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Yi Wang
Department of Industrial Engineering, School of Management, Hangzhou Dianzi University Hangzhou, 310018, China

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Journal article
Published: 01 June 2020 in European Journal of Operational Research
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This paper studies the impact of partner selection on the value of information sharing in a distribution system with one capacitated make-to-stock manufacturer and two retailers. When the high priority retailer with a higher shortfall cost is the sole partner, in the case that the low priority one places an order, the manufacturer allocates inventory more accurately according to more predictable orders from the high priority retailer. When only the low priority retailer shares information, the manufacturer is better informed about orders from this retailer, which shall trigger rationing decisions. Such intriguing differences in utilizing information from two prioritized retailers further induce different interactions between production and rationing policies and form two distinctive but closely related selective-information sharing systems. We characterize the manufacturer’s optimal production and rationing policies under both systems. Through a numerical study, we emphasize the effectiveness of partnering with the high priority retailer. When the manufacturer can establish information sharing links with only one retailer, such a choice usually brings more benefits despite differences in order sizes and/or demand rates of the two retailers. When a selective-information sharing system is the pilot run to full-information sharing, we find that the value of information throughout the implementation process often exhibits second-mover advantage and such a choice also helps the manufacturer create a more balanced return pattern. Finally, we illustrate that the cost-effectiveness of inventory rationing can be significant and optimally rationing inventory is the prerequisite for the superior of the selective-information sharing system with the high priority retailer.

ACS Style

Yi Wang; Sheng Hao Zhang. Optimal production and inventory rationing policies with selective-information sharing and two demand classes. European Journal of Operational Research 2020, 288, 394 -407.

AMA Style

Yi Wang, Sheng Hao Zhang. Optimal production and inventory rationing policies with selective-information sharing and two demand classes. European Journal of Operational Research. 2020; 288 (2):394-407.

Chicago/Turabian Style

Yi Wang; Sheng Hao Zhang. 2020. "Optimal production and inventory rationing policies with selective-information sharing and two demand classes." European Journal of Operational Research 288, no. 2: 394-407.

Articles
Published: 14 October 2019 in International Journal of Production Research
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This paper studies a periodic-review, infinite-horizon, backlogging inventory model with two demand classes and a constant lead time, where inventory replenishment follows a base-stock policy. We consider an anticipated rationing policy which reserves inventory for future high-priority demands with higher backlogging costs by taking the coming delivery of the next period into consideration. Due to the lack of nice properties such as convexity, both the optimal base-stock level and the optimal critical level when minimising inventory costs have to be found by an exhaustive search. Instead, we study a single-period problem truncated from the original infinite-horizon problem and derive its optimal reservation level with a closed-form expression. Surprisingly, the solution form of the single-period problem coincides exactly with the anticipated rationing policy and hence this solution serves as a good approximation for the optimal critical level of the infinite-horizon problem. An empirical study further demonstrates that our closed-form approximation is quite attractive in both solution accuracy and computation efficiency based on spare parts inventory data from a petrochemical plant in China.

ACS Style

Yi Wang; Sheng Hao Zhang; Sean X. Zhou; Yong Zhang. Anticipated rationing policy for inventory systems with two demand classes and backlogging costs. International Journal of Production Research 2019, 58, 6300 -6314.

AMA Style

Yi Wang, Sheng Hao Zhang, Sean X. Zhou, Yong Zhang. Anticipated rationing policy for inventory systems with two demand classes and backlogging costs. International Journal of Production Research. 2019; 58 (20):6300-6314.

Chicago/Turabian Style

Yi Wang; Sheng Hao Zhang; Sean X. Zhou; Yong Zhang. 2019. "Anticipated rationing policy for inventory systems with two demand classes and backlogging costs." International Journal of Production Research 58, no. 20: 6300-6314.

Journal article
Published: 04 April 2017 in Sustainability
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We analyze the organic and non-organic production choices of two firms by considering customers’ trust in organic food products. In the context of customers’ possible willingness to pay a premium price and their mistrust in organic food products, two firms first make choices on offering organic and non-organic food products. If offering organic products, a firm can further invest in the credence system to increase customers’ trust in their organic products. At the final stage, two firms determine prices. We provide serval insights. First, we characterize the market conditions in which only one firm, both firms or neither firm will choose to offer organic food products. We find that the higher the production costs or credence investment costs for organic food products are, the more likely firms are to choose to produce non-organic food products. Second, if it is expensive enough to invest in organic credence, offering organic food products may still be uncompetitive, even if organic production cost appears to have no disadvantage compared to non-organic food products. Third, we highlight how the prices of organic food products in equilibrium are affected by market parameters. We show that when only one firm offers organic food products, this firm tends to offer a relatively low price if organic credence investment is expensive. Fourth, we highlight how one firm’s credence investment decision in equilibrium can be affected by the product type choice of the other firm. We find that the investment in organic credence is lower when both firms offer organic food products compared with the case when only one firm offers organic food products.

ACS Style

Yi Wang; Zhanguo Zhu; Feng Chu. Organic vs. Non-Organic Food Products: Credence and Price Competition. Sustainability 2017, 9, 545 .

AMA Style

Yi Wang, Zhanguo Zhu, Feng Chu. Organic vs. Non-Organic Food Products: Credence and Price Competition. Sustainability. 2017; 9 (4):545.

Chicago/Turabian Style

Yi Wang; Zhanguo Zhu; Feng Chu. 2017. "Organic vs. Non-Organic Food Products: Credence and Price Competition." Sustainability 9, no. 4: 545.

Journal article
Published: 02 March 2015 in Journal of Systems Science and Systems Engineering
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In many equipment manufacturing industries, firms compete with each other not only on products price, but also on maintenance service. More and more traditional products oriented firms are offering their customers products bundled with maintenance service (P&S bundles). In this study, we examine firms’ incentive to offer customers products bundling with long-term maintenance or repair support service in a duopoly competitive environment. When providing P&S bundles, a firm need to determine the service level (in terms of average response time guarantee for the service in this paper) to offer and needs to build a service facility to handle the maintenance service requirements. Based on the analysis of three sub-game models, we characterize the market conditions in which only one firm, both firms or neither firm will offer P&S bundles. Finally, we analyze the affects of serval market factors on firms’ strategy choices.

ACS Style

Yi Wang; Linyan Sun; Rong Qu; Gang Li. Price and service competition with maintenance service bundling. Journal of Systems Science and Systems Engineering 2015, 24, 168 -189.

AMA Style

Yi Wang, Linyan Sun, Rong Qu, Gang Li. Price and service competition with maintenance service bundling. Journal of Systems Science and Systems Engineering. 2015; 24 (2):168-189.

Chicago/Turabian Style

Yi Wang; Linyan Sun; Rong Qu; Gang Li. 2015. "Price and service competition with maintenance service bundling." Journal of Systems Science and Systems Engineering 24, no. 2: 168-189.

Journal article
Published: 01 June 2013 in Computers & Industrial Engineering
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This paper considers a periodic-review, infinite-horizon, backorder inventory model with two demand classes, where a base-stock policy controls replenishment. We propose an easy-to-use rationing policy, which reserves inventory for future high priority demands by taking the coming delivery of the next period into consideration, hence called anticipated rationing policy. By applying a multidimensional Markov chain approach, we are able to evaluate system performance exactly. We also derive structural results and find optimal solutions for both @a-service level and @c-service level constraint problems. A numerical comparison study demonstrates the effectiveness of anticipated rationing policy, where the well-known constant level rationing policy serves as the benchmark.

ACS Style

Yi Wang; Sheng Hao Zhang; Linyan Sun. Anticipated rationing policy for two demand classes under service level constraints. Computers & Industrial Engineering 2013, 65, 331 -340.

AMA Style

Yi Wang, Sheng Hao Zhang, Linyan Sun. Anticipated rationing policy for two demand classes under service level constraints. Computers & Industrial Engineering. 2013; 65 (2):331-340.

Chicago/Turabian Style

Yi Wang; Sheng Hao Zhang; Linyan Sun. 2013. "Anticipated rationing policy for two demand classes under service level constraints." Computers & Industrial Engineering 65, no. 2: 331-340.