By Xiaoying Liang, Lijun Ma, Haifeng Wang, Houmin Yan
This publication develops a modeling framework to research the matter of stock administration with substitute supply occasions. the final context thought of here's vendor replenishes its stock in fastened periods and, among replenishments, allocates the restricted stock to meet clients who're either expense and delivery-time delicate. at the call for part, shoppers have heterogeneous delivery-time standards and select both spot or overdue supply. This theoretical modeling captures the essence of real-world company practices reminiscent of the supply time industry segmentation procedure followed via car dealerships in China and lots of different related examples. The e-book specializes in the seller’s optimum stock replenishment and insist success regulations, and our effects supply managerial insights into the advantages of versatile delivery-time techniques. comparable purposes resembling the group-buying mechanism also are tested. the most mathematical device utilized in theoretical research is dynamic programming. This publication is written for college kids, researchers, and practitioners within the parts of operations administration and commercial engineering who're attracted to realizing the reason of versatile supply instances and designing winning applications.