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| Author: | Dong, J. Zhang, D. Nagurney, A. |
| Title: | A supply chain network equilibrium model with random demands |
| Journal: | European Journal of Operational Research
2004 : JUL, VOL. 156:1, p. 194-212 |
| Index terms: | Supply chain management Networks Retailing Demand functions |
| Language: | eng |
| Abstract: | In this paper, the authors develop a supply chain network model consisting of manufacturers and retailers in which the demands associated with the retail outlets are random. The authors model the optimizing behavior of the various decisionmakers, derive the equilibrium conditions, and establish the finite-dimensional variational inequality formulation. The paper provides qualitative properties of the equilibrium pattern in terms of existence and uniqueness results and also establish conditions under which the proposed computational procedure is guaranteed to converge. Finally, the model is illustrated through several numerical examples for which the equilibrium prices and product shipments are computed. This is the first supply chain network equilibrium model with random demands for which modeling, qualitative analysis, and computational results have been obtained. |
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