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Auteur Karthik Ramachandran |
Documents disponibles écrits par cet auteur (2)



A dynamic inventory model with the right of refusal / Sreekumar Bhaskaran in Management science, Vol. 56 N° 12 (Décembre 2010)
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[article]
Titre : A dynamic inventory model with the right of refusal Type de document : texte imprimé Auteurs : Sreekumar Bhaskaran, Auteur ; Karthik Ramachandran, Auteur ; John Semple, Auteur Année de publication : 2011 Article en page(s) : pp. 2265-2281 Note générale : Management Langues : Anglais (eng) Mots-clés : Inventory-production policies Dynamic programming Stochastic Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider a dynamic inventory (production) model with general convex order (production) costs and excess demand that can be accepted or refused by the firm. Excess demand that is accepted is backlogged and results in a backlog cost whereas demand that is refused results in a lost sales charge. Endogenizing the sales decision is appropriate in the presence of general convex order costs so that the firm is not forced to backlog a unit whose subsequent satisfaction would reduce total profits. In each period, the firm must determine the optimal order and sales strategy. We show that the optimal policy is characterized by an optimal buy-up-to level that increases with the initial inventory level and an order quantity that decreases with the initial inventory level. More importantly, we show the optimal sales strategy is characterized by a critical threshold, a backlog limit, that dictates when to stop selling. This threshold is independent of the initial inventory level and the amount purchased. We investigate various properties of this new policy. As demand stochastically increases, the amount purchased increases but the amount backlogged decreases, reflecting a shift in the way excess demand is managed. We develop two regularity conditions, one that ensures some backlogs are allowed in each period, and another that ensures the amount backlogged is nondecreasing in the length of the planning horizon. We illustrate the buy-up-to levels in our model are bounded above by buy-up-to levels from the pure lost sales and pure backlogging models. We explore additional extensions using numerical experiments. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2265
in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2265-2281[article] A dynamic inventory model with the right of refusal [texte imprimé] / Sreekumar Bhaskaran, Auteur ; Karthik Ramachandran, Auteur ; John Semple, Auteur . - 2011 . - pp. 2265-2281.
Management
Langues : Anglais (eng)
in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2265-2281
Mots-clés : Inventory-production policies Dynamic programming Stochastic Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider a dynamic inventory (production) model with general convex order (production) costs and excess demand that can be accepted or refused by the firm. Excess demand that is accepted is backlogged and results in a backlog cost whereas demand that is refused results in a lost sales charge. Endogenizing the sales decision is appropriate in the presence of general convex order costs so that the firm is not forced to backlog a unit whose subsequent satisfaction would reduce total profits. In each period, the firm must determine the optimal order and sales strategy. We show that the optimal policy is characterized by an optimal buy-up-to level that increases with the initial inventory level and an order quantity that decreases with the initial inventory level. More importantly, we show the optimal sales strategy is characterized by a critical threshold, a backlog limit, that dictates when to stop selling. This threshold is independent of the initial inventory level and the amount purchased. We investigate various properties of this new policy. As demand stochastically increases, the amount purchased increases but the amount backlogged decreases, reflecting a shift in the way excess demand is managed. We develop two regularity conditions, one that ensures some backlogs are allowed in each period, and another that ensures the amount backlogged is nondecreasing in the length of the planning horizon. We illustrate the buy-up-to levels in our model are bounded above by buy-up-to levels from the pure lost sales and pure backlogging models. We explore additional extensions using numerical experiments. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2265 Exemplaires
Code-barres Cote Support Localisation Section Disponibilité aucun exemplaire Integrated product architecture and pricing for managing sequential innovation / Vish Krishnan in Management science, Vol. 57 N° 11 (Novembre 2011)
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[article]
Titre : Integrated product architecture and pricing for managing sequential innovation Type de document : texte imprimé Auteurs : Vish Krishnan, Auteur ; Karthik Ramachandran, Auteur Année de publication : 2012 Article en page(s) : pp. 2040-2053 Note générale : Management Langues : Anglais (eng) Mots-clés : Product design and pricing Modular upgradability Sequential innovation Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Science and technology advances drive firms to continually enhance their product's performance and launch sequentially improving offerings. Firms face challenges in marketing such improving products to well-informed, forward-looking consumers who anticipate product improvements and seek to delay their purchase timing. Product design, specifically a modular upgradable architecture in which improving and stable subsystems of a product are separated and selectively upgraded, can be a valuable approach for marketers to alleviate consumer concerns about product obsolescence. However, such an architecture-based approach can present new challenges as well, and dealing with them requires carefully coordinated cross-functional decision making by the firm. In this paper, we identify and formalize the notion of design inconsistency, which refers to the monopolist firm's inability to commit to future product design architectures. We find that firms experience design inconsistency even when they are able to commit to future prices, and design inconsistency lowers firm profits as well as consumer surplus. We then derive a joint product architecture and pricing approach to solve this problem; this enables an innovating firm to optimally and in a time-consistent manner launch modular upgradable products. The modeling and analysis in the paper lends insight into types of markets and products for which modular upgradability is most appropriate and offers guidelines on making pricing and product design decisions jointly for managing sequential innovation. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/11/2040.abstract
in Management science > Vol. 57 N° 11 (Novembre 2011) . - pp. 2040-2053[article] Integrated product architecture and pricing for managing sequential innovation [texte imprimé] / Vish Krishnan, Auteur ; Karthik Ramachandran, Auteur . - 2012 . - pp. 2040-2053.
Management
Langues : Anglais (eng)
in Management science > Vol. 57 N° 11 (Novembre 2011) . - pp. 2040-2053
Mots-clés : Product design and pricing Modular upgradability Sequential innovation Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Science and technology advances drive firms to continually enhance their product's performance and launch sequentially improving offerings. Firms face challenges in marketing such improving products to well-informed, forward-looking consumers who anticipate product improvements and seek to delay their purchase timing. Product design, specifically a modular upgradable architecture in which improving and stable subsystems of a product are separated and selectively upgraded, can be a valuable approach for marketers to alleviate consumer concerns about product obsolescence. However, such an architecture-based approach can present new challenges as well, and dealing with them requires carefully coordinated cross-functional decision making by the firm. In this paper, we identify and formalize the notion of design inconsistency, which refers to the monopolist firm's inability to commit to future product design architectures. We find that firms experience design inconsistency even when they are able to commit to future prices, and design inconsistency lowers firm profits as well as consumer surplus. We then derive a joint product architecture and pricing approach to solve this problem; this enables an innovating firm to optimally and in a time-consistent manner launch modular upgradable products. The modeling and analysis in the paper lends insight into types of markets and products for which modular upgradability is most appropriate and offers guidelines on making pricing and product design decisions jointly for managing sequential innovation. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/11/2040.abstract Exemplaires
Code-barres Cote Support Localisation Section Disponibilité aucun exemplaire