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Full-Text Articles in Business
Coordinating Production And Recycling Decisions With Stochastic Demand And Return, Jianmai Shi, Guoqing Zhang, Jichang Sha, Saman Hassanzadeh Amin
Coordinating Production And Recycling Decisions With Stochastic Demand And Return, Jianmai Shi, Guoqing Zhang, Jichang Sha, Saman Hassanzadeh Amin
Mechanical, Automotive & Materials Engineering Publications
In this paper, the joint production and recycling problem is investigated for a hybrid manufacturing and remanufacturing system where brand-new products are produced in the manufacturing plant and recycled products are remanufactured into as-new products in the remanufacturing facility. Both the brand-new products and remanufactured products are used to satisfy customer demands. Returns of used products that are recycled from customers are assumed to be stochastic and nonlinearly price-dependent. A mathematical model is proposed to maximize the overall profit of the system through simultaneously optimizing the production and recycling decisions, subject to two capacity constraints — the manufacturing capacity and …
Multi-Product Budget-Constrained Acquistion And Pricing With Uncertain Demand And Supplier Quantity Discounts, Jianmai Shi, Guoqing Zhang
Multi-Product Budget-Constrained Acquistion And Pricing With Uncertain Demand And Supplier Quantity Discounts, Jianmai Shi, Guoqing Zhang
Mechanical, Automotive & Materials Engineering Publications
We consider the joint acquisition and pricing problem where the retailer sells multiple products with uncertain demands and the suppliers provide all unit quantity discounts.The problem is to determine the optimal acquisition quantities and selling prices so as to maximize the retailer’s expected profit, subject to a budget constraint. This is the first extension to consider supplier discounts in the constrained multi-product newsvendor pricing problem. We establish a mixed integer nonlinear programming (MINLP) model to formulate the problem, and developaLagrangian based solution approach.Computational results for the test problems involving up to thousand products are reported, which show that the Lagrangian …