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Information Revision and Decision Making in Supply Chain Management

In: Stochastic Modeling and Optimization

Author

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  • Houmin Yan
  • Hanqin Zhang

Abstract

Facing a fast growing global economy and advances in the emerging e-commerce, companies must deal with customers who are well informed and have diverse needs. Many companies have taken a lead in obtaining advance information about customer demands. On the other hand, it is common that for the same sets of goods, companies provide their customers with choices of different lead times and delivery methods. These differences in lead times and delivery alternatives may result in different charging schemes, as faster delivery modes typically cost more. The models investigated in this chapter consider both advance demand information and multiple supply sources. We show that a state-dependent base-stock policy is optimal.

Suggested Citation

  • Houmin Yan & Hanqin Zhang, 2003. "Information Revision and Decision Making in Supply Chain Management," Springer Books, in: Stochastic Modeling and Optimization, chapter 14, pages 429-457, Springer.
    • Handle: RePEc:spr:sprchp:978-0-387-21757-4_14
    DOI: 10.1007/978-0-387-21757-4_14
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