Optimizing Replenishment and Pricing in a Vendor-managed Inventory Supply Chain When Customers Negotiate

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Bagherirad, Sonia | 2016

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 48893 (01)
University: Sharif University of Technology
Department: Industrial Engineering
Advisor(s): Modarres Yazdi, Mohammad
Abstract:
In this study vendor-managed inventory policy in supply chains is investigated and a formulation is developed to optimize replenishments from vendor to retailer and also price for negotiator customers. As a result, we consider a two echelon supply chain containing a vendor and a retailer managed according to VMI policy. The goal is to find the optimal replenishment from vendor to retailer at the beginning of the month and by using dynamic programming approach to maximize the supply chain profit. Demand is nondeterministic and it is supposed Poisson distribution with unknown parameter. We will consider Gamma distribution for this parameter which its parameters are learning in dynamic programming stages. Additionally customer price is one of important factors in calculating profit which is a decision variable in this study and its optimal value is calculated regarding to customers negotiating between customers and retailer and also according to remained inventory
Keywords:
Dynamic Pricing ; Vendor Managed Inventory (VMI) ; Negotiation Tactics ; Decentralized Supply Chain ; Q-Learning

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