A computational study of risk-averse parameter effects on a 2-stage supply chain coordination under refund-dependent demand

Loi, N, Truong Ton, H and Buddhakulsomsiri, J 2015, 'A computational study of risk-averse parameter effects on a 2-stage supply chain coordination under refund-dependent demand', in David Al-Dabass; Ismail Saad; Nurmin Bolong; Mohd Hanafi Ahmad Hijazi (ed.) Proceedings of the 3rd International Conference on Artificial Intelligence, Modelling and Simulation (AIMS 2015), Kota Kinabalu, Malaysia, 2-4 December 2015, pp. 262-267.


Document type: Conference Paper
Collection: Conference Papers

Title A computational study of risk-averse parameter effects on a 2-stage supply chain coordination under refund-dependent demand
Author(s) Loi, N
Truong Ton, H
Buddhakulsomsiri, J
Year 2015
Conference name AIMS 2015
Conference location Kota Kinabalu, Malaysia
Conference dates 2-4 December 2015
Proceedings title Proceedings of the 3rd International Conference on Artificial Intelligence, Modelling and Simulation (AIMS 2015)
Editor(s) David Al-Dabass; Ismail Saad; Nurmin Bolong; Mohd Hanafi Ahmad Hijazi
Publisher IEEE
Place of publication United States
Start page 262
End page 267
Total pages 6
Abstract This paper examines a 2-stage supply chain that features a buyback contract between manufacturer and retailer under uncertain demand and consumer returns policy with partial refund amount. The supply chain is optimized using the utility of profit that includes the mean and variance of profit. The optimal values of buyback price, wholesale price, and retailer's order quantity are determined for the coordination situation of the decentralized supply chain when its members are risk averse. Through a computational study, the impacts of the supply chain members' risk attitudes and refund amount on the optimal decisions are investigated for the uncoordinated supply chain where one of the agents makes off-optimal decision.
Subjects Logistics and Supply Chain Management
Keyword(s) Customer returns
Supply chain coordination
Buyback contract
Game theory
Refund-dependent demand
Risk-averse
Mean-variance
DOI - identifier 10.1109/AIMS.2015.51
Copyright notice © 2015 IEEE
ISBN 9781467386760
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