学术前沿讲座--Analysis of Inventory Policy with the Billboardand Scarcity effects of Shelf Space

Depending on the characteristic of the products, empirical evidences show that the shelf-space inventory has both billboard effect and the scarcity effect. When the billboard effect dominates, high shelf-space inventories might stimulate demand, whereas when the scarcity effect dominates, the shelf-space inventories decrease consumer’s demand (i.e., hungry sale). In this talk, we establish a periodic-review inventory system in which demand stochastically depends on the inventory level displayed in the shelf-space. The retailer jointly decides both the warehouse and shelf-space inventory levels to maximize his total expected profit during the planning horizon. Both dominated billboard effect and the dominated scarcity effect are addressed. For both settings, we show that the optimal system inventory and shelf-space level follows a base-stock inventory and two-side shelf-space control policy. Moreover, the optimal policy for both models will be reduced to a stationary base-stock policy when the planning horizon goes to infinity.

 

薛巍立博士现为香港城市大学管理科学系博士后。他分别于2003年和2005年在南京大学数学系获学士和硕士学位，并于2009年在香港中文大学系统工程与工程管理系获博士学位。博士毕业后，他先后在江苏雨润集团从事物流管理工作、在南京大学工程管理学院从事博士后工作等。目前，薛巍立博士已经在国际知名期刊如Operations Research、International Journal of Production Economics等发表论文多篇，并担任International Journal of Production Economics，Omega等国际期刊的审稿人。他的研究兴趣主要包括库存控制策略研究，运营与金融交叉研究，以及考虑风险的库存模型研究等。