Cooperation between Multiple Newsvendors with Warehouses

U. Ozen, J. Fransoo, H.W. Norde, M. Slikker

Research output: Working paperDiscussion paperOther research output

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Abstract

This study considers a supply chain that consists of n retailers, each of them facing a newsvendor problem, m warehouses and a supplier.The retailers are supplied with a single product via some warehouses.In these warehouses, the ordered amounts of goods of these retailers become available after some lead time.At the time that the goods arrive at the warehouses, demand realizations are known by the retailers.The retailers can increase their expected joint profits by coordinating their orders and making allocations after demand realization.For this setting, we consider an associated cooperative game between the retailers.We show that this associated cooperative game has a nonempty core. Finally, we study a variant of this game, where the retailers are allowed to leave unsold goods at the warehouses.
Original languageEnglish
Place of PublicationTilburg
PublisherMicroeconomics
Number of pages19
Volume2004-34
Publication statusPublished - 2004

Publication series

NameCentER Discussion Paper
Volume2004-34

Fingerprint

Retailers
Warehouse
Newsvendor
Cooperative game
Newsvendor problem
Profit
Supply chain
Lead time
Suppliers

Keywords

  • supply chain management
  • newsvendor
  • warehouse
  • game theory
  • balancedness

Cite this

Ozen, U., Fransoo, J., Norde, H. W., & Slikker, M. (2004). Cooperation between Multiple Newsvendors with Warehouses. (CentER Discussion Paper; Vol. 2004-34). Tilburg: Microeconomics.
Ozen, U. ; Fransoo, J. ; Norde, H.W. ; Slikker, M. / Cooperation between Multiple Newsvendors with Warehouses. Tilburg : Microeconomics, 2004. (CentER Discussion Paper).
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Ozen, U, Fransoo, J, Norde, HW & Slikker, M 2004 'Cooperation between Multiple Newsvendors with Warehouses' CentER Discussion Paper, vol. 2004-34, Microeconomics, Tilburg.

Cooperation between Multiple Newsvendors with Warehouses. / Ozen, U.; Fransoo, J.; Norde, H.W.; Slikker, M.

Tilburg : Microeconomics, 2004. (CentER Discussion Paper; Vol. 2004-34).

Research output: Working paperDiscussion paperOther research output

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N2 - This study considers a supply chain that consists of n retailers, each of them facing a newsvendor problem, m warehouses and a supplier.The retailers are supplied with a single product via some warehouses.In these warehouses, the ordered amounts of goods of these retailers become available after some lead time.At the time that the goods arrive at the warehouses, demand realizations are known by the retailers.The retailers can increase their expected joint profits by coordinating their orders and making allocations after demand realization.For this setting, we consider an associated cooperative game between the retailers.We show that this associated cooperative game has a nonempty core. Finally, we study a variant of this game, where the retailers are allowed to leave unsold goods at the warehouses.

AB - This study considers a supply chain that consists of n retailers, each of them facing a newsvendor problem, m warehouses and a supplier.The retailers are supplied with a single product via some warehouses.In these warehouses, the ordered amounts of goods of these retailers become available after some lead time.At the time that the goods arrive at the warehouses, demand realizations are known by the retailers.The retailers can increase their expected joint profits by coordinating their orders and making allocations after demand realization.For this setting, we consider an associated cooperative game between the retailers.We show that this associated cooperative game has a nonempty core. Finally, we study a variant of this game, where the retailers are allowed to leave unsold goods at the warehouses.

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Ozen U, Fransoo J, Norde HW, Slikker M. Cooperation between Multiple Newsvendors with Warehouses. Tilburg: Microeconomics. 2004. (CentER Discussion Paper).