Dynamic Pricing in Cloud Manufacturing Systems under Combined Effects of Consumer Structure, Negotiation, and Demand

In this study, we proposed a game-theory based framework to model the dynamic pricing process in the cloud manufacturing (CMfg) system. We considered a service provider (SP), a broker agent (BA), and a dynamic service demander (SD) population that is composed of price takers and bargainers in this study. The pricing processes under linear demand and constant elasticity demand were modeled, respectively. The combined effects of SD population structure, negotiation, and demand forms on the SP’s and the BA’s equilibrium prices and expected revenues were examined. We found that the SP’s optimal wholesale price, the BA’s optimal reservation price, and posted price all increase with the proportion of price takers under linear demand but decrease with it under constant elasticity demand. We also found that the BA’s optimal reservation price increases with bargainers’ power no matter under what kind of demand. Through analyzing the participants’ revenues, we showed that a dynamic SD population with a high ratio of price takers would benefit the SP and the BA.

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Interoperability in Cloud Manufacturing and Practice on Private Cloud Structure for SMEs

Volume 3: Manufacturing Equipment and Systems ◽

10.1115/msec2017-3038 ◽

2017 ◽

Cited By ~ 1

Author(s):

Xi Vincent Wang ◽

Lihui Wang

Keyword(s):

Manufacturing Systems ◽

Manufacturing System ◽

Research Work ◽

Cloud Manufacturing ◽

Cloud Services ◽

Security Requirements ◽

Research Trend ◽

Safety Regulations ◽

Multiple Challenges ◽

New Research

In recent years, Cloud manufacturing has become a new research trend in manufacturing systems leading to the next generation of production paradigm. However, the interoperability issue still requires more research due to the heterogeneous environment caused by multiple Cloud services and applications developed in different platforms and languages. Therefore, this research aims to combat the interoperability issue in Cloud Manufacturing System. During implementation, the industrial users, especially Small- and Medium-sized Enterprises (SMEs), are normally short of budget for hardware and software investment due to financial stresses, but they are facing multiple challenges required by customers at the same time including security requirements, safety regulations. Therefore in this research work, the proposed Cloud manufacturing system is specifically tailored for SMEs.

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A Hybrid Similarity-Aware Clustering Approach in Cloud Manufacturing Systems

IE&EM 2019 ◽

10.1007/978-981-15-4530-6_11 ◽

2020 ◽

pp. 101-108

Author(s):

Jian Liu ◽

Youling Chen

Keyword(s):

Manufacturing Systems ◽

Cloud Manufacturing ◽

Clustering Approach

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Dynamic Game and Coordination Strategy of Multichannel Supply Chain Based on Brand Competition

Complexity ◽

10.1155/2019/4802360 ◽

2019 ◽

Vol 2019 ◽

pp. 1-26 ◽

Cited By ~ 1

Author(s):

Junhai Ma ◽

Fang Zhang ◽

Binshuo Bao

Keyword(s):

Supply Chain ◽

Dynamic Pricing ◽

Tracking System ◽

Wholesale Price ◽

Stable Region ◽

Selling Price ◽

Direct Channel ◽

Channel Competition ◽

Brand Competition ◽

Adjustment Speed

In is very important for the corresponding author to have a linked ORCID (Open Researcher and Contributor ID) account on MTS. To register a linked ORCID account, please go to the Account Update page (http://mts.hindawi.com/update/) in our Manuscript Tracking System and after you have logged in click on the ORCID link at the top of the page. This link will take you to the ORCID website where you will be able to create an account for yourself. Once you have done so, your new ORCID will be saved in our Manuscript Tracking System automatically.”"?>this paper, two noncooperative dynamic pricing strategies are used in a supply chain. Two dynamic Stackelberg game models have been built involving both a manufacturer and a retailer assumed to be the leader in order. In the two models, the manufacturer sells national-brand (NB) product to an independent retailer or directly to consumers through a direct channel. The retailers sell a store-brand (SB) product when they sell the NB product coming from the manufacturer. Thus, there is competition both in different channels and in products with different brands. To analyze the complexity of the model, parameter bifurcation diagrams and strange attractor diagrams have been therefore plotted. The results show that the game leader has advantages when the market is stable, but it turns disadvantageous if the state falls into unstable as the game follower can quickly adjust the strategy to seize the market. The wholesale price and the direct selling price are high that they incur larger profits if the manufacturer is dominant, but it gets worse when the adjustment speed increases. While in the model where the retailer plays a dominant role, the increase in the adjustment speed is unfavorable to retailer. By controlling the total cost of the direct channel and increasing channel competition strength and brand competition strength, the manufacturers can increase their profits in the game dominated by the retailer. In addition, the stable region within the system will be narrow since the market is sensitive to the channel competition, brand competition, and advertising indifference.

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Predicting the direction of dynamic price adjustment in the Hong Kong hotel industry

Tourism Economics ◽

10.1177/1354816620903900 ◽

2020 ◽

pp. 135481662090390

Author(s):

Ibrahim Mohammed ◽

Basak Denizci Guillet ◽

Rob Law ◽

Wassiuw Abdul Rahaman

Keyword(s):

Hong Kong ◽

Dynamic Pricing ◽

Contextual Factors ◽

Hotel Industry ◽

Price Adjustment ◽

Probit Regression ◽

Market Conditions ◽

Negatively Associated ◽

Dynamic Price ◽

Price Increases

This study analysed dynamic pricing data of Hong Kong hotels within the last-minute 1-week booking window to determine patterns and direction of room rate changes and their association with hotel characteristics regarding tangible attributes, reputational variables and contextual factors. Findings show that room rates are more likely to increase than decrease or stay constant, and that, holding demand and market conditions constant, the likelihood of price increases (decreases), based on standard binomial probit regression, is positively (negatively) associated with size (tangible attribute), chain affiliation and star rating (reputational attributes), and seller density and location accessibility (contextual factors). These results confirm the importance of differentiation in pricing hotel rooms and indicate how hotel customers and revenue managers can combine these characteristics with predicted demand to anticipate the direction of room rate change in the last-minute booking window as the booking horizon approaches check-in.

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A Mathematical Model for Task Scheduling in Cloud Manufacturing Systems focusing on Global Logistics

Procedia Manufacturing ◽

10.1016/j.promfg.2018.10.061 ◽

2018 ◽

Vol 17 ◽

pp. 387-394 ◽

Cited By ~ 2

Author(s):

Jalal Delaram ◽

Omid Fatahi Valilai

Keyword(s):

Mathematical Model ◽

Task Scheduling ◽

Manufacturing Systems ◽

Cloud Manufacturing ◽

Global Logistics

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Selection of resource service chain with conflict-free dependencies in cloud manufacturing systems

International Journal of Internet Manufacturing and Services ◽

10.1504/ijims.2020.10028268 ◽

2020 ◽

Vol 7 (3) ◽

pp. 216

Author(s):

Xiuyang Lei ◽

Zheng Zhang ◽

Yongbo Yu ◽

Haibo Li ◽

Juncheng Tong

Keyword(s):

Manufacturing Systems ◽

Cloud Manufacturing ◽

Service Chain ◽

Resource Service ◽

Selection Of

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Study and Simulation on Dynamics of a Risk-Averse Supply Chain Pricing Model with Dual-Channel and Incomplete Information

International Journal of Bifurcation and Chaos ◽

10.1142/s0218127416501467 ◽

2016 ◽

Vol 26 (09) ◽

pp. 1650146 ◽

Cited By ~ 3

Author(s):

Lijian Sun ◽

Junhai Ma

Keyword(s):

Supply Chain ◽

Incomplete Information ◽

Dynamic Pricing ◽

Wholesale Price ◽

Price Adjustment ◽

Phase Portraits ◽

Largest Lyapunov Exponent ◽

Risk Averse ◽

Dual Channel ◽

Adjustment Speed

Under the industrial background of dual-channel, volatility in demand of consumers, we use the theory of bifurcations and numerical simulation tools to investigate the dynamic pricing game in a dual-channel supply chain with risk-averse behavior and incomplete information. Due to volatility of demand of consumers, we consider all the players in the supply chain are risk-averse. We assume there exist Bertrand game and Manufacturers’ Stackelberg in the chain which are closer to reality. The main objective of the paper is to investigate the complex influence of the decision parameters such as wholesale price adjustment speed, risk preference and service value on stability of the risk-averse supply chain and average utilities of all the players. We lay emphasis on the influence of chaos on average utilities of all the players which did not appear in previous studies. The dynamic phenomena, such as the bifurcation, chaos and sensitivity to initial values are analyzed by 2D bifurcation phase portraits, Double Largest Lyapunov exponent, basins of attraction and so on. The study shows that the manufacturers should slow down their wholesale price adjustment speed to get more utilities, if the manufacturers are willing to take on more risk, they will get more profits, but they must keep their wholesale prices in a certain range in order to maintain the market stability.

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