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In China, most of peer-to-peer (P2P) lending platforms do not possess operational sustainability due to excessive defaults. To address this problem, the conflict of interests among P2P lending participants is discussed using a stakeholder approach. An evolutionary game model (EGM) of three players is developed to analyse the interactions among regulatory authorities, P2P lending platforms, and borrowers. Then, the asymptotic of the equilibrium and evolutionary stability strategies of the EGM are analysed. Results indicate that either the P2P lending platforms or borrowers will choose “noncompliant operation” or “default” strategies from a short-term perspective, and the strict supervision of the P2P lending platform in the short term is necessary for the sustainable operation of the platform. When supervision is intensified in the early stage and regulatory pressure becomes a normal state, P2P lending platforms and borrowers will actively select “compliant operation” and “repayment” strategies even if there is a lack of regulation in the future. Meanwhile, the behavioural strategies of P2P lending participants can be changed to conform to the sustainability of P2P lending by reducing the costs of strict supervision and increasing the damage caused by general supervision, reward and punishment coefficient for P2P lending platforms, repayment incentives of borrowers, and defaulting opportunity costs. Finally, suggestions for regulating the behaviours of P2P lending participants and promoting sustainability of P2P lending industry are discussed.
Ge You; Hao Guo; Abd Alwahed Dagestani; Shuai Deng. Evolutionary Game Analysis of Three Players on Behavioural Strategy of P2P Lending Participants: A Sustainable Operations Perspective. Complexity 2021, 2021, 1 -18.
AMA StyleGe You, Hao Guo, Abd Alwahed Dagestani, Shuai Deng. Evolutionary Game Analysis of Three Players on Behavioural Strategy of P2P Lending Participants: A Sustainable Operations Perspective. Complexity. 2021; 2021 ():1-18.
Chicago/Turabian StyleGe You; Hao Guo; Abd Alwahed Dagestani; Shuai Deng. 2021. "Evolutionary Game Analysis of Three Players on Behavioural Strategy of P2P Lending Participants: A Sustainable Operations Perspective." Complexity 2021, no. : 1-18.
In this paper, a bike repositioning problem with stochastic demand is studied. The problem is formulated as a two-stage stochastic programming model to optimize the routing and loading/unloading decisions of the repositioning truck at each station and depot under stochastic demands. The goal of the model is to minimize the expected total sum of the transportation costs, the expected penalty costs at all stations, and the holding cost of the depot. A simulated annealing algorithm is developed to solve the model. Numerical experiments are conducted on a set of instances from 20 to 90 stations to demonstrate the effectiveness of the solution algorithm and the accuracy of the proposed two-stage stochastic model.
Qiong Tang; Zhuo Fu; Dezhi Zhang; Hao Guo; Minyi Li. Addressing the Bike Repositioning Problem in Bike Sharing System: A Two-Stage Stochastic Programming Model. Scientific Programming 2020, 2020, 1 -12.
AMA StyleQiong Tang, Zhuo Fu, Dezhi Zhang, Hao Guo, Minyi Li. Addressing the Bike Repositioning Problem in Bike Sharing System: A Two-Stage Stochastic Programming Model. Scientific Programming. 2020; 2020 ():1-12.
Chicago/Turabian StyleQiong Tang; Zhuo Fu; Dezhi Zhang; Hao Guo; Minyi Li. 2020. "Addressing the Bike Repositioning Problem in Bike Sharing System: A Two-Stage Stochastic Programming Model." Scientific Programming 2020, no. : 1-12.
Commercial product returns represent a growing financial and operational concern for many firms, and they consist of true and false failure returns in the real-world business. This paper studies a joint location-inventory problem in a closed-loop system by considering multi-commodity flows and commercial product returns. First, this problem is formulated as a mixed-integer nonlinear programming model. Next, a novel heuristic method based on differential evolution is designed to solve this model efficiently. Finally, numerical experiments and results are presented to validate the solution approach and provide meaningful managerial insights for business managers to improve their supply chain practice in a closed-loop system with false failure returns.
Hao Guo; Ying Zhang; Chunnan Zhang; Zixin Han. A multi-commodity location-inventory problem in a closed-loop supply chain with commercial product returns. International Journal of Production Research 2019, 58, 6899 -6916.
AMA StyleHao Guo, Ying Zhang, Chunnan Zhang, Zixin Han. A multi-commodity location-inventory problem in a closed-loop supply chain with commercial product returns. International Journal of Production Research. 2019; 58 (22):6899-6916.
Chicago/Turabian StyleHao Guo; Ying Zhang; Chunnan Zhang; Zixin Han. 2019. "A multi-commodity location-inventory problem in a closed-loop supply chain with commercial product returns." International Journal of Production Research 58, no. 22: 6899-6916.
Customer returns are a common phenomenon in many industries, and they have a significant impact on business organizations and their supply chains. False failure returns are returned products that have no functional or cosmetic defects, and they represent a large body of customer returns in practice. In this paper, we develop a mixed-integer nonlinear programming model to study a multicommodity location-inventory problem in a forward-reverse logistics network. This model minimizes the total cost in this network by considering false failure returns, and it also considers many real-world business scenarios in forward and reverse logistics flows. Moreover, we design a new heuristic approach to solve the model efficiently. Finally, numerical experiments are conducted to validate our solution approach and provide meaningful managerial insights.
Congdong Li; Hao Guo; Ying Zhang; Shuai Deng; Yu Wang. An Improved Differential Evolution Algorithm for a Multicommodity Location-Inventory Problem with False Failure Returns. Complexity 2018, 2018, 1 -13.
AMA StyleCongdong Li, Hao Guo, Ying Zhang, Shuai Deng, Yu Wang. An Improved Differential Evolution Algorithm for a Multicommodity Location-Inventory Problem with False Failure Returns. Complexity. 2018; 2018 ():1-13.
Chicago/Turabian StyleCongdong Li; Hao Guo; Ying Zhang; Shuai Deng; Yu Wang. 2018. "An Improved Differential Evolution Algorithm for a Multicommodity Location-Inventory Problem with False Failure Returns." Complexity 2018, no. : 1-13.
This paper studies a location-inventory problem in a closed-loop supply chain by considering the demand and sales in the primary and secondary markets. Based on a real business program in a big e-commerce company, we develop a mixed-integer nonlinear programming model with a single hybrid production-recovery center, multiple hybrid distribution-collection centers, and many customer zones. As a closed-loop system, forward and reverse logistics flows in each market are considered, and the logistics flows between the two markets are also captured. Moreover, a novel heuristic approach based on differential evolution is designed to solve the model efficiently, and its performance is also compared with other popular methods. Finally, research implications and managerial insights are provided to advance real-world practices.
Hao Guo; Ying Zhang; Chunnan Zhang; Yu Liu; Yuan Zhou. Location-inventory decisions for closed-loop supply chain management in the presence of the secondary market. Annals of Operations Research 2018, 291, 361 -386.
AMA StyleHao Guo, Ying Zhang, Chunnan Zhang, Yu Liu, Yuan Zhou. Location-inventory decisions for closed-loop supply chain management in the presence of the secondary market. Annals of Operations Research. 2018; 291 (1-2):361-386.
Chicago/Turabian StyleHao Guo; Ying Zhang; Chunnan Zhang; Yu Liu; Yuan Zhou. 2018. "Location-inventory decisions for closed-loop supply chain management in the presence of the secondary market." Annals of Operations Research 291, no. 1-2: 361-386.
Facility location, inventory management, and vehicle routing are three important decisions in supply chain management, and location-inventory-routing problems consider them jointly to improve the performance and efficiency of today’s supply chain networks. In this paper, we study a location-inventory-routing problem to minimize the total cost in a closed-loop supply chain that has forward and reverse logistics flows. First, we formulate this problem as a nonlinear integer programming model to optimize facility location, inventory control, and vehicle routing decisions simultaneously in such a system. Second, we develop a novel heuristic approach that incorporates simulated annealing into adaptive genetic algorithm to solve the model efficiently. Last, numerical analysis is presented to validate our solution approach, and it also provides meaningful managerial insight into how to improve the closed-loop supply chain under study.
Hao Guo; Congdong Li; Ying Zhang; Chunnan Zhang; Yu Wang. A Nonlinear Integer Programming Model for Integrated Location, Inventory, and Routing Decisions in a Closed-Loop Supply Chain. Complexity 2018, 2018, 1 -17.
AMA StyleHao Guo, Congdong Li, Ying Zhang, Chunnan Zhang, Yu Wang. A Nonlinear Integer Programming Model for Integrated Location, Inventory, and Routing Decisions in a Closed-Loop Supply Chain. Complexity. 2018; 2018 ():1-17.
Chicago/Turabian StyleHao Guo; Congdong Li; Ying Zhang; Chunnan Zhang; Yu Wang. 2018. "A Nonlinear Integer Programming Model for Integrated Location, Inventory, and Routing Decisions in a Closed-Loop Supply Chain." Complexity 2018, no. : 1-17.
To design sustainable supply chain systems in today’s business environment, this paper studies a location-inventory problem in a closed-loop supply chain by considering the sales of new and used products in the primary and secondary markets, respectively. This problem is formulated as a mixed-integer nonlinear program to optimize facility location and inventory management decisions jointly, and the logistics flows between the two markets are modeled dynamically. To solve this problem efficiently, a new heuristic approach is also developed by introducing an effective adaptive mechanism into differential evolution. Finally, numerical experiments are presented to validate the solution approach and provide valuable managerial insight. This paper makes a meaningful contribution to the literature by incorporating the secondary market into the study of closed-loop supply chains, and practically, it is also greatly beneficial to improve the sustainability and efficiency of modern supply chains.
Hao Guo; Congdong Li; Ying Zhang; Chunnan Zhang; Mengmeng Lu. A Location-Inventory Problem in a Closed-Loop Supply Chain with Secondary Market Consideration. Sustainability 2018, 10, 1891 .
AMA StyleHao Guo, Congdong Li, Ying Zhang, Chunnan Zhang, Mengmeng Lu. A Location-Inventory Problem in a Closed-Loop Supply Chain with Secondary Market Consideration. Sustainability. 2018; 10 (6):1891.
Chicago/Turabian StyleHao Guo; Congdong Li; Ying Zhang; Chunnan Zhang; Mengmeng Lu. 2018. "A Location-Inventory Problem in a Closed-Loop Supply Chain with Secondary Market Consideration." Sustainability 10, no. 6: 1891.
Third-party logistics (3PL) is a fast growing business. Many large organisations are using 3PL services to reduce operating costs, simplify business processes, and enhance operations and supply chain flexibility. In this paper, we study location-inventory decisions jointly in a closed-loop system with 3PL. First, a model formulation is proposed to develop mixed-integer non-linear programming (MINLP) models for the location-inventory problem under study. Then, a novel heuristics based on differential evolution and the genetic algorithm is designed to solve the MINLP models efficiently. Last, numerical study is presented to illustrate and validate the solution approach.
Yanhui Li; Hao Guo; Ying Zhang. An integrated location-inventory problem in a closed-loop supply chain with third-party logistics. International Journal of Production Research 2017, 56, 3462 -3481.
AMA StyleYanhui Li, Hao Guo, Ying Zhang. An integrated location-inventory problem in a closed-loop supply chain with third-party logistics. International Journal of Production Research. 2017; 56 (10):3462-3481.
Chicago/Turabian StyleYanhui Li; Hao Guo; Ying Zhang. 2017. "An integrated location-inventory problem in a closed-loop supply chain with third-party logistics." International Journal of Production Research 56, no. 10: 3462-3481.
This paper presents a closed-loop location-inventory-routing problem model considering both quality defect returns and nondefect returns in e-commerce supply chain system. The objective is to minimize the total cost produced in both forward and reverse logistics networks. We propose a combined optimization algorithm named hybrid ant colony optimization algorithm (HACO) to address this model that is an NP-hard problem. Our experimental results show that the proposed HACO is considerably efficient and effective in solving this model.
Shuai Deng; Yanhui Li; Hao Guo; Bailing Liu. Solving a Closed-Loop Location-Inventory-Routing Problem with Mixed Quality Defects Returns in E-Commerce by Hybrid Ant Colony Optimization Algorithm. Discrete Dynamics in Nature and Society 2016, 2016, 1 -12.
AMA StyleShuai Deng, Yanhui Li, Hao Guo, Bailing Liu. Solving a Closed-Loop Location-Inventory-Routing Problem with Mixed Quality Defects Returns in E-Commerce by Hybrid Ant Colony Optimization Algorithm. Discrete Dynamics in Nature and Society. 2016; 2016 ():1-12.
Chicago/Turabian StyleShuai Deng; Yanhui Li; Hao Guo; Bailing Liu. 2016. "Solving a Closed-Loop Location-Inventory-Routing Problem with Mixed Quality Defects Returns in E-Commerce by Hybrid Ant Colony Optimization Algorithm." Discrete Dynamics in Nature and Society 2016, no. : 1-12.
Mengmeng Lu; Yanhui Li; Bailing Liu; Hao Guo. A joint location-inventory model and algorithm with implementation in e-commerce. Advances in Services Science and Services Information Technology 2014, 1, 1351 -1358.
AMA StyleMengmeng Lu, Yanhui Li, Bailing Liu, Hao Guo. A joint location-inventory model and algorithm with implementation in e-commerce. Advances in Services Science and Services Information Technology. 2014; 1 ():1351-1358.
Chicago/Turabian StyleMengmeng Lu; Yanhui Li; Bailing Liu; Hao Guo. 2014. "A joint location-inventory model and algorithm with implementation in e-commerce." Advances in Services Science and Services Information Technology 1, no. : 1351-1358.
Facility location, inventory control, and vehicle routes scheduling are critical and highly related problems in the design of logistics system for e-business. Meanwhile, the return ratio in Internet sales was significantly higher than in the traditional business. Many of returned merchandise have no quality defects, which can reenter sales channels just after a simple repackaging process. Focusing on the existing problem in e-commerce logistics system, we formulate a location-inventory-routing problem model with no quality defects returns. To solve this NP-hard problem, an effective hybrid genetic simulated annealing algorithm (HGSAA) is proposed. Results of numerical examples show that HGSAA outperforms GA on computing time, optimal solution, and computing stability. The proposed model is very useful to help managers make the right decisions under e-supply chain environment.
Yanhui Li; Hao Guo; Lin Wang; Jing Fu. A Hybrid Genetic-Simulated Annealing Algorithm for the Location-Inventory-Routing Problem Considering Returns under E-Supply Chain Environment. The Scientific World Journal 2013, 2013, 1 -10.
AMA StyleYanhui Li, Hao Guo, Lin Wang, Jing Fu. A Hybrid Genetic-Simulated Annealing Algorithm for the Location-Inventory-Routing Problem Considering Returns under E-Supply Chain Environment. The Scientific World Journal. 2013; 2013 (4):1-10.
Chicago/Turabian StyleYanhui Li; Hao Guo; Lin Wang; Jing Fu. 2013. "A Hybrid Genetic-Simulated Annealing Algorithm for the Location-Inventory-Routing Problem Considering Returns under E-Supply Chain Environment." The Scientific World Journal 2013, no. 4: 1-10.
Hao Guo; Yanhui Li. Multiobjective Location-Inventory-Routing Problem Taking Returns into Consideration. Intelligent Computing Techniques for Smart Energy Systems 2013, 271, 19 -26.
AMA StyleHao Guo, Yanhui Li. Multiobjective Location-Inventory-Routing Problem Taking Returns into Consideration. Intelligent Computing Techniques for Smart Energy Systems. 2013; 271 ():19-26.
Chicago/Turabian StyleHao Guo; Yanhui Li. 2013. "Multiobjective Location-Inventory-Routing Problem Taking Returns into Consideration." Intelligent Computing Techniques for Smart Energy Systems 271, no. : 19-26.