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The Newsvendor Problem: Review And Directions For Future Research, Yan Qin, Ruoxuan Wang, Asoo Vakharia, Yuwen Chen, Michelle Seref
The Newsvendor Problem: Review And Directions For Future Research, Yan Qin, Ruoxuan Wang, Asoo Vakharia, Yuwen Chen, Michelle Seref
Yuwen Chen
In this paper, we review the contributions to date for analyzing the newsvendor problem. Our focus is on examining the specific extensions for analyzing this problem in the context of modeling customer demand, supplier costs, and the buyer risk profile. More specifically, we analyze the impact of market price, marketing effort, and stocking quantity on customer demand; how supplier prices can serve as a coordination mechanism in a supply chain setting; integrating alternative supplier pricing policies within the newsvendor framework; and how the buyer’s risk profile moderates the newsvendor order quantity decision. For each of these areas, we summarize the …
A Product Diffusion Model For Single-Function And Fusion Products, Yuwen Chen, Janice Carrillo
A Product Diffusion Model For Single-Function And Fusion Products, Yuwen Chen, Janice Carrillo
Yuwen Chen
The prosperity of multifunction products (also referred to as fusion products) has changed the landscape of the marketplace for several electronics products. To illustrate, as fusion products gain popularity in cellular phones and office machines, we observe that single-function products (e.g., stand-alone PDAs and stand-alone scanners) gradually disappear from the market as they are supplanted by fusion products. This paper presents a product diffusion model that captures the diffusion transition from two distinct single-function products into one fusion product. We investigate the optimal launch time of the fusion product under various conditions and conduct a numerical analysis to demonstrate the …