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- Publisher Website: 10.1016/S0377-2217(98)00123-4
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Article: Manufacturer's pricing strategy and return policy for a single-period commodity
Title | Manufacturer's pricing strategy and return policy for a single-period commodity |
---|---|
Authors | |
Issue Date | 1999 |
Publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor |
Citation | European Journal Of Operational Research, 1999, v. 116 n. 2, p. 291-304 How to Cite? |
Abstract | This paper presents a model for designing the pricing and return-credit strategy for a monopolistic manufacturer of single-period commodities. That is, given the unit manufacturing cost and the unit retail sale price, the manufacturer determines: (i) the unit price C to be charged against the retailer; and (ii) the unit credit V to be given to the retailer for units returned. While the manufacturer is allowed to set C and V, the order quantity Q is set by the retailer in response to the manufacturer's C and V. Among the unexpected findings derived from our model are: (i) unless an external force supports the retailer, otherwise the manufacturer can usually design a (C, V)-scheme that gives himself the lion's share of the profit; (ii) depending on the risk attitudes of the manufacturer and the retailer, the optimal return policy can range from 'no returns allowed' to 'unlimited returns with full credit'; (iii) instead of losing his profit share to the retailer, a return-credits agreement can often be manipulated by a shrewd manufacturer to increase his profit. |
Persistent Identifier | http://hdl.handle.net/10722/177928 |
ISSN | 2023 Impact Factor: 6.0 2023 SCImago Journal Rankings: 2.321 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
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dc.contributor.author | Lau, HS | en_US |
dc.contributor.author | Lau, AHL | en_US |
dc.date.accessioned | 2012-12-19T09:40:52Z | - |
dc.date.available | 2012-12-19T09:40:52Z | - |
dc.date.issued | 1999 | en_US |
dc.identifier.citation | European Journal Of Operational Research, 1999, v. 116 n. 2, p. 291-304 | en_US |
dc.identifier.issn | 0377-2217 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177928 | - |
dc.description.abstract | This paper presents a model for designing the pricing and return-credit strategy for a monopolistic manufacturer of single-period commodities. That is, given the unit manufacturing cost and the unit retail sale price, the manufacturer determines: (i) the unit price C to be charged against the retailer; and (ii) the unit credit V to be given to the retailer for units returned. While the manufacturer is allowed to set C and V, the order quantity Q is set by the retailer in response to the manufacturer's C and V. Among the unexpected findings derived from our model are: (i) unless an external force supports the retailer, otherwise the manufacturer can usually design a (C, V)-scheme that gives himself the lion's share of the profit; (ii) depending on the risk attitudes of the manufacturer and the retailer, the optimal return policy can range from 'no returns allowed' to 'unlimited returns with full credit'; (iii) instead of losing his profit share to the retailer, a return-credits agreement can often be manipulated by a shrewd manufacturer to increase his profit. | en_US |
dc.language | eng | en_US |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor | en_US |
dc.relation.ispartof | European Journal of Operational Research | en_US |
dc.title | Manufacturer's pricing strategy and return policy for a single-period commodity | en_US |
dc.type | Article | en_US |
dc.identifier.email | Lau, AHL: ahlau@business.hku.hk | en_US |
dc.identifier.authority | Lau, AHL=rp01072 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1016/S0377-2217(98)00123-4 | en_US |
dc.identifier.scopus | eid_2-s2.0-0344672502 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0344672502&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 116 | en_US |
dc.identifier.issue | 2 | en_US |
dc.identifier.spage | 291 | en_US |
dc.identifier.epage | 304 | en_US |
dc.identifier.isi | WOS:000080472100006 | - |
dc.publisher.place | Netherlands | en_US |
dc.identifier.scopusauthorid | Lau, HS=7201497264 | en_US |
dc.identifier.scopusauthorid | Lau, AHL=7202626080 | en_US |
dc.identifier.issnl | 0377-2217 | - |