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大数据管理与优化系列论坛:许建军

报告题目:Optimal Dual Sales and Stock Replenishment by Flexible Contracts with Spot Markets
报告人:许建军
报告时间:2018年12月3日(周一)上午9:00-11:00
报告地点:劝学楼444室
主办单位:管理科学与工程学院

【报告简介】
In this paper, we consider a company that uses the following two  channels for trading: one through a long-term contract and the other through the spot market. With the quantity flexibility long-term contract, the buyer commits to purchase at least as much as the minimum order quantity and is able to reserve capacity at the supplier up to the maximum order quantity in each period, at a predetermined price. Through the spot market, the buyer can order or sell inventory at the uncertain future spot price without quantity limitations. A fixed setup cost is incurred in each instance of buying or selling from or to the spot market. This paper considers very general inventory-related costs (not necessarily convex) and demand is random following a one-sided P\'{o}lya distribution. We introduce a new concept, Quasi-(K1;K2)-convexity with changeover points, and characterize the optimal trading policy in the spot market. We show that the optimal policy can be characterized by five critical points. We also partially characterize the optimal procurement from the contract supplier. The two heuristics that are easier to work with to calculate procurement quantities and yield near optimal results in many cases are presented as well. Moreover, we show that our results apply to the uniform demand, which is not Polya, and numerical tests assuming uniform demand are performed to discern the factors that are most important and gain managerial insights.
 
撰稿:田甜           审核:刘德海        单位:管理科学与工程学院