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Zbl 1237.90008
Chen, Jing; Bell, Peter C.
Coordinating a decentralized supply chain with customer returns and price-dependent stochastic demand using a buyback policy. (English)
[J] Eur. J. Oper. Res. 212, No. 2, 293-300 (2011). ISSN 0377-2217

Summary: We investigate a decentralized supply chain that consists of a manufacturer and a retailer where the retailer simultaneously determines the retail price and order quantity while experiencing customer returns and price dependent stochastic demand. We propose an agreement between the manufacturer and the retailer that includes two buyback prices, one for unsold inventory and a second for customer returns, and show that this type of easy-to-implement agreement can achieve perfect supply chain coordination and be a win -- win for both manufacturer and retailer when a complementary profit-sharing agreement is included.

MSC 2000:: *90B05 Inventory management
91B24 Price theory and market structure
91B26 Market models

Keywords: supply chain management; coordination mechanism; buyback policies; pricing; inventory policies

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