Inventory control policy of preventive lateral transshipment between retailers in multi periods

Purpose: Preventivelateral transshipment can respond to customers who will choose a substitute or to give up when the product is out of stock. Motivatedby the common practice, adecision-making model of preventive lateral transshipment with multi sellingperiods is developed. The purpose of the paper...

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Detalles Bibliográficos
Autores: He, Qing Ren, Dan, Bin, Liu, Ru
Tipo de recurso: artículo
Fecha de publicación:2014
País:España
Institución:Universitat Politècnica de Catalunya (UPC)
Repositorio:UPCommons. Portal del coneixement obert de la UPC
Idioma:inglés
OAI Identifier:oai:upcommons.upc.edu:2099/15017
Acceso en línea:https://hdl.handle.net/2099/15017
Access Level:acceso abierto
Palabra clave:Business logistics -- Mathematical models
Preventive lateral transshipment
The transship-up-to level
The transship-down-to level
Inventory control policy
Multi selling periods
Logística (Indústria) -- Models matemàtics
Àrees temàtiques de la UPC::Economia i organització d'empreses::Direcció d'operacions::Modelització de transports i logística
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spelling Inventory control policy of preventive lateral transshipment between retailers in multi periodsHe, Qing RenDan, BinLiu, RuBusiness logistics -- Mathematical modelsPreventive lateral transshipmentThe transship-up-to levelThe transship-down-to levelInventory control policyMulti selling periodsLogística (Indústria) -- Models matemàticsÀrees temàtiques de la UPC::Economia i organització d'empreses::Direcció d'operacions::Modelització de transports i logísticaPurpose: Preventivelateral transshipment can respond to customers who will choose a substitute or to give up when the product is out of stock. Motivatedby the common practice, adecision-making model of preventive lateral transshipment with multi sellingperiods is developed. The purpose of the paper is to explore the optimal preventive lateral transshipment policy with multi selling periods. Design/methodology/approach: With adiscrete-time dynamic programming model, we take a dynamic programming approach and adopt backward induction to analyze two retailers’ preventive lateral transshipment policy. Findings: The optimal preventivelateral transshipment policy is a threshold policy which depends on both theremaining selling periods and inventory level. The above properties ensure thattwo retailers can control inventory with preventive lateral transshipment. Practical implications: The retailer can adjust inventory via the thresholdtype policy. The simple decisionrule which compares on-hand inventory level with the critical inventory level can be used to control inventory by preventive lateral transshipment. Originality/value: A discrete-timedecision-making model of preventive lateral transshipment policy isformulated. This model takes consideration of multi selling periods, whichis different from most existing researches on preventive lateraltransshipment.Peer ReviewedOmniaScience20142014-07-0120142014-07-30journal articlehttp://purl.org/coar/resource_type/c_6501NAhttp://purl.org/coar/version/c_be7fb7dd8ff6fe43info:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/2099/15017reponame:UPCommons. Portal del coneixement obert de la UPCinstname:Universitat Politècnica de Catalunya (UPC)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Attribution-NonCommercial 3.0 Spainhttp://creativecommons.org/licenses/by-nc/3.0/es/info:eu-repo/semantics/openAccessoai:upcommons.upc.edu:2099/150172026-05-27T15:37:01Z
dc.title.none.fl_str_mv Inventory control policy of preventive lateral transshipment between retailers in multi periods
title Inventory control policy of preventive lateral transshipment between retailers in multi periods
spellingShingle Inventory control policy of preventive lateral transshipment between retailers in multi periods
He, Qing Ren
Business logistics -- Mathematical models
Preventive lateral transshipment
The transship-up-to level
The transship-down-to level
Inventory control policy
Multi selling periods
Logística (Indústria) -- Models matemàtics
Àrees temàtiques de la UPC::Economia i organització d'empreses::Direcció d'operacions::Modelització de transports i logística
title_short Inventory control policy of preventive lateral transshipment between retailers in multi periods
title_full Inventory control policy of preventive lateral transshipment between retailers in multi periods
title_fullStr Inventory control policy of preventive lateral transshipment between retailers in multi periods
title_full_unstemmed Inventory control policy of preventive lateral transshipment between retailers in multi periods
title_sort Inventory control policy of preventive lateral transshipment between retailers in multi periods
dc.creator.none.fl_str_mv He, Qing Ren
Dan, Bin
Liu, Ru
author He, Qing Ren
author_facet He, Qing Ren
Dan, Bin
Liu, Ru
author_role author
author2 Dan, Bin
Liu, Ru
author2_role author
author
dc.subject.none.fl_str_mv Business logistics -- Mathematical models
Preventive lateral transshipment
The transship-up-to level
The transship-down-to level
Inventory control policy
Multi selling periods
Logística (Indústria) -- Models matemàtics
Àrees temàtiques de la UPC::Economia i organització d'empreses::Direcció d'operacions::Modelització de transports i logística
topic Business logistics -- Mathematical models
Preventive lateral transshipment
The transship-up-to level
The transship-down-to level
Inventory control policy
Multi selling periods
Logística (Indústria) -- Models matemàtics
Àrees temàtiques de la UPC::Economia i organització d'empreses::Direcció d'operacions::Modelització de transports i logística
description Purpose: Preventivelateral transshipment can respond to customers who will choose a substitute or to give up when the product is out of stock. Motivatedby the common practice, adecision-making model of preventive lateral transshipment with multi sellingperiods is developed. The purpose of the paper is to explore the optimal preventive lateral transshipment policy with multi selling periods. Design/methodology/approach: With adiscrete-time dynamic programming model, we take a dynamic programming approach and adopt backward induction to analyze two retailers’ preventive lateral transshipment policy. Findings: The optimal preventivelateral transshipment policy is a threshold policy which depends on both theremaining selling periods and inventory level. The above properties ensure thattwo retailers can control inventory with preventive lateral transshipment. Practical implications: The retailer can adjust inventory via the thresholdtype policy. The simple decisionrule which compares on-hand inventory level with the critical inventory level can be used to control inventory by preventive lateral transshipment. Originality/value: A discrete-timedecision-making model of preventive lateral transshipment policy isformulated. This model takes consideration of multi selling periods, whichis different from most existing researches on preventive lateraltransshipment.
publishDate 2014
dc.date.none.fl_str_mv 2014
2014-07-01
2014
2014-07-30
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
NA
http://purl.org/coar/version/c_be7fb7dd8ff6fe43
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/2099/15017
url https://hdl.handle.net/2099/15017
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial 3.0 Spain
http://creativecommons.org/licenses/by-nc/3.0/es/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial 3.0 Spain
http://creativecommons.org/licenses/by-nc/3.0/es/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv OmniaScience
publisher.none.fl_str_mv OmniaScience
dc.source.none.fl_str_mv reponame:UPCommons. Portal del coneixement obert de la UPC
instname:Universitat Politècnica de Catalunya (UPC)
instname_str Universitat Politècnica de Catalunya (UPC)
reponame_str UPCommons. Portal del coneixement obert de la UPC
collection UPCommons. Portal del coneixement obert de la UPC
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,301603

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