Selling to strategic and loss‐averse consumers: Stocking,procurement, and product design policies

Motivated by the presence of loss‐averse decision making behavior in practice, this article considers a supply chain consisting of a firm and strategic consumers who possess an S‐shaped loss‐averse utility function. In the model, consumers decide the purchase timing and the firm chooses the inventory level. We find that the loss‐averse consumers' strategic purchasing behavior is determined by their perceived gain and loss from strategic purchase delay, and the given rationing risk. Thus, the firm that is cognizant of this property tailors its inventory stocking policy based on the consumers' loss‐averse behavior such as their perceived values of gain and loss, and their sensitivity to them. We also demonstrate that the firm's equilibrium inventory stocking policy reflects both the economic logic of the traditional newsvendor inventory model, and the loss‐averse behavior of consumers. The equilibrium order quantity is significantly different from those derived from models that assume that the consumers are risk neutral and homogeneous in their valuations. We show that the firm that ignores strategic consumer's loss‐aversion behavior tends to keep an unnecessarily high inventory level that leads to excessive leftovers. Our numerical experiments further reveal that in some extreme cases the firm that ignores strategic consumer's loss‐aversion behavior generates almost 92% more leftovers than the firm that possesses consumers’ loss‐aversion information and takes it into account when making managerial decisions. To mitigate the consumer's forward‐looking behavior, we propose the adoption of the practice of agile supply chain management, which possesses the following attributes: (i) procuring inventory after observing real‐time demand information, (ii) enhanced design (which maintains the current production mix but improves the product performance to a higher level), and (iii) customized design (which maintains the current performance level but increases the variety of the current production line to meet consumers’ specific demands). We show that such a practice can induce the consumer to make early purchases by increasing their rationing risk, increasing the product value, or diversifying the product line. © 2015 Wiley Periodicals, Inc. Naval Research Logistics 62: 435–453, 2015     

Inventory financing under Risk-Adjusted-Return-On-Capital criterion

Risk-Adjusted-Return-On-Capital (RAROC) is a loan-pricing criterion under which a bank sets the loan term such that a certain rate of return is achieved on the regulatory capital required by the Basel regulation. Some banks calculate the amount of regulatory capital for each loan under the standardized approach (“standardized banks,” the regulatory capital is proportional to the loan amount), and others under the internal rating-based (IRB) approach (“IRB banks,” the regulatory capital is related to the Value-at-Risk of the loan). This article examines the impact of the RAROC criterion on the bank's loan-pricing decision and the retailer's inventory decision. We find that among the loan terms that satisfy the bank's RAROC criterion, the one that benefits the retailer the most requires the bank to specify an inventory advance rate in addition to the interest rate. Under this loan term, the retailer's inventory level is more sensitive to his asset level when facing an IRB bank compared to a standardized bank. An IRB (standardized) loan leads to higher profit and inventory level for retailers with high (low) asset. For retailers with medium asset, an IRB loan results in a higher retailer profit but a lower consumer welfare. Calibrated numerical study reveals that the benefit of choosing standardized banks (relative to IRB banks) can be as high as 30% for industries with severe capital constraints, volatile demands, and low profit margins, highlighting the importance for retailers to carefully choose the type of banks to borrow from. When the interest rate is capped by regulation, retailers borrowing from a standardized bank are more likely to be influenced by the interest rate cap than those borrowing from an IRB bank. Under strong empire-building incentives (the bank will offer loan terms to maximize the size of the loan), retailers with medium initial asset level shift their preference from IRB banks to standardized banks.     

物理弱间断线上Ⅲ型斜交裂纹高阶渐近场

针对功能梯度材料层/均匀材料基体的物理弱间断线上斜交裂纹,通过分离变量和级数展开法构造位移函数,求得了裂纹尖端高阶渐近场。其界面裂纹尖端高阶渐近应力场具有与均匀材料相同的r-1/2的奇异性。由高阶项的表达式可知：材料非均匀性对应力场有显著影响。数学上,该解为此类问题的特征函数,能够描述此类材料各种含裂纹结构的整个应力场和位移场,当非均匀参数为零时,它可以退化到均匀材料反平面裂纹问题经典的W il-liam s解。     

OPC技术EMS系统与SIS系统数据接口设计与实现

针对企业能源信息系统要求数据采集速度高、需要把一些孤立的数据流程化地整合在一起的特点,设计了EMS系统与SIS系统之间的数据接口.介绍了EMS系统与SIS系统通信关键技术,设计了基于OPC通讯方式的实时数据接口方案、接口程序通讯配置、点配置表等,同时在采集模块中进行实时数据积分处理.     

基于COM的开放式数控系统软件模块通信方法的研究

采用基于COM技术的软件设计方法 ,对数控系统软件进行模块化开发 ,模块间的通信问题是关键。应用COM技术中的“事件”和“事件槽”方式实现了客户组件模块与服务器之间、客户组件模块之间的通信。这为开放式数控系统软件设计中通信问题的解决提供了一种新的软件方法     

单兵数字化系统人机界面分析与设计——“数字化战场与单兵数字化系统”系列论文之五

首先简要分析了单兵数字化系统中人机界面的设计原则，并根据单兵系统及其所处环境的特点，讨论了多种界面类型在该系统中的利弊、作用及实现的可能性。最后讨论了界面中各种信息的分组以及界面的展现（屏幕）设计     

智能图形显示终端的软件设计与实现

文中讨论了按CGI 标准来设计智能图形显示终端的软件接口,总结了智能图形显示终端软件的设计和实现的思想和方法。     

舰用计算机局部网络通信协议的设计

介绍了舰用计算机局部网络通信协议的设计,重点描述了设计中为提高实时性和可靠性所采用的一些具体技术措施,其中包括:简化ISO/OSI—RM 参考模型,并与IEEE8024标准协议兼容,采用VLSI 技术设计网络接口卡。同时,对其中一些关键技术,如逻辑环的建立与维护、信息的优先级发送与实时响应、数据缓冲区的结构与管理都作了说明。     

偶联剂在固体推进剂填料改性中的应用研究

本文采用硅烷类和钛酸酯类偶联剂对固体推进剂中的硝酸铵填料进行表面改性。改性后的硝酸铵接触角增大,表面张力降低且具有明显的疏水性。并证实偶联剂可以增强填料与粘结体系之间的界面相互作用。     

空间站环境污染分析及其仿真模式

在确立正确的空间站环境污染概念的基础上,依据污染成因可将其分为本体污染（分子污染）、羽流污染（操作污染）和粒子云污染三大污染源。针对各自不同的形成机理,提出进行污染潜势预报的相应的分析模式,作为研制环境污染分析的仿真软件的基础。对于最严重的污染源羽流污染,从建模、算法、流场模拟与效应分析出发,作一体化处理,构思模块式结构的仿真软件框架,为防止污染,研制和发展实用的污染控制系统提供依据