Return Policy Model of Supply Chain Management for Single-Period Products |
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| Authors: | J He K S Chin J B Yang D L Zhu |
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| Institution: | (1) Department of Manufacturing Engineering and Engineering Management, City University of Hong Kong, Kowloon, Hong Kong, PRC;(2) School of Business Management, University of Manchester, Manchester, UK;(3) School of Management, Fudan University, Shanghai, PRC |
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| Abstract: | A return policy is one of the major issues in supply chain management, particularly for managing single-period products that
are characterized with short sales period and little salvage value. The value of the buyback price is important to ensure
a stable supply chain. The role of the risk attitude of the retailer and supplier is also known as an essential factor to
the decision in determining a return policy. In this paper, we present the result of our investigation into this problem.
The aim of our work is to develop a model to determine optimal return policies for single-period products based on uncertain
market demands and in the presence of risk preferences. The impact of the wholesale price and selling price is also investigated
to determine the optimal order quantities and optimal buyback price for different types of risk attitudes. |
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| Keywords: | Supply management operations strategy decision risk |
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