Nowadays the out-of-stock phenomenon is very popular, which reduces the utility of the customers. For this problem, the sellers always provide the availability guarantees services. Because it is proved that consumer behaviors have the important influence on the seller's optimal decisions, the value of two availability guarantees including inventory commitment and out-of-stock compensation is studied based on consumer strategic purchasing and returning behaviors. It is assumed that a seller sold the single produce in two sale periods (full price and salvage price). Three models of no any guarantees, inventory commitment and out-of-stock compensation are established. By analyzing these models, it is found that out-of-stock have no effect on the optimal refund, and that consumer strategic purchasing behavior destroys the positive function of inventory commitment which can be offset using unconstrained returning policy, and that the value of truthful commitment is better than the false one. When the utility of compensate is over the cost (called an efficient compensation), the out-of-stock compensation is better than the truthful inventory commitment. At last, using the software Matlab, an analysis of an example was applied and tested our models correctness.
JIANG Hong
. On the Value of Availability Guarantees based on Strategic Consumer Purchasing and Returning Behaviors[J]. Chinese Journal of Management Science, 2015
, 23(4)
: 96
-104
.
DOI: 10.16381/j.cnki.issn1003-207x.2015.04.012
[1] Fitzsimons G J. Consumer response to stockouts[J]. Journal of Consumer Research, 2000, 27(2):249-266.
[2] Verhoef P C, Sloot L M. Out-of-stock:Reactions, antecedents, management solutions, and a future perspective[M]//Krafft M, Mantrala M K. Retailing in the 21st century:Current and future trends. Berlin:Springer, 2005:239-254.
[3] 杨道箭, 齐二石, 魏峰.顾客策略行为和风险偏好下的供应链利润分享[J].管理科学学报, 2011, 4(12):50-59.
[4] Gruen T W, Corsten D, Bharadwaj S. Retail out of stocks:A worldwide examination of causes, rates, and consumer responses[M]. Washington, D. C:Grocery Manufacturers of America, 2002.
[5] Gruen T W, Corsten D. A comprehensive guide to retail out-of-stock reduction in the fast-moving consumer goods industry[M]. Washington D.C:Grocery Manufacturers of America, 2008.
[6] Dana J D. Competition in price and availability when availability is unobservable[J]. The RAND Journal of Economics, 2001, 32(3):497-513.
[7] Anderson E T, Fitzsimons G J, Simester D. Measuring and mitigating the costs of stockouts[J]. Management Science, 2006, 52(11):1751-1763.
[8] Dana J D, Petruzzi N C. The newsvendor model with endogenous demand [J]. Management Science, 2001, 47(11):1488-1497.
[9] Alexandrov A, Lariviere M A. Are reservations recommended? [J]. Manufacturing & Service Operations Management, 2012, 14(2):218-230.
[10] Su Xuanming, Zhang Fuqiang. On the value of commitment and availability guarantees when selling to strategic consumers[J]. Management Science, 2009, 55(5):713-726.
[11] Davis S, Gerstner E, Hagerty M.Money back guarantees in retailing:Matching products to consumer tastes[J]. Journal of Retailing, 1995, 71(1):7-22.
[12] Hess J D, Chu Wujin, Gerstner E. Controlling product returns in direct marketing[J]. Marketing Letter, 1996, 7(4):307-317.
[13] Chu Wujin, Gerstner E, Hess J D. Managing dissatisfaction:How to decrease customer opportunism by partial refunds[J]. Journal of Service Research, 1998, 1(2):140-155.
[14] Su Xuanming. Consumer returns policies and supply chain performance[J]. Manufacturing and Service Operations Management, 2009, 11(4):595-612.
[15] 申成霖, 张新鑫, 卿志琼.服务水平约束下基于顾客策略性退货的供应链契约协调研究[J].中国管理科学, 2010, 18(4):56-64.
[16] 姜宏, 齐二石, 霍艳芳, 等, 基于顾客惰性行为的无理由退货策略研究[J].管理学报, 2012, 9(10):1531-1535.
[17] Aviv Y, Pazgal A. Optimal pricing of seasonal products in the presence of forward-looking consumers[J]. Manufacturing and Service Operations Management, 2008, 10(3):339-359.
[18] Cachon G P, Swinney R. Purchasing, pricing, and quick response in the presence of strategic consumers[J]. Management Science, 2009, 55(3):497-511.
[19] Levin Y, McGill J, Nediak M. Dynamic pricing in the presence of strategic and oligopolistic competition [J]. Management Science, 2009, 55(1):32-46.
[20] Su Xuanming. Optimal pricing with speculators and strategic consumers[J]. Management Science, 2010, 56(1):25-40.
[21] 计国君, 杨光勇.顾客体验之于新产品供应链协调的影响[J].管理科学学报, 2011, 14(11):10-18.
