×

Barter exchange as the way to deal with excess inventory: newsvendor problem with multiplicative demand. (English) Zbl 1506.90007

MSC:

90B05 Inventory, storage, reservoirs

References:

[1] Agrawal, V., and Seshadri, S. Impact of uncertainty and risk aversion on price and order quantity in the newsvendor problem. Manufacturing & Service Operations Management 2, 4 (2000), 410-423.
[2] Anderlini, L., and Sabourian, H. Some notes on the economics of barter, money and credit. In Barter, Exchange and Value: An Anthropological Approach, C. Humphrey and S. Hugh-Jones, Eds. Cambridge University Press, 1992, pp. 75-101.
[3] Anderson, R., Ashlagi, I., Gamarnik, D., and Kanoria, Y. Efficient dynamic barter exchange. Operations Research 65, 6 (2017), 1446-1459. · Zbl 1405.91471
[4] Antweiler, W. The virtues of negative exponential demand. Werner’s Blog -Opinion, Analysis, Commentary (30 June 2018), accessed 7 June 2021.
[5] Bartik, A. W., Bertrand, M., Cullen, Z., Glaeser, E. L., Luca, M., and Stanton, C. The impact of COVID-19 on small business outcomes and expectations. Proceedings of the National Academy of Sciences 117, 30 (2020), 17656-17666.
[6] Battistella, L. M., and Hynes, N. Something new under the sun? A case study of modern Italian barter systems. Journal of Applied Business and Economics 21, 2 (2019), 27-50.
[7] Bearne, S. A barter way of life: Covid crisis fuels swapping of goods and skills. The Guardian (31 October 2020), accessed 25 May 2021.
[8] Bieniek, M. Bartering: price-setting newsvendor problem with barter exchange. Sustainability 13, 12 (2021), 1-22.
[9] Chaudhari, U., Shah, N., and Jani, M. Inventory modelling of deteriorating item and preservation technology with advance payment scheme under quadratic demand. In Optimization and Inventory Management. Asset Analytics (Performance and Safety Management), N. Shah and M. Mittal, Eds. Springer, Singapore, 2020, pp. 69-79.
[10] Dalalah, D., Khasawneh, M., and Khan, S. Pricing and demand management of air tickets using a multiplicative newsven-dor model. Journal of Revenue and Pricing Management 21, 5 (2022), 517-528.
[11] Dalton, G. Barter. Journal of Economic Issues 16, 1 (1982), 181-190.
[12] DeYong, G. D. The price-setting newsvendor: review and extensions. International Journal of Production Research 58, 6 (2020), 1776-1804.
[13] Efremova, O. I., and Gabdullin, L. V. Logistic barter features as a new concept of supply chain management. Academy of Strategic Management Journal 15, Special Issue 2 (2016), 19-25.
[14] Erridge, A., and Zhabykenov, D. The role of purchasing in countertrade. European Journal of Purchasing and Supply Management 4, 2-3 (1998), 97 -107.
[15] Esmaeili, A., and Shokoohi, Z. Assessing the effect of oil price on world food prices: application of principal component analysis. Energy Policy 39, 2 (2011), 1022-1025.
[16] Finkelstein, M. Understanding the shape of the mixture failure rate (with engineering and demographic applications). Applied Stochastic Models in Business and Industry 25, 6 (2009), 643-663. · Zbl 1224.62111
[17] Gunia, B. C., and Lewicki, R. J. Bartering as a blind spot: a call to action from Covid-19. Negotiation Journal 36, 4 (2020), 561-572.
[18] Guriev, S., and Kvassov, D. Barter for price discrimination. International Journal of Industrial Organization 22, 3 (2004), 329-350.
[19] Hua, G., Zhang, Y., Cheng, T., Wang, S., and Zhang, J. The newsvendor problem with barter exchange. Omega 92 (2020), 102149.
[20] Huang, Y., Pi, Z., and Fang, W. Trade credit with barter in a capital-constrained supply chain. Sustainability 13, 20 (2021), 11361.
[21] IRTA. The barter and trade industry (2021), accessed 15 March 2021.
[22] Jevons, W. S. Money and the Mechanism of Exchange, vol. 17, D. Appleton, New York, 1876.
[23] Jones, J. Could bartering become the new buying in a changed world? Worklife (27 August 2020), accessed 25 May 2021.
[24] Karlin, S., and Carr, C. R. Prices and optimal inventory policy. Studies in Applied Probability and Management Science 4, 1 (1962), 159-172. · Zbl 0142.17104
[25] Kharif, O. The return of the barter economy, swapping eggs for toilet paper. Bloomberg (31 Mach 2020), accessed 25 May 2021.
[26] Khouja, M. The single-period (news-vendor) problem: literature review and suggestions for future research. Omega 27, 5 (1999), 537-553.
[27] Kirshner, S. N., and Shao, L. The overconfident and optimistic price-setting newsvendor. European Journal of Operational Research 277, 1 (2019), 166-173. · Zbl 1430.90026
[28] Koirala, K. H., Mishra, A. K., D’Antoni, J. M., and Mehlhorn, J. E. Energy prices and agricultural commodity prices: testing correlation using copulas method. Energy 81 (2015), 430-436.
[29] Kregel, J. The economic problem: from barter to commodity money to electronic money. Levy Economics Institute, Working Papers Series (2021), 1-33.
[30] Liu, L., and Ma, G. Cross-correlation between crude oil and refined product prices. Physica A: Statistical Mechanics and its Applications 413 (2014), 284-293.
[31] Melis, C., and Guidici, E. Is barter a strategic response to the global capitalist crisis? In Capitalism and the Social Relationship, H. Kazeroony and A. Stachowicz-Stanusch, Eds. Palgrave Macmillan, London, 2014, pp. 265-277.
[32] Ngoc, T. V. Barter online network. CRIS -Bulletin of the Centre for Research and Interdisciplinary Study 2015, 2 (2015), 7-24.
[33] Pal, D., and Mitra, S. K. Interdependence between crude oil and world food prices: A detrended cross correlation analysis. Physica A: Statistical Mechanics and its Applications 492 (2018), 1032-1044.
[34] Patnaik, A. Price co-movements, commonalities and responsivness to monetary policy: empirical analysis under Indian conditions. Asia-Pacific Sustainable Development Journal 25, 2 (2018), 77-97.
[35] Petruzzi, N., and Dada, M. Pricing and newsvendor problem: a review with extensions. Operations Research 47, 2 (1999), 183-194. · Zbl 1005.90546
[36] Plank, R. E., Reid, D. A., and Bates, F. Barter: An alternative to traditional methods of purchasing. International Journal of Purchasing and Materials Management 30, 1 (1994), 51-57.
[37] Polanco Martínez, J. M., Abadie, L. M., and Fernández-Macho, J. A multi-resolution and multivariate analysis of the dynamic relationships between crude oil and petroleum-product prices. Applied Energy 228 (2018), 1550-1560.
[38] Porteus, E. L. Stochastic inventory theory. In Stochastic Models, D. P. Heyman and M. J. Sobel, Eds., vol. 2 of Handbooks in Operations Research and Management Science. Elsevier, 1990, pp. 605-652. · Zbl 0736.90026
[39] Qin, Y., Wang, R., Vakharia, A. J., Chen, Y., and Seref, M. M. The newsvendor problem: review and directions for future research. European Journal of Operational Research 213, 2 (2011), 361-374. · Zbl 1215.90005
[40] Ru, J., and Wang, Y. Consignment contracting: Who should control inventory in the supply chain? European Journal of Operational Research 201, 3 (2010), 760-769. · Zbl 1173.90314
[41] Rubio-Herrero, J., and Baykal-Gürsoy, M. Mean-variance analysis of the newsvendor problem with price-dependent, isoelastic demand. European Journal of Operational Research 283, 3 (2019), 942-953. · Zbl 1441.90011
[42] Seabright, P., Ed. The Vanishing Rouble: Barter Networks and Non-monetary Transactions in Post-Soviet Societies. Cambridge University Press, 2000.
[43] Sen, N., and Saha, S. Inventory model for deteriorating items with negative exponential demand, probabilistic deterioration and fuzzy lead time under partial back logging. Operations Research and Decisions 30, 3 (2020), 97-112.
[44] Shah, N. H., Jani, M. Y., and Chaudhari, U. Retailer’s optimal policies for price-credit dependent trapezoidal demand under two-level trade credit. International Journal of Operations and Quantitative Management 23, 2 (2017), 115-130.
[45] Shah, N. H., Jani, M. Y., and Chaudhari, U. Optimal ordering policy for deteriorating items under down-stream trade credit dependent quadratic demand with full up-stream trade credit and partial down-stream trade credit. International Journal of Mathematics in Operational Research 12, 3 (2018), 378-396. · Zbl 1452.90037
[46] Shi, R., Zhang, J., and Ru, J. Impacts of power structure on supply chains with uncertain demand. Production and Operations Management 22, 5 (2013), 1232-1249.
[47] Strabley, J. Back to barter: A solution for struggling paint and coatings companies. Paint and Coatings Industry (13 July 2020), accessed 25 May 2021.
[48] Traore, F., and Badolo, F. On the co-movement between coffee and cocoa prices in international markets. Applied Economics 48, 40 (2016), 3877-3886.
[49] Whitin, T. M. Inventory control and price theory. Management Science 2, 1 (1955), 61-68.
[50] Williams, C. C. The new barter economy: an appraisal of local exchange and trading systems (LETS). Journal of Public Policy 16, 1 (1996), 85-101.
[51] Ye, T., and Sun, H. Price-setting newsvendor with strategic consumers. Omega 63 (2016), 103 -110.
[52] Yu, L., Pei, J., Liu, X., Fan, W., and Pardalos, P. M. The effect of yield rate in a general price-setting newsvendor model with a yield-dependent secondary market. International Transactions in Operational Research 26, 6 (2019), 2337-2361. · Zbl 1540.90017
[53] Zabel, E. Monopoly and uncertainty. The Review of Economic Studies 37, 2 (1970), 205-219. · Zbl 0194.50902
[54] Zhang, B., Chen, M., and Wei, L. Impacts of barter exchange and decision biases in a two-level supply chain under pull contract. International Transactions in Operational Research 29, 3 (2022), 1868-1896. · Zbl 07771181
This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. In some cases that data have been complemented/enhanced by data from zbMATH Open. This attempts to reflect the references listed in the original paper as accurately as possible without claiming completeness or a perfect matching.