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工商管理学院“李达讲坛”【第110期】:Mitigating Supply Risk with Limited Information: Emergency Supply and Responsive Pricing


主题:Mitigating Supply Risk with Limited Information: Emergency Supply    

         and Responsive Pricing

主讲人:钟远光 教授

时间:2022621日(星期二)14:30-17:30

地点:工商管理学院431报告厅



主要内容:

We investigate the implications and interplay of emergency supply and responsive pricing---two effective strategies to mitigate supply risk---in response to yield randomness with limited distributional information. Specifically, we adopt a distribution-free approach to study an ambiguity-averse monopoly's joint pricing and production decisions given the random yield's mean and variance---arguably two of the most widely used and easy-to-estimate summary statistics. We derive for four models, which result from all possible combinations of the two strategies, closed-form solutions of the optimal price and production decisions as well as the optimal profit. Through comparative analysis, we obtain several managerial insights based on the problem's parameters, including cost parameters, demand parameters, and supply variation. The firm can benefit more from pure emergency supply than from pure responsive pricing if the unit emergency purchasing cost is not larger than certain threshold, and the strategic relation between emergency supply and responsive pricing also critically depends on the unit emergency purchasing cost. We discuss how distributional information about mean and variance bridges the most and least variable situations of the random yield, thus establishing the value and fundamental limit of knowing variance.



主讲人简介:

钟远光,华南理工大学工商管理学院教授,博士生导师。目前研究兴趣包括供应链金融,共享经济以及优化理论在运作管理中的应用等。多篇论文发表在了UTD24期刊Management ScienceOperations ResearchManufacturing & Service Operations Management。入选广东省青年珠江学者(2017),香江学者(2017)。主持国家自然科学基金(一项结题特优)、广东省自然科学基金,广东省软科学等项目多项。获广东省哲学社会科学优秀成果奖一等奖和二等奖,教育部高等学校科学研究优秀成果奖三等奖,安徽省科学技术奖三等奖,华南理工大学工商管理学院MBA/ME“我最喜爱的老师”等。



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