Dynamic Price Quotation in a Responsive Supply Chain for One-of-a-Kind Production

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dc.contributor.authorNault, Barrie R
dc.contributor.authorZhang, Jian (Ray)
dc.contributor.authorYonag, Wensheng
dc.contributor.authorTu, Yiliu
dc.date.accessioned2015-05-25T22:13:56Z
dc.date.available2015-05-25T22:13:56Z
dc.date.issued2012-09
dc.descriptionElsevier: We are able to post the post print/accepted author manuscript or the pre-print file (http://www.elsevier.com/journal-authors/author-rights-and-responsibilities#author-posting). Article deposited according to publisher's policy. 05/25/2015en_US
dc.description.abstractThis paper studies the setting in which a one-of-a-kind production (OKP) firm offers two types of orders (due-date guaranteed and due-date unguaranteed) at different prices to the sequentially arriving customers, who are also OKP production firms. The prices for two types of orders are quoted to each customer on its arrival. We study two problems in this setting. First, we model a dynamic pricing strategy (DPS) and compare our DPS with a constant pricing strategy (CPS). Through a numerical test, we show that both the firm and its customers are better off when our DPS is employed, so that the DPS improves overall performance of the supply chain. Through an industry case, a custom window production firm, we show how to apply the proposed DPS when products are complex. We also develop a method to adaptively estimate the firm's available capacity, the number of future arrivals and the distributions of the customers' willingness to pay and impatience factor. The simulation result shows that, when multiple distribution parameters are unknown, the proposed parameter estimating method results in estimates close to the true values.en_US
dc.identifier.citationZhang, J., Nault, B.R., Yang, W., and Y.Tu, "Dynamic Price Quotation in a Responsive Supply Chain for One-of-a-Kind Production," International Journal of Production Economics, 139 (September 2012), 275-287.en_US
dc.identifier.doihttp://dx.doi.org/10.11575/PRISM/28794
dc.identifier.issn0925-5273
dc.identifier.urihttp://hdl.handle.net/1880/50441
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.publisher.corporateUniversity of Calgaryen_US
dc.publisher.departmentManagement Information Systemsen_US
dc.publisher.facultyHaskayne School of Businessen_US
dc.publisher.institutionUniversity of Calgaryen_US
dc.subjectDynamic Pricingen_US
dc.subjectMake-to-orderen_US
dc.subjectParametric learningen_US
dc.subjectCapacity managementen_US
dc.subjectResponsive supply chainen_US
dc.subjectOne-of-a-kind productionen_US
dc.titleDynamic Price Quotation in a Responsive Supply Chain for One-of-a-Kind Productionen_US
dc.typejournal article
thesis.degree.disciplineManagement Information Systemsen_US
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