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9月16日工业工程与管理系——Inventory Models with Delivery Upgrade

讲座题目Inventory Models with Delivery Upgrade


时 间916日(周四)上午9:00
地 点:方正大厦608会议室


Motivated by real-life business issues faced by Toyota China dealerships, we consider inventory-control models with delivery upgrades, in which the seller allocates its on-hand inventory to price- and delivery-time-sensitive customers. The seller has two inventory decisions: commitment and replenishment. The former addresses, within an inventory cycle, how on-hand inventories are allocated between the two classes of customers. The latter addresses, between inventory cycles, how the inventory is replenished. In this paper, we develop optimal inventory allocation, upgrade, and replenishment policies, and demonstrate that the optimal control can be characterized by switching curves. We extend our analysis to include cases of upgrade cost, stock-out substitution, and capacity constraint. Finally, we use the Toyota dealership data to calibrate the required parameters and demonstrate the potential of the optimal inventory allocation and upgrade control.


Xiaoying Liang is currently a postdoctoral fellow with Department of Systems Engineering and Engineering Management, Chinese University of Hong Kong. He received his Bachelor degree from Tsinghua University in 2003, and his Ph.D. degree in Systems Engineering and Engineering Management from Chinese University of Hong Kong in 2010. His main research interests include inventory Optimization, supply chain management, revenue management, operations management/marketing interface, and applied game theory.