cooperative public library systems decide what services to provide. Design/methodology/approach – Descriptive statistics, factor analysis and cluster analysis were applied on New York State public library systems’ 2008 annual reports to generate quantitative profiles of public library systems and their service transactions. Three cooperative public library systems displaying different service features were purposefully selected for further study of their service decision-making processes. The face-to-face and phone interviews were adopted in the study. Findings – Research findings from this study provide information on specific service variations across cooperative public library systems. The findings also provide differences of service decision-making processes in addition to the factors that might cause these differences. Originality/value – This study adds knowledge of public library systems’ management and organizational structures, therefore fills a knowledge gap on public library systems. It can also serve as the baseline for future studies using newer annual report data and therefore to study the changing roles and services of cooperative public library systems in New York State.

The distributive knot: negotiators’ responsibility to untie complex demands

2017 ◽  
Vol 32 (4) ◽  
pp. 535-540 ◽  
Author(s):  
Alain Lempereur ◽  
Michele Pekar
Keyword(s):  
Demand Response ◽  
Automotive Industry ◽  
Design Methodology ◽  
Analytical Framework ◽  
Content Type ◽  
Business System ◽  
Response Dynamic ◽  
Managerial System ◽  
Deal Making ◽  
Different Levels

Purpose This article aims to explore the fundamental negotiation structure as a demand/response dynamic. It tests it in a complex business system, where a manager as a negotiator is confronted with multiple demands or pressures at different levels from a variety of stakeholders, both external and internal. Design/methodology/approach Based on concrete examples from the automotive industry, it presents an analytical framework to tackle all negotiation interactions. Findings This article suggests that it is possible to describe all negotiation interactions, whether they are simple or complex, through a demand/response framework. Originality/value This contribution examines a fundamental structure for negotiation responsibility – the demand/response dynamic – defining the mission of any negotiator in deal-making or dispute resolution as to try to supply a response to the expressed crossed demands. Second, the proposed theoretical model of demand/response is transposed and tested in a managerial system where a sales negotiator is confronted with demands from more sources, both external and internal, with the responsibility to satisfy as best as possible the various stakeholders and the capacity to address each of them with different moves.

Accessing offshoring advantages: what and how to offshore

2015 ◽  
Vol 8 (2/3) ◽  
pp. 262-283 ◽  
Author(s):  
Alona Mykhaylenko ◽  
Ágnes Motika ◽  
Brian Vejrum Waehrens ◽  
Dmitrij Slepniov
Keyword(s):  
Performance Outcomes ◽  
Offshore Outsourcing ◽  
Strategic Decisions ◽  
Content Type ◽  
Different Types ◽  
Captive Offshoring ◽  
Performance Results ◽  
Governance Modes ◽  
Different Levels ◽  
Do So

Purpose – The purpose of this paper is to advance the understanding of factors that affect offshoring performance results. To do so, this paper focuses on the access to location-specific advantages, rather than solely on the properties of the offshoring company, its strategy or environment. Assuming that different levels of synergy may exist between particular offshoring strategic decisions (choosing offshore outsourcing or captive offshoring and the type of function) and different offshoring advantages, this work advocates that the actual fact of realization of certain offshoring advantages (getting or not getting access to them) is a more reliable predictor of offshoring success. Design/methodology/approach – A set of hypotheses derived from the extant literature is tested on the data from a quantitative survey of 1,143 Scandinavian firms. Findings – The paper demonstrates that different governance modes and types of offshored function indeed provide different levels of access to different types of location-specific offshoring advantages. This difference may help to explain the ambiguity of offshoring initiatives performance results. Research limitations/implications – Limitations of the work include using only the offshoring strategy elements and only their limited variety as factors potentially influencing access to offshoring advantages. Also, the findings are limited to Scandinavian companies. Originality/value – The paper introduces a new concept of access, which can help to more reliably predict performance outcomes of offshoring initiatives. Recommendations are also provided to practitioners dealing with offshoring initiatives.

Is this mine? Psychological ownership and the social media follower

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Caroline S.L. Tan
Keyword(s):  
Social Media ◽  
Design Methodology ◽  
Vital Role ◽  
Psychological Ownership ◽  
Structured Interviews ◽  
Content Type ◽  
Face To Face ◽  
The Social ◽  
Social Currency ◽  
Different Levels

Purpose The purpose of this study is to examine psychological ownership (PO) experienced by followers of social media influencers toward both influencer and the product. Design/methodology/approach Data were collected using face-to-face semi-structured interviews that were conducted with 30 respondents and analyzed using thematic analysis. Findings The study demonstrated that the PO experienced by the follower changes under different conditions resulting from perceived value, social currency and follower activity. Social currency plays a vital role in determining the target of PO, often affecting the narrative by the follower. Originality/value To the best of the author’s knowledge, this is the first paper to examine the transference of PO between product and influencer as experienced by the follower. It provides an understanding on PO that is experienced in different levels of intensity and changes depending on the motive of the follower; hence, transference of PO occurs and it is not a static.

The effect of supplier development initiatives on purchasing performance: a structural model

2005 ◽  
Vol 10 (4) ◽  
pp. 289-301 ◽  
Author(s):  
Cristóbal Sánchez‐Rodríguez ◽  
David Hemsworth ◽  
Ángel R. Martínez‐Lorente
Keyword(s):  
Supply Chain ◽  
Structural Equation ◽  
Manufacturing Industry ◽  
Structural Model ◽  
Essential Element ◽  
Equation Modeling ◽  
Supplier Development ◽  
Manufacturing Companies ◽  
Content Type ◽  
Different Levels

PurposeSupply chain management is an increasingly important organizational concern, and proper management of supplier relationships constitutes one essential element of supply chain success. However, there is little empirical research that has tested the effect of supplier development on performance. The main objective is to analyze the effect of supplier development practices with different levels of implementation complexity on the firm's purchasing performance.Design/methodology/approachThree supplier development constructs were defined: basic supplier development, moderate supplier development, and advanced supplier development. Three structural models were hypothesized and tested using structural equation modeling through field research on a sample of 306 manufacturing companies in Spain.FindingsIdentified important interrelationships among the various supplier development practices, basic, moderate, and advanced. Also indicated that the implementation of supplier development practices significantly contributes to the prediction of purchasing performance.Research limitations/implicationsThe use of a single key informant could be seen as a potential limitation of the study. The study was a cross‐sectional and descriptive sample of the manufacturing industry at a given point in time. A more stringent test of the relationships between the different levels of supplier development and performance requires a longitudinal study, or field experiment.Practical implicationsThis study focused on supplier development practices and revealed how involving suppliers in supplier development activities is important and may help buyers to increase their purchasing performance. The findings from the structural analysis should provide practicing managers with insights on how these practices and their benefits are related in terms of purchasing performance, thus affecting their ability to make better sourcing decisions.Originality/valueFills an important gap in the purchasing literature with respect to the area of supplier development. While there is much written about supplier development based on conceptual and case study research, this study is unique in that it is the first attempt to empirically model the relationships between different levels of supplier development and their impact on purchasing performance using a comprehensive set of practices.

A self-organized reciprocal control method for multi-robot simultaneous coverage and tracking

2018 ◽  
Vol 38 (5) ◽  
pp. 689-698 ◽  
Author(s):  
Runfeng Chen ◽  
Jie Li ◽  
Lincheng Shen
Keyword(s):  
Control Method ◽  
Task Assignment ◽  
Decision Time ◽  
Velocity Space ◽  
Deadweight Loss ◽  
Traffic Surveillance ◽  
Content Type ◽  
Optimal Velocity ◽  
Service Environment ◽  
Self Organized

Purpose Multi-robots simultaneously coverage and tracking (SCAT) is the problem of simultaneously covering area and tracking targets, which is essential for many applications, such as delivery service, environment monitor, traffic surveillance, crime monitor, anti-terrorist mission and so on. The purpose of this paper is to improve the performance of detected target quantity, coverage rate and less deadweight loss by designing a self-organized method for multi-robots SCAT. Design/methodology/approach A self-organized reciprocal control method is proposed, coupling task assignment, tracking and covering, equipped with collision-avoiding ability naturally. First, SCAT problem is directly modeled as optimal reciprocal coverage velocity (ORCV) in velocity space. Second, the preferred velocity is generated by calculating the best velocity to the center of some robot detected targets. ORCV is given by adjusting the velocity relative to neighbor robots’ toward in optimal coverage velocity (OCV); it is proven that OCV is collision-free assembly. Third, some corresponding algorithms are designed for finding optimal velocity under two situations, such as no detected targets and empty ORCV. Findings The simulation results of two cases for security robots show that the proposed method has detected more targets with less deadweight loss and decision time and no collisions anytime. Originality/value In this paper, a self-organized reciprocal control method is proposed for multi-robots SCAT problem, which is modeled in velocity space directly, different to the traditional method modeling in configuration space. What is more, this method considers the reciprocal of robots that contributes to the better accomplishment of SCAT cooperatively.

Sustainability assessment in the manufacturing industry: a review of recent studies

2018 ◽  
Vol 25 (8) ◽  
pp. 3162-3179 ◽  
Author(s):  
Shamraiz Ahmad ◽  
Kuan Yew Wong
Keyword(s):  
Manufacturing Industry ◽  
Sustainability Assessment ◽  
Manufacturing Sector ◽  
Social Indicators ◽  
Sustainable Manufacturing ◽  
Manufacturing Industries ◽  
Bottom Line ◽  
Content Type ◽  
The Status ◽  
Different Levels

Purpose The purpose of this paper is to review and analyze the recent sustainability assessment studies in the manufacturing industry from the triple-bottom-line (TBL) perspective. This paper aims to depict the status quo of practical sustainability assessment, summarize the different levels and boundaries of evaluation, and highlight the difficulties and further improvements needed to make the assessment more effective in the manufacturing industry. Design/methodology/approach Four keywords, namely, sustainability assessment, sustainable manufacturing, TBL and green production, were used to explore and find the relevant articles. First, this paper systematically reviewed the studies and analyzed the different levels and boundaries of sustainability assessment. Following this, the reviewed studies were critically discussed along with their merits and shortcomings. Findings The review showed that most of the sustainability assessment studies were conducted on product, company and process levels in the manufacturing industry. Nevertheless, there is still a need to focus more on plant and process level assessments to achieve the TBL objectives. Environmental assessment is comparatively matured in manufacturing industries. However, from the economic and social viewpoints, only cost analysis and workers’ safety, respectively, were considered in most of the studies. The economic and social indicators need to be more inclusive and should be validated and standardized for manufacturing industries. Originality/value Unlike previous sustainability assessment reviews in manufacturing industries which were mostly based on life cycle assessment, this paper has included environmental, social and economic aspects in one comprehensive review and focused on recent studies published from 2010 to 2017. This paper has explored the recent sustainability assessment trends and provided insights into the development of sustainability assessment in the manufacturing sector.

Median nerve compression caused by a venous aneurysm

2001 ◽  
Vol 94 (4) ◽  
pp. 624-626 ◽  
Author(s):  
Gerhard Marquardt ◽  
Soledad M. Barduzal Angles ◽  
Fouad D. Leheta ◽  
Volker Seifert
Keyword(s):  
Median Nerve ◽  
Rare Case ◽  
Venous Malformation ◽  
Correct Diagnosis ◽  
Nerve Compression ◽  
Venous Aneurysm ◽  
Complete Relief ◽  
Upper Arm ◽  
Content Type ◽  
Different Levels

✓ A rare case of peripheral-nerve compression in the upper arm caused by a spontaneous venous aneurysm is reported. The apparent dysfunction of the median nerve led to various vain surgical explorations of the nerve at different levels. The real localization of nerve entrapment was identified by a thorough clinical examination, and sonography yielded a correct diagnosis. Surgical resection of the venous aneurysm resulted in complete relief of pain. To the authors' knowledge, this is the first report of a spontaneous venous malformation in the upper arm causing focal neuropathy.

Study on properties of electromagnetic shielding yarns and fabrics

2020 ◽  
Vol 32 (5) ◽  
pp. 677-690
Author(s):  
Xinjin Liu ◽  
Xinxin Yan ◽  
Xuzhong Su ◽  
Juan Song
Keyword(s):  
Stainless Steel ◽  
Continuous Distribution ◽  
Noise Pollution ◽  
Short Fiber ◽  
Electromagnetic Shielding ◽  
Content Type ◽  
The Core ◽  
Spun Yarn ◽  
Spun Yarns ◽  
Shielding Properties

PurposeWith the popularization of electronic products, the electromagnetic radiation pollution has been the fourth largest pollution after water, air and noise pollution. Therefore, electromagnetic shielding property of textiles is attracting more attention. In this paper, the properties of electromagnetic shielding yarns and fabrics were studied.Design/methodology/approachTen kinds of yarn, stainless steel short fiber and polyester blend yarn with three different blending ratios T/S 90/10, T/S 80/20 and T/S 70/30, stainless steel short fiber, polyester and cotton blend yarn with blending ratio C/T/S 35/35/30, core-spun yarn with one 30 um stainless steel filament C/T28tex/S(30 um), core-spun yarn with two 15 um stainless steel filaments (C/T28tex/S(15 um)/S(15 um)), twin-core-spun yarn with one 30 um stainless steel filament and one 50D spandex filament C/T28tex/S(30 um)/SP(50D), sirofil wrapped yarn with one 30 um stainless steel filament feeding from left S(30 um)+C/T28tex, sirofil wrapped yarn with one 30 um stainless steel filament feeding from right C/T28tex+S(30 um), sirofil wrapped yarn with two 15 um stainless steel filaments feeding from two sides S(15 um)+C/T28tex+ S(15 um), were spun. The qualities of spun yarns were measured. Then, for analyzing the electromagnetic shielding properties of fabrics made of different spun yarns, 20 kinds of fabrics were woven.FindingsThe tested results show that comparing to the T/S 80/20 blend yarn, the resistivity of composite yarns with the same ratio of the stainless steel filament is smaller. The possible reason is that comparing to the stainless steel short fiber, the conductivity of stainless steel filament is better because of the continuous distribution of stainless steel in the filament. Comparing with the core-spun yarn, the conductivity of the sirofil wrapped yarn is a little better. Comparing to the fabric woven by the blend yarn, the electromagnetic shielding of the fabric woven by the composite yarn is better, and comparing to the fabric woven by the core-spun yarn, the electromagnetic shielding of the fabric woven by the sirofil yarn is a little better. The possible reason is that the conduction network can be produced by the stainless steel filament wrapped on the staple fiber yarn surface in the fabric, and the electromagnetic wave can be transmitted in the network.Originality/valueIn this paper, the properties of electromagnetic shielding yarns and fabrics were studied. Ten kinds of yarn, including three stainless steel short fiber and polyester blend yarns, one stainless steel short fiber, polyester and cotton blend yarn, two core-spun yarns, one twin-core-spun yarn, three sirofil wrapped yarn, were spun. Then, for analyzing the electromagnetic shielding properties of fabrics made of different spun yarns, 20 kinds of fabrics were woven. The effects of fabric warp and weft densities, fabric structures, yarn kinds, yarn distributions in the fabric on electromagnetic shielding were analyzed.

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