Art and Theory of Dynamic Programming
Art and Theory of Dynamic Programming
Diffusion of Innovations Under Supply Constraints
Operations Research
Quadratic-interval Bass model for new product sales diffusion
Expert Systems with Applications: An International Journal
Modified diffusion model with multiple products using a hybrid GA approach
Expert Systems with Applications: An International Journal
Forecasting global adoption of crystal display televisions with modified product diffusion model
Computers and Industrial Engineering
Deterministic lot-size inventory models with shortages and deterioration for fluctuating demand
Operations Research Letters
A deterministic inventory replenishment model with a linear trend in demand
Operations Research Letters
| Hi-index | 0.00 |
The Bass model is a very successful parametric approach to forecast the diffusion process of new products. In recent years, applications of the Bass model have been extended to other operational research fields such as managing customer demands, controlling inventory levels, optimizing advertisement strategies, and so forth. This study attempts to establish an application for optimizing manufacturers' production plans in a three-stage supply chain under the Bass model's effects on the market. The supply chain structure considered in this research is similar to other common supply chains comprised of three stages, namely retailer, distributor and manufacturer. The retailer stage has to handle customer demands following the Bass diffusion process. Market parameters and essential information are assumed to be available and ready for access. Each stage is expected to determine its inventory policy rationally. That is, each stage will attempt to maximize its own profits. These decisions will back-propagate their effects to upper stages. This study adopts a dynamic programming approach to determine the inventory policies of each stage so as to optimize manufacturers' production plans.