Pooling and Dependence of Demand and Yield in Multiple-Location Inventory Systems

• 成果类型: Article
• 署名作者: Mak, Ho-Yin; Shen, Zuo-Jun Max
• 署名单位: Hong Kong University of Science & Technology; University of California System; University of California Berkeley
• 刊物名称: M&SOM-MANUFACTURING & SERVICE OPERATIONS MANAGEMENT
• ISSN/ISSBN: 1523-4614
• DOI: 10.1287/msom.2013.0469
• 发表日期: 2014
• 页码: 263-269
• 关键词: supply chain design; inventory sharing; stochastic orders; robust optimization

摘要

The benefits of inventory risk pooling are well known and documented. It has been proven in the literature that the expected costs of a centralized system are increasing in the degree of (positive) dependence of demand in an idealized newsvendor setting. Using the supermodular stochastic order to characterize dependence, we study a general two-tiered supply chain structure, in which both demand and supply yields are random, and prove that the expected costs are increasing in the degrees of positive dependence between demand and supply yield loss factors. Furthermore, using a distributionally robust optimization framework, we prove an analogous result for the case where demand and yield distributions are not precisely known.