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Croatian Operational Research Review, Vol.8 No.1 April 2017.

Original scientific paper
https://doi.org/10.17535/crorr.2017.0011

Price changing and inventory sharing in supply chain management

Kristina Šorić ; Zagreb School of Economics and Management, Jordanovac 110, 10000 Zagreb, Croatia
Višnja Vojvodić Rosenzweig ; Zagreb School of Economics and Management, Jordanovac 110, 10000 Zagreb, Croatia
Jadranka Kraljević ; Croatian Catholic University, Ilica 242, 10000 Zagreb, Croatia

Fulltext: english, pdf (189 KB) pages 181-192 downloads: 276* cite
APA 6th Edition
Šorić, K., Vojvodić Rosenzweig, V. & Kraljević, J. (2017). Price changing and inventory sharing in supply chain management. Croatian Operational Research Review, 8 (1), 181-192. https://doi.org/10.17535/crorr.2017.0011
MLA 8th Edition
Šorić, Kristina, et al. "Price changing and inventory sharing in supply chain management." Croatian Operational Research Review, vol. 8, no. 1, 2017, pp. 181-192. https://doi.org/10.17535/crorr.2017.0011. Accessed 17 Dec. 2018.
Chicago 17th Edition
Šorić, Kristina, Višnja Vojvodić Rosenzweig and Jadranka Kraljević. "Price changing and inventory sharing in supply chain management." Croatian Operational Research Review 8, no. 1 (2017): 181-192. https://doi.org/10.17535/crorr.2017.0011
Harvard
Šorić, K., Vojvodić Rosenzweig, V., and Kraljević, J. (2017). 'Price changing and inventory sharing in supply chain management', Croatian Operational Research Review, 8(1), pp. 181-192. doi: https://doi.org/10.17535/crorr.2017.0011
Vancouver
Šorić K, Vojvodić Rosenzweig V, Kraljević J. Price changing and inventory sharing in supply chain management. Croatian Operational Research Review [Internet]. 2017 [cited 2018 December 17];8(1):181-192. doi: https://doi.org/10.17535/crorr.2017.0011
IEEE
K. Šorić, V. Vojvodić Rosenzweig and J. Kraljević, "Price changing and inventory sharing in supply chain management", Croatian Operational Research Review, vol.8, no. 1, pp. 181-192, 2017. [Online]. doi: https://doi.org/10.17535/crorr.2017.0011

Abstracts
The main task of supply chain management is to balance efficiency and effectiveness. Numerous operational management strategies are used to make a supply chain efficient, one such is inventory management. In this paper, we will consider a particular part of a supply chain consisting comprising a manufacturer and a retailer with the goal of minimizing associated inventory costs. We will focus on an inventory of final products determined as the difference between supply and demand and are expressed as a function of price, inflation rate and change in inflation rate resulting in the possible speculations. The manufacturer’s inventory cost is a function of these same variables, with the retailer’s inventory cost having the same function in addition to the margin. The problem is formulated as a dynamic game to share the speculation problem. The optimization problems to be solved are optimal control theory problems with objective functions in the form of integral functional with the integrand depending on the state function and its first and second derivative.

Keywords
supply chain; inventory management; risk sharing; optimal control theory

Hrčak ID: 181656

URI
https://hrcak.srce.hr/181656

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