供应链管理 第三版 Unit12 习题与答案

average, end up selling more products. In a buy-back contract, the manufacturer specifies a wholesale price c along with a buy-back price b at which the retailer can return any unsold units at the end of the season. For a fixed wholesale price, increasing the buy-back price always increases retailer profits. In general, there exists a positive buy-back price at which the manufacturer makes a higher profit compared to offering no buyback. Also observe that buy-backs increase profits for the manufacturer more as the manufacturer’s margin increases. Thus, the greater the manufacturer’s margin, the more they stand to benefit through the use of some mechanism like buy-backs. As the cost associated with a return

increases, buy-back contracts become less attractive because the cost of returns reduces supply chain profits. If return costs are very high, buy-back contracts can reduce the total profits of the supply chain far more than is the case without any buyback.

In revenue-sharing contracts, the manufacturer charges the retailer a low wholesale price and shares a fraction of the revenue generated by the retailer. Even if no returns are allowed, the lower wholesale price decreases the cost to the retailer in case of an overstock. The retailer thus increases the level of

product availability, resulting in higher profits for both the manufacturer and the retailer. Revenue sharing with a lower wholesale price allows both retailers and manufacturers to increase their profit. Revenue sharing encourages retailers to increase the level of product availability.

Manufacturers can use holding cost subsidies to encourage retailers to order more. With holding cost subsidies, manufacturers pay retailers a certain amount for every unit held in inventory over a given period. Holding cost subsidies behave very much like buy-back contracts in their impact on manufacturer and supply chain profits.

Manufacturers can use contracts with quantity flexibility to increase their own profits as well as total supply chain profits.

With vendor-managed inventory (VMI), the manufacturer or supplier is

responsible for all decisions regarding product inventories at the retailer. As a result, the control of the replenishment decision moves to the manufacturer

instead of the retailer. VMI requires the retailer to share demand information with the manufacturer to allow them to make inventory replenishment decisions. VMI can allow a manufacturer to increase their profits as well as profits for the entire supply chain by mitigating some of the effects of double marginalization. Difficulty: Hard

9.

A manufacturer of lawn care equipment has introduced a new product. The

anticipated demand is normally distributed with a mean of μ= 100 and a standard deviation of ? = 50. Each unit costs $75 to manufacture and the introductory price is to be $125 to achieve this level of sales. Any unsold units at the end of the season are unlikely to be very valuable and will be disposed of in a fire sale for $25 each. It costs $10 to hold a unit in inventory for the entire season. What is the cost of overstocking? What is the cost of understocking? What is the optimal cycle service level? How many units should be manufactured for sale? Answer: Co = c – s = $75 - $15 = $60 Cu = p – c = $125 - $75 = $50

9.

CSL* = Cu/(Cu + Co) = 50/(50 + 60) = .4545 ? .45 O* = NORMINV(CSL*, μ, ?) = NORMINV(0.45, 100, 50) = 93.71693 ? 94 Difficulty: Moderate

Note: Cannot complete O* without access to Excel.

In the previous problem, the manufacturer performs additional market research. Based on this research, they determine that they can increase the price to $150 and are able to reduce the standard deviation of the forecast to ? = 30. At the same time, they have made an arrangement with an outlet store that will

purchase unsold equipment for $60 each. How will these changes affect the cost of overstocking, cost of understocking, optimal cycle service level and optimal order size?

Answer: Co = c – s = $75 - $50 = $25 Cu = p – c = $150 - $75 = $75 CSL* = Cu/(Cu + Co) = 75/(75 + 25) = .75 O* = NORMINV(CSL*, μ, ?) = NORMINV(0.75, 100, 30) = 120.2347 ? 120

The change in price increases the cost of understocking. The increase in the salvage value reduces the cost of overstocking. Both of these changes will make it more profitable to increase product availability, which is seen in the increase in the optimal cycle service level. The reduction in standard deviation is the result of a more accurate forecast, which means that less excess inventory is needed to maintain the optimal cycle service level. Difficulty: Hard

Note: Cannot complete O* without access to Excel.